Why a Company Needs a Minute Book
You would be surprised at how often a minute book will be requested for review. Not every organization that wishes to see it has a right to see it but you may not be able to move forward with your … Continued
Six Things to Do When Starting a New Business
When starting a new business, there are several things you have to take into consideration. You can have the best products on the market and still not be successful if you haven’t set your business up properly. Below are six key aspects you should be focusing on as you set up a new business and lay the foundation for future success.
Federal Name Granting Compendium for Federal Companies
The main objective of Industry Canada when incorporating a federal company is to have protection for the name across Canada. In order to accomplish this, the federal government must ensure that any name that is proposed does not conflict with … Continued
Choosing a Name for Your Canadian Corporation, Partnership or Sole Proprietorship
When choosing a name for your Canadian corporation, partnership or sole proprietorship you need to ensure that your name is distinct and different from any other registration on file federally and in all provinces and territories across Canada. In order … Continued
Sole Proprietorship
What is a Sole Proprietorship A sole proprietorship is a registration of a business that is owned by an individual. The proprietor is said to be self-employed. This is the simplest form of a business organization. The proprietor secures the … Continued
Partnership Registration
A partnership occurs when two or more people decide they are going to work together in a business. Types of Partnerships There are three types in Canada. General Partnerships A general partnership occurs when all individuals have equal control … Continued
NUANS Name Search Reports
posted in: Carrying on Business in Canada, Extra-Provincial Registration, Foreign Business in Canada, General Corporate Law, Incorporating in Ontario, Incorporation, Incorporation in Alberta, Incorporation in British Columbia, Name Granting for New Businesses, NUANS, Ontario, Ontario Business Corporations Act |
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Which Provinces Accept a NUANS report versus a Specific Province Name Clearance Report? The province and territories which accept the NUANS report are: Alberta, Ontario, New Brunswick, Federal, Nova Scotia, Prince Edward Island and Yukon. All other jurisdictions in Canada … Continued
Qualifications for Directors of Ontario Companies
A director is an individual who is elected by the shareholders (owners) of the company to assist with the management and supervision of the day to day affairs of the company. Frequently the directors of a company are also the … Continued
Officer Position Descriptions
All companies must have at least one officer. There are many officer positions and each of those positions comes with a standard set of duties and requirements, although duties can be varied. Below is a list of the most common … Continued
Officers Titles and Positions
Officers are appointed by the directors of a corporation. There are many different officers titles and positions that can be held by individuals. The scope of this Articles is to explain the different positions and statute requirements relating to them. For … Continued
Appointing Officers
This article will provide guidance on how to appoint officers of a Corporation and how resignations and removal of officers are documented. The directors of a corporation manage the affairs of the corporation. As part of that management the directors … Continued
Resident Canadian Requirement for Directors of Ontario Companies
All Ontario companies must have at least one director and this person must be a resident Canadian as defined in the Business Corporations Act (Ontario). Director(s) are the individuals who manage and supervise the business on behalf of the owners (shareholders). The … Continued
Resolutions for Ontario Companies – Directors Resolutions | Shareholders Resolutions
Resolutions for Ontario companies are governed pursuant to the Ontario Business Corporations Act. What is a Resolution A resolution is a form of approval. It can be to approve any matter that the corporation wishes. Some examples are approval of … Continued
Declaring a Dividend on Shares of a Company
posted in: AB Business Corporations Act, Alberta, BC Business Corporations Act, British Columbia, Canada Business Corporations Act, Corporate Law, Directors Resolutions, Dividends, Federal, General Corporate Law, Maintaining Your Company, Manitoba, MB Corporations Act, NB Business Corporations Act, New Brunswick, Newfoundland and Labrador, NL Corporations Act, Nova Scotia, NS Business Incorporated Act, PEI Companies Act, Prince Edward Island |
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Dividends are payments declared by the directors of a company which are paid to the shareholders (owners) of a private or public company out of the profits of that company. When declaring a dividend the dividend must be declared equally … Continued
Director Residency Requirements – Canadian Federal Companies
Canadian companies registered in the Federal jurisdiction must follow the requirements of the Canada Business Corporations Act with respect to director residency requirements. What is a Resident Canadian as Defined by the Canada Business Corporations Act The Canada Business Corporations Act defines “resident Canadian” as … Continued
Qualifications of Directors of British Columbia Companies
Every BC company must have at least one director. A director is a person who has been appointed by the owners (shareholders) of the BC company to handle the business and affairs of the company on behalf of those owners. … Continued
Ontario Operating By-Law – Enactment, Amendment and Repeal pursuant to the Business Corporations Act
posted in: By-laws, Incorporating in Ontario, Incorporation, Ontario, Ontario Business Corporations Act |
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What are by-laws? By-laws are the rules pursuant to which a corporation conducts business. Many of those rules will be the same as outlined in the statute governing the company. However, in some cases the statute may provide that … Continued
Registration Requirements for Ontario Operating Trade Names
posted in: Incorporating in Ontario, Incorporation, Ontario, Ontario Business Names Act, Operating Trade Name |
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This discussion will be about the requirement under the Business Names Act (Ontario) for a company to register under the Business Names Act when it operates under a name other than its corporate name.
The statute indicates in section 2 that no corporation shall carry on business or identify itself to the public under a name Other Than its corporate name unless That name is registered by the corporation.
This legal requirement is frequently not followed correctly by small business corporations. Let us take the example of a person who incorporates a company called Trewell Landscaping Inc. He incorporates his company and wants to put a sign up on his door for the name “Trewell Landscaping”.
BC Name Search Report – Outline of BC Ministry Requirements for Business Names
The BC government has name granting procedures and policies that differ from some of the other provinces. The BC government considers any similar BC name already registered and as well looks at the nature of business of the proposed business … Continued
Annual Resolutions
This Article will be specific to the annual corporate approvals (frequently called annuals or annual resolutions) required for companies incorporated pursuant to the Business Corporations Act (Ontario) and the Canada Business Corporations Act. Most other jurisdictions in Canada would have … Continued