Unlike other forms of carrying on business, such as a partnership or sole proprietorship, a corporation benefits from perpetual existence. This means that even if one or all of its shareholder were to die or withdraw, the corporation would continue to exist. There are only three ways that a corporation would “die” or cease to… Read more How does a corporation die?
Individuals will often seek the advice of legal counsel, accountants and financial planners on the best manner of carrying on a business. The choice of which business type to choose will depend on a number of a factors. Here is a non-exhaustive list of some of the factors a lawyer may advise a client to… Read more Should I incorporate? The best manner of carrying on business.
Corporations are separate legal entities from the persons (which may include individuals or other corporations) that own them. Although the corporation will be owned by other persons, those persons do not actually own the property of the corporation, this belongs to the corporation itself, which has the characteristic of being able to legally own property.… Read more Do shareholders of a corporation own the property of a corporation?
The history of “corporations” is a long and colourful story. Perhaps the most interesting and unique trait of a corporation amongst the different forms of carrying on business is that a corporation is a separate and distinct legal entity from its “owners”. This means a corporation can own property, have debts and debtors and carry… Read more What is a corporation?
The seven most common forms of carrying on business in Canada are: Sole proprietorship; Partnership; Co-ownership; Corporations; Joint ventures; Franchises and licenses; and Not-for-profit organizations and charities. Each of these forms of carrying on business has a whole set of different pros, cons and practical implications and consequences. Of the different forms of business organization,… Read more What are the different forms of carrying on business in Canada?
Earlier this year MinuteBox team members (MB) had the pleasure of sitting down with Karen Dunn Skinner and David Skinner, the two principals of Gimbal Canada. Gimbal is an industry-leading consulting firm, advising leading law firms throughout Canada and the United States. MB: How did you both find yourselves in the legal consulting field? And… Read more Interview with Karen and David Skinner of Gimbal Canada
Regardless of the industry or the company, business owners and managers often handle and sign a substantial number of documents on a day-to-day basis. These documents may include supplier contracts, employee agreements, financing and banking documents, minute book documents and various correspondences. Given the significant amount of paper involved, the cumbersome and time-consuming task of… Read more Electronic Signatures – Regulations and Best Practices
Lawyers can be disciplined by the Law Society for the “Dishonesty, Fraud etc” of their clients. And so, for the sake of themselves and their clients, a lawyer must always be vigilant against fraud in transactions. Rule 3.2-7 of the Law Society’s Rules of Professional Conduct states, A lawyer shall not, (A) knowingly assist in… Read more How to recognize fraud in corporate transactions?
A corporate minute book is a collection of basic, but necessary records for incorporated companies. Much like a patient’s health history or a high school student’s permanent record, a minute book contains information about the status of the corporation, its shareholders, directors and corporate board minutes, as well as other company specific information. Sections 20(1)… Read more Does My Company Need a Corporate Minute Book?
Every corporation in Canada, by law, must file annual corporate returns. Within 60 days of the corporation’s incorporation or amalgamation date, each corporation must submit the requisite filing documents to Corporations Canada. If you incorporate on September 1, 2017, your annual filing will be due on October 30, 2018. The information gathered from your filings… Read more Corporate Filings, Annual Resolutions, and Minute Books