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Corporate Law-Related Blog Posts
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Do Canadian Companies Need Local Directors, Officers or Shareholders?
Understanding Residency Requirements for Key Roles of a Corporation in Canada Minimum Resident Canadian Director Quotas When setting up a corporation in Canada, whether federally or provincially, there are specific rules about who can be a director, particularly concerning residency. For federally incorporated companies, the general rule under the Canada Business Corporations Act (CBCA) is that at...
Read MoreWhat Ledgers and Registers Does a Canadian Corporation Need?
Core Corporate Records Mandated by Statute Under Canadian law, specifically the Canada Business Corporations Act (CBCA), corporations are legally obligated to maintain certain foundational documents. These records form the bedrock of the company's existence and governance, and their proper upkeep is not merely good practice but a statutory requirement. Failure to maintain these documents can lead to...
Read MoreAsset Purchase Agreements
Legal Services for Asset Purchase Agreements in Canada An Asset Purchase Agreement (APA) is one of the most common legal agreements used when purchasing or selling a business. Unlike a share purchase, where ownership of a corporation changes hands, an asset purchase generally allows the purchaser to acquire selected assets while leaving many historical liabilities...
Read MoreHow To Buy Shares in a Private Canadian Corporation
Basics of Obtaining Share Ownership of a Company in Canada Defining A Shareholder And Share Ownership A shareholder is essentially an owner of a corporation. When you buy shares, you're acquiring a piece of that company. These shares represent your ownership interest and, depending on the class of shares, can come with various rights. In...
Read MoreHow To Sell Shares in Your Corporation
Understanding Share Sales in Canadian Corporations When you decide to sell your Canadian corporation, you generally have two main paths: selling the company's assets or selling the company's shares. Most often, the person selling prefers to sell the shares. This is usually because it can lead to better tax outcomes, particularly with the way capital...
Read MoreHow To Transfer Shares in a Company
Understanding Share Transfers in Canadian Corporations Defining Share Ownership and Shareholder Status In Canada, owning shares in a corporation means you hold a piece of that company. This ownership grants you specific rights and responsibilities. When you acquire shares, you become a shareholder, which is a formal status within the corporate structure. The articles of...
Read MoreHow to Issue Shares In Your Own Corporation
Share Issuance Basics for Companies in Canada Issuing shares is a fundamental step in the life of a Canadian corporation, representing the sale of ownership stakes. When your corporation issues shares, it's essentially selling pieces of itself to investors in exchange for capital. This capital can then be used to fund operations, expansion, or other...
Read More10 Clauses To Include In A Commercial Contract To Protect You
Know Just Some Of The Provisions To Put In Your Company's Agreements To Protect Its Interests 1. Payment Terms When you're setting up a business deal, getting the payment terms right is pretty important. It's not just about the total amount; it's about when and how that money changes hands. Clear payment terms prevent a lot of headaches down...
Read MoreWhat Documents Should Be In a Corporate Minute Book?
Basics of the Corporate Minute Book Definition and Purpose of a Minute Book A corporate minute book is essentially the official diary of a company. It's a collection of all the vital legal and governance documents that chart the corporation's journey from its inception to its current operations. Think of it as the company's memory,...
Read MoreHow To Fix an Outdated and Deficient Corporate Minute Book
A corporate minute book is one of the most important legal records maintained by a corporation in Canada. Unfortunately, many businesses discover that their corporate records are incomplete, outdated, or missing critical documents only when facing financing, investment, regulatory review, litigation, or the sale of the business. An outdated or deficient minute book can create...
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