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?