What’s a holding company?
What if I told you that there’s a way to save on taxes, and protect your business’ profits and valuable assets from its creditors?
Legal Aspects of Business Succession Planning
posted in: Corporate Law, Corporate Records, Estate Planning, General Small Biz Info, Sale of a Business |
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Entrepreneurs dedicate their lives to growing their business, but how on earth can they retire? Toronto lawyer Mike Hook explains that a well-thought-out business succession plan is the first step…
Legal Aspects of Business Continuation Planning
This article is the second in my series on what’s involved in planning for the worst. In the last one I gave an overview on who and what is involved in the process. This time I’ll lay out some of … Continued
Contingency Planning for Small Business
Owning your own business is kind of like giving birth to a needy child. It will fill your days with all manner of excitement, some good, some bad. There also comes a time when you need to start considering what … Continued
Incorporating an Existing Business
posted in: Contracts & Commercial Law, Corporate Law, Partnerships, Sale of a Business, Sole Proprietors, Tax |
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I’ve talked about the pros and cons of different business structures in an earlier article, but what happens when you start out as a sole proprietor or in a partnership, and later want to incorporate? The transition needs to be … Continued
Unanimous Shareholder Agreements
This can be a confusing topic. There’s a whole lot of stuff written about it, utilizing an abundance of excessively Brobdingnagian verbiage, but it’s usually a lot of talk about what a unanimous shareholder agreement (or “USA”) is, rather than … Continued
Why does my corporation need a minute book?
In the hustle and bustle of running your business, record keeping often falls by the wayside. Most small business owners put corporate record keeping somewhere below “eating gravel” on their to-do list. The corporation’s minute book is often never even … Continued
Non-Competition Agreements in the sale of a business
So, there I was, the dapper lawyer at the cocktail party, entertaining everyone with tales of legal derring-do. All were enthralled by my war story about finding a type-o on page 64 of a contract. “Tell us another!” shouted one. … Continued
How do I structure my business?
One of the most common questions I get from entrepreneurs at networking events is how to structure their business. Actually, the conversation usually starts with a question about whether or not I “do incorporations” (the answer is yes, btw). It … Continued
Duties and Liabilities of Directors and Officers of a Corporation
So, you’re the proud owner/director/president/chief-bottlewasher of a shiny new small business corporation. “President” looks sharp on your business cards. You’re primed to flex your management muscle, and power the company into the marketplace. With that power comes responsibility and risk, … Continued