Business & Incorporations
Incorporating your business in Ontario is an exciting step for new and growing businesses, which can protect you against personal liability for business debts and obligations and can offer you other benefits as well. Other advantages of incorporation in Ontario include:
- Limited liability: Shareholders are not responsible for the debts or obligations of the corporation unless they have personally guaranteed the company’s debts.
- Separate legal entity: Under Canadian law, a corporation has the same legal rights and obligations as a natural person including the ability to: enter into contracts, own property, take on debt and sue or be sued.
- Continuous existence: A corporation does not cease to exist upon the death of its owners, but continues to exist until it is formally liquidated.
- Tax advantages: Accountants tend to recommend incorporation once the revenues of a business reach a certain level. Please consult with your accountant or tax professional for advice on the best course of action for your situation. Incorporating your business does not have to be a long, complicated, process. Axess Law will make incorporation a quick and easy step for your business.
When starting a new business venture, one of the first steps you will take will be coming up with a business name, and more importantly, one that is unique to any other business names already in existence. We can guide you through the process of registering your business name for any of the following business types:
- Sole Proprietorship: A business name must be registered with the Province of Ontario if it is different from the owner’s legal name.
- Partnership: Each partnership located in Ontario must register its business name with the province.
- Corporation: A corporation may need another business name related to certain business activities it carries out.
Registering your business name through Axess Law will make this process simple, straightforward, and get your business off to a running start.
One benefit that comes from incorporating a business is the ability to offer shares in your corporation, in exchange for investments. This process can be complex and sometimes confusing, so a shareholder agreement is recommended to outline and explain all details associated with the shares. These details can include anything from the number of shares initially offered, to dividends that your company is issuing, to the rights and obligations of shareholders. Axess Law is here to make this process easy and straightforward for you. Simply stop by one of our locations and we will be pleased to create a Shareholder Agreement specifically suited to your business needs.
A partnership agreement is an agreement between two or more individuals who will join as partners, and carry on business for profit. This agreement outlines many aspects of running a business from how profit and losses are shared, to how decisions pertaining to daily business functions are made. For any business with two or more partners, having this agreement in place allows for seamless decision making, and more importantly minimizes future obstacles and disagreements between partners. If you are ready to formalize your partnership, stop by an Axess Law location today and we will be pleased to create a Partnership Agreement specifically suited to your business needs.
When looking for a loan, going to a bank may not always be the best option, especially if a friend or family member is willing to lend you the money as an alternative. Borrowing funds in this fashion allows you to negotiate interest rates, methods of repayment and can even offer various items as collateral. It is important to outline payment procedures and put agreements in place to ensure both parties are legally protected and understand the terms of the loan. Axess Law can help you tailor the terms of your loan, to make the lending process easy and effortless for both parties.
A Bill of Sale is a document that details a sale of goods or transfer of property from one party to another. It can be used for the sale of most objects, from vehicles and water crafts, to furniture and various types of equipment. When selling or purchasing anything involving unique circumstances such as a warranty, the Bill of Sale will allow these terms and arrangements to be communicated in a clear and concise manner. In addition, the Bill of Sale allows for a negotiated price or payment schedule to be agreed upon and understood by both the buyer and seller.
Do you have a commercial space that you would like to rent out or maybe you are a commercial tenant looking to rent the perfect space? Look no further. Axess Law can draft a customized Commercial Lease Agreement to suit your needs, protect your interest and thus start you on the road to success.
Are you owed unpaid and past due invoices? Have you been provided with an awful service which lacked the quality you were promised? Our Litigation team will review your matter, draft a formal Demand Letter and send it on your behalf seeking for immediate reimbursement. Don’t wait for what you are owed. A Demand Letter is the first legal step to take.