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Recent Posts:
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PLZ Law Blog
Category Archives: Incorporating, Partnering & Joint Ventures
PARTNERSHIPS: Limited Partnerships (LP) vs. Limited Liability Partnerships (LLP)
Date: May 2, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Limited partnerships are formed to carry on any business that a general partnership can also do. Its principal feature is that the liability of each limited partner is limited to the amount of money or other property that partner contributes. According to the Limited Partnerships Act, a limited partner may contribute money or property to ...
PARTNERSHIPS: The essentials on a General Partnership.
Date: May 1, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
As partnerships are normally comprised of more than one decision-maker, rules to provide a framework for the relationship between the partners carrying on business together, and to determine the rights of third parties dealing with the partnership, were developed by the courts of common law. Codified in the Partnerships Act, such law provides that the rules ...
FRANCHISING vs. LICENSING and CHARITIES vs. NON-PROFIT ORGANIZATIONS
Date: April 26, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
The Franchise Relationship & Licensing Transferring from one person to another, information or industrial or intellectual property rights to enable the transferee to engage in a commercial activity is the basis of franchise and licence agreements, yet simply just another form of contractual relationship. Business entities between them can make a franchise or license agreement of ...
BUSINESS: Sole Proprietorships, Partnerships, Limited Partnerships, Limited Liability Partnerships, Corporations & Joint Ventures
Date: April 24, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
The most basic form of business organization, used in a wide variety of circumstances, is called a sole proprietorship. Such organizations are relatively inexpensive to set up and require few legal formalities. In fact, a sole proprietorship comes into effect when an individual carries on business for his or her own account without the involvement ...
THE SHAREHOLDERS AGREEMENT: The most important agreement of your Company!
Date: April 17, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
First and foremost a contract, a shareholders agreement has all the ingredients thereof, for it to be binding and legal. There is an offer and acceptance, consideration, capacity, and above all a bona fide legal purpose. They (shareholders agreements) are a class of contracts relating specifically to the relationship between some or all of the ...
PIERCING THE CORPORATE VEIL: The Doctrine of Alter Ego
Date: March 11, 2010 | Author: Maxim Zavet, BA, JD
SImply registering a corporation does not insulate an individual from liability. The corporation must be organized and run properly in order to create a seperate entity.
CORPORATE LAW & THEORY: Examples of Share Classes (Rights & Restrictions) and Corporate Organization
Date: February 12, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Much too often I receive questions about the rights and restrictions that corporate shares carry with them, and what the concept of having different classes of shares is all about. Thus, I decided to post up the most common examples of share classes and the way the rights were attributed to each class; so that you, the ...
PROVINCIAL INCORPORATION: Deeper into Federal vs. Provincial
Date: February 10, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
The provincial law in Ontario stipulates that a company doing business in the province should also incorporate there. Meticulously satisfying the incorporating requirements therein, along with advice from lawyers and accountants, the process of forming a company would not be difficult. Obviously, the first thing would be to find a name for the company, which in Ontario, ...
WHEN THE SHAREHOLDERS FIRST MEET
Date: February 9, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
The first shareholders’ meeting should be called by the directors of the company within 18 months of the company’s date of incorporation. Generally, such a meeting is usually held after the first organizational meeting of the directors at the time of incorporation. At this meeting, the shareholders: Elect directors; Confirm, modify or reject the By-Laws ...
NITTY GRITTIES OF FORMING A COMPANY
Date: February 8, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Registration Registration is very different from incorporation. A company has to incorporate only once, but it has to register to carry on business in any and all the places it intends to do business. Doing business in a province or a territory can mean running a business there, having an address, a post office box ...
