Corporate Structure Lawyers
Proper Corporate Structure
Corporations are formed under the Business Corporations Act. Most people understand there are tax benefits, limited liability and other benefits to incorporating your company. However, it is also important that you ensure the corporation is structured in a way that best suits your business needs. Those needs include those that allow the company to take full advantage of the benefits of incorporation. Get help from the corporate structure lawyers at Kahane Law Office from either of our Calgary or Edmonton offices.
What Are Corporate Structure Lawyers?
Corporate structure lawyers help you understand your different options. They also give you advice about the best way to organize your company. They initially set up your company in a flexible manner. This ensures that you have the ability to make changes to your business without difficulty in the future. Different considerations need taking into account depending on the number of people involved in the business, financial requirements, tax consequences, and the associated liability. They can factor in all the above and help you chose a structure that will be most beneficial for your business. They also explain the different consequences associated with the particular structure of your business.
Do You Need a Corporate Structure Lawyer to Incorporate a Company?
No, you can incorporate your company at the registry office. A provincial registry office in Alberta has the ability to incorporate your company. However, the biggest distinction is that they are not able to provide you with legal advice. Corporations are very complex which is why it is important to seek legal advice when you initially incorporate. If the original structure of your company is not flexible, to allow for changes in the future, you will have to amend the company Articles of Incorporation. This is a complicated process that involves you spending more money every time you need to make changes.
Another benefit of having a corporate structure lawyer incorporate your company is that they ensure you have all the necessary organizational documentation in your minute book for the company to begin operating. The lawyers are able to draft the company by-laws and give you advice regarding shareholder agreements, director and shareholder resolutions and other important documentation. They are also able to maintain your corporate minute book on an ongoing basis.
When Companies Should Hire A Lawyer?
You should always use a lawyer to incorporate your business to ensure you fully understand how the business is organized and the legal consequences associated with the way the corporation is structured. It is important to organize your business properly, especially when there is more than one owner, when you need financial assistance or when you want to attract other investors. Financial institutions have certain requirements that they look for before lending a corporation money and you want to ensure your company can meet these requirements.
When there is more than one owner, it is important to organize your company that protects each owner. To do this, you will want to have different types and different classes of shares within your company. It is easiest to have this done when you first incorporate. That way you are able to treat certain shareholders differently if necessary. The benefits of using a lawyer is that they are able to identify your needs. They also give advice about the best way to organize your company from the beginning.
Restructuring Existing Companies?
If you have already incorporated your company and now realize that you need to re-organize your company for tax, liability or other purposes, corporate structure lawyers will help you re-structure your business in a manner that suits your needs. They will also issue any necessary shares and provide you with any organizational documents that your company is missing.
Other Benefits Of Using A Corporate Lawyer?
Corporate structure lawyers also give you a better understanding of the responsibilities, liabilities, and duties owed to the corporation. Structuring a corporation is particularly complex. It is important to actually understand what you can and cannot do as a director, officer or shareholder of the company. The structure of your company will determine how much flexibility you have with regards to a number of things. For example, this includes paying shareholders or passing different resolutions to make certain changes. If you are a director or officer of the corporation, you have a heighten responsibility and fiduciary duty to the corporation. You must understand how strict this duty is. Corporate structure lawyers also give you legal advice with regards to this duty.
Speak with a Corporate Structure Lawyer Today!
Are you considering starting a business or already incorporated at a registry? It is in your best interest to contact a corporate structure lawyer to ensure that your company is organized in a manner that best suits your business needs. The lawyers at Kahane Law Office have experience incorporating and structuring companies. These include a variety of different industries and they use their expertise to ensure your company is organized properly. Contact our office today at 403-225-8810 or email, to speak with one of our lawyers about the different options available!