One of the proudest decisions, and achievements, anyone can make is starting your own business. Whether it’s a small business that employs one-to-20 people, or a larger corporation that services local and international jurisdictions, becoming a business owner not only means being your own boss; it means having an impact on countless others, too.
Here to help businesses
And, let’s face it. Although we’re lawyers here at the Hosseini Law Firm (HLF) in Richmond Hill, Ontario, that specializes in many areas of law, including business law and incorporation, we don’t actually make businesses happen. That’s what you do. However, what we do offer is sometimes vital help in navigating the legal waters associated with being a business owner.
For example, one of the first decisions any business must make is determining if you want to be a corporation, partnership or sole proprietorship. Whether you’re living in Richmond Hill, Ontario, or anywhere else in Canada, the ramifications of such a decision can be formidable.
Specifically, being a corporation involves various advantages, such as being a legal entity that protects business owners from direct legal liability. In addition, incorporating in a certain jurisdiction gives a business certain rights pertaining to another important aspect of owning a business, which is giving it a name. Corporations receive naming rights within the specific jurisdiction of incorporation, whether it’s in a province, in Canada federally, or even on the international stage.
The choice is yours
On the other hand, one can register the name of a business, or become a sole proprietorship or partnership, without some of the legal obligations surrounding the formation of a formal corporation.
It’s up to you, the business owner, to determine what business decisions, especially at start-up, are best for you, and obtaining the services of qualified lawyers in the field of business law and incorporation is often worth far more than the fess they earn.
If you need professional small business, incorporation or general legal advice in Richmond Hill, the Greater Toronto Area (GTA), Ontario, or anywhere else in Canada, please phone us here at Hosseini Law Firm (HLF) for a 15 minute free consultation: 416-628-4635, or please use the contact form provided on this page. Thank you.