Powers of Attorney

What are Powers of Attorney? A legal document whereby a person appoints one or more people to look after their legal and financial affairs, by allowing the person appointed (the attorney) to sign documents on their behalf. A Power of Attorney is a very powerful document and should only be granted to very trusted individuals […]

Read full story

The advantages of incorporation

Incorporation is the process whereby one or more individuals make application to a provincial, state, or federal government for the creation of an artificial entity, or “person” called a limited liability company. In earlier times, an act of Parliament was required to create such an artificial person; nowadays the process is considerably simpler, but is […]

Read full story

Partnership/shareholder agreement checklist

Things to consider for your partnership/shareholder agreement: For the day-to-day operation of the company what kind of limits will you have on discretionary spending? What should your Board of Directors look like? Who controls it? What decisions (if any) require unanimity? Are the shareholders required to spend their full-time attention on company matters? And what […]

Read full story

What’s in a Name?

No one doubts that a business name has real value. It is an asset which is bargained in the purchase of a business, and in many cases the business name is the most substantial asset being transferred. Accordingly, it comes a surprise to most people how unregulated the use of a busines name really is […]

Read full story

Corporate Reorganization Pursuant to the Bankruptcy and Insolvency Act

Ever wondered how huge companies, such as Dow Chemicals or Eaton’s manage to sail through financial disaster, apparently unscathed? Many of them do it by availing themselves of the relatively little known provisions of the Bankruptcy and Insolvency Act, or the Company Creditors Arrangement Act, two federal laws which permit companies, under some circumstances, to […]

Read full story