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.
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
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
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
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
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
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
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
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 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
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
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 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
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
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
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
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
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”.
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
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