Do you ever wish your two best friends were a lawyer and an accountant so you could get free advice for your small business? We can help you with a lot of things at Business Link, but we're not magic. Or are we? Through the magic of relationships, we've asked two of our expert volunteers, Crystal Lucier, an accountant, and Jordan Mertz, a lawyer, to answer some of the most pressing questions we get about structuring your business in Alberta.
Blog Category: Legal issues
Classes of shares? Maximum number of shares? Directors? Many a Business Link client has called expressing frustration in trying to set up their own corporation. And while we strongly recommend you utilize the services of a lawyer to fill out this important documentation, that shouldn’t stop us from giving you a little background into the form and what you should be considering for the birth of your corporation.
If you are starting a business, there are TONS of things you need to think about—everything from getting your business license to setting up a bank account to creating a website. But one area people often neglect relates to Intellectual Property (or IP for short). IP is broadly defined as being any “creations of the mind,” or the set of legal rights individuals or entities attain through intellect in the development of concepts, inventions, and creations. These may be ingenious new inventions, a unique logo, or a creative design.
The legalization of marijuana is estimated to give the Canadian economy a boost of $12.7 – $22.6 BILLION, according to a study from business services firm Deloitte. While you’ll need millions of dollars to become a marijuana producer and you’ll need tens of thousands to open a retail location (See: Cannabis-ness Succeed? The Straight Dope), what’s left for the rest of us?
Buying a new sweater online and accepting the terms of purchase, downloading an app to your phone, or signing with your finger on an iPad to accept a job offer – in each instance your actions are the same as signing your name on paper.
eSignatures can take various forms, but they all allow us to enter legally binding contracts without having to go through the slow and cumbersome process of physically signing a document.
The government announced a huge policy change that revolutionized the face of business in profound ways. This was back in 1993 when the Alberta government decided to privatize liquor sales. Up to that point, liquor sales were done in a cold, formulaic way that only a government could. The government of the day decided to open up the market to private enterprise, and everywhere you looked, everyone you talked to, people saw opportunity and money. I watched the whole thing unfold with rapt attention.
Free rent is just one negotiable factor in a commercial lease, which my business partner and co-author, Jeff Grandfield, and I explain in our new book, Negotiating Commercial Leases & Renewals FOR DUMMIES. Even if you did not receive a rent-free period when you signed your first lease, you may be eligible for one when you renew (although you may have to work harder to get free rent on a renewal).
You've been running your own business for about a year, or maybe you're still in the researching stage and thinking about what business structure may work best for you. Whether you're leaning towards a sole proprietorship or a corporation, it's crucial to do your research and know what's involved in both. If you're considering incorporating, consider these key facts from a legal perspective, on the benefits and drawbacks before you move ahead.
One of the most common questions I get from clients is: Should I trademark my name/slogan/logo?
If you're one of the many entrepreneurs thinking about starting a business this summer, you're probably exploring what business structure may work best for you. Choosing a business structure is one of the first and most important decisions you will make as a business owner. It's important to know that the choice of your business structure will directly affect many aspects of your business including ownership obligations, financing, liability, taxation and succession. You may already be familiar with the three common business structure choices: