Our firm provides a wide variety of business services, including the following:
Business name registrations
Public Record Search Services
What is a corporation?
A corporation is a legal entity that can own property, sue and be sued. For all intents and purposes, a corporation is treated like a legal person in the eyes of the law. That means that a corporation can employ staff, enter into agreements and contracts, and essentially do almost anything a person can do. Of course, a corporation does not have it's own brain or body, so the corporation acts and speak through its officers and directors. These individuals are responsible for the operation and activities of the corporation.
Why should I incorporate my company?
The primary reason that business owners choose to incorporate their companies is to limit their own personal liability. For example, if you are sued for something that happens in connection with your business, and you are incorporated, the Plaintiff will only be able to sue your corporation, not you. This means that only the assets and wealth of the corporation are at risk. In most cases, your personal property and life savings will be protected, even if your corporation loses in Court. Business owners should also be cautious when entering into contracts with suppliers, clients or sub-contractors, and ensure that only their corporation is named on any written agreements. Business owners should also not agree to personally guarantee or become personally liable for the debts of the corporation. Often, banks and other institutions will seek such a guarantee.
How do I incorporate?
Incorporations are processed through Industry Canada. Our office can make the experience simple, easy and affordable for you. There are some legal steps that must be completed when incorporating. For example, businesses owners should decide whether to incorporate federally or provincially. Furthermore, when choosing a name for your corporation, you must not choose a name that is too similar to an existing corporation. Your name must also contain a legal element, like "inc.", "ltd." or "corp.". If you wish, Industry Canada may assign you a generic number, and the legal name of your corporation could look like the following: "12345678 Ontario Inc.".