Incorporation Lawyer & Business Startup in Toronto
Cost-Effective Solutions for Individual & Small Business Success!
Serving the Greater Toronto Area
and the rest of Ontario
Incorporation Lawyer in Toronto
Are you looking to startup and incorporate your business in Ontario? Our dedicated incorporation lawyer specializes in providing comprehensive legal services tailored to meet your needs. Insight Law Professional Corporation is dedicated to aiding entrepreneurs and start-up companies in launching their new ventures. Our business team offers advice on crafting optimal company structures, mitigating legal and financial risks, and capitalizing on available financial incentives. With our guidance, you can lay a strong foundation for your business and set it on a path towards long-term success.
We are conveniently located in midtown Toronto, minutes from the Eglinton-Yonge station. Call us 647-300-8391 or click button above to book a FREE consultation.
Toronto Incorporation Lawyer
Whether you are starting a sole proprietorship business or restructuring an existing business, we can assist you in customizing a plan that addresses your requirements while avoiding undue complexity. A small business lawyer in Toronto can guide you through the legal requirements of incorporating a business and ensure the process is legally sound.
Some of our incorporation services are:
- Articles & Certificate of Incorporation
- Digital Minute Book
- Director & Shareholder Resolutions
- Share Subscription & Share Certificates
- Registers & Ledgers
- Corporate By-Laws
- Form 1 & Form 2 Initial Returns
- Corporate Name Searches
- Business Number/Tax Accounts
If you need assistance from a Toronto Corporate Lawyer, contact us today and see how we can help you.
What is the Right Structure for my Business?
At the start of a new business, it is a crucial consideration to determine the manner which your business will be structured. Decisions made at the earlier stages of a new business might have significant importance and impact the business in the future.
When starting a business, there are a few options to consider:
Sole Proprietorship
For those who wish to start by themselves, operating as a sole proprietor is an option. In order for you to operate under a sole proprietorship, you’ll need to register a business name, obtain a business number and an HST number if required. It is the most cost-effective and straightforward structure you might choose. On the other hand, as a sole proprietor, you should assume personal responsibility for business debts and liabilities. You will also be paying income tax on your earnings at your personal marginal which can result in higher potential liability and tax burden.
General Partnership
When starting a business with others, you can opt for a general partnership. As a partner, you’ll typically share personal responsibility for any debts and liabilities of the partnership, regardless of whether you incurred them. Meaning that if you partner takes out a loan, you will also be personally liable.
Incorporation
Incorporation is another option that you might want to consider while starting a new business regardless of whether you’re starting a business alone or with others. A corporation is a distinct legal entity (a legal person) that possesses all the rights and privileges of a natural person such as owning property, borrow money and entering into binding contracts. A corporation has directors and shareholders as well as legal responsibilities to maintain incorporation documents filed and up to date.
In addition, incorporating your business can have certain advantages such as limited liability protection, tax benefits, credibility of your business etc. A corporation does not necessarily end with the death of its owner as in sole proprietorship. However, if you wish your business to exist, you might have to do some planning with your family or employees or even creating a will. If there is more than one shareholder in your corporation, you might want to consider having a shareholder’s agreement in place to plan for the transition.
Should Incorporate Provincially or Federally?
You have decided your business structure and you want to incorporate. In Canada, incorporations are regulated both provincially and federally. At the federal level, companies are incorporated through Corporations Canada. At the provincial level, each province has its own incorporation services. In Ontario, this is done through the Ontario Business Registry.
Deciding on whether you should incorporate provincially or federally depends on several factors such as the scope of business operations, costs associated with incorporating a business and tax advantages.
If you incorporate your business provincially, you’ll be able to conduct business only in that province whereas a federal incorporation will allow you to do so across Canada. Same thing applies to your business name protection. If you incorporate provincially, your business name will be protected on a provincial level, however a federal incorporation might protect it across the country. If you have other type of concerns about your brand, you might want to consider trademark as well.
As mentioned above, finding the type of business structure tailored to your needs requires a detailed planning process. It involves evaluating the benefits of different business structures and determing which one offers the most benefits and advantages that align with your business goals, needs and future projections.
If you are in search of guidance from a Toronto corporate lawyer, contact us and see how our firm can help you!
Corporate Minute Book
The corporate minute book serves as a comprehensive and enduring record for corporations to keep track of their activities and regulations. It is a primary means of organizing and retaining all your corporation’s paperwork. Corporate minute books are usually retained at the head office of the corporation or the office of the corporation’s lawyer.
Apart from being a legal requirement, corporations should keep a minute book since it has several advantages. Properly maintaining a minute book is crucial, as it ensures compliance with legal requirements and helps protect the corporation’s interests. First, a well-maintained corporate minute book can help prevent disputes, as it ensures that corporate decisions and ownership percentages are thoroughly documented. In addition to that, it’s important to note that your corporate records may be reviewed by the corporation’s accountants or the Canada Revenue Agency.
If you are a business owner and planning to grow your business or sell it, potential buyers or investors will typically conduct a review of your minute book as part of their due diligence.
Business Lawyer Price List
Startup & Formation
Incorporation Packages Include
-
Simple Share Structure
-
Meeting with Client
-
Corporate Name Searches
-
Business Registry
-
Articles & Certificate of Incorporation
-
Minute Book
Organization
Operations & Management
Franchising
Review of franchise agreement and disclosure document
$1,500 + HST + DisbursementsFranchise incubation where we take a client with an 'idea' through to the point where they are prepared to start the formal process of legal documentation.
Starting at $3,000 + HST + DisbursementsFranchise documentation where we provide the incubation and preparation of the Franchise Code Compliant franchise agreement and disclosure document and any other requested documents such as operations manual and development of franchise marketing & recruitment policy. Contact us for a detailed quote for your circumstances.
Starting at $10,000 + HST + DisbursementsFinancing
Business Exit
Starting at $2,150 + HST + Disbursements
*Prices are subject to change depending on the circumstances and the complexity of each matter.
WHAT MAKES OUR FIRM DIFFERENT
Why Choose Insight Law Professional Corporation
Professional
We're dedicated to providing friendly and knowledgeable service to ensure a positive experience for all our clients and achieve the best possible results in every case.
Client Focused
We prioritize client satisfaction and take a personalized approach. By attentively listening to our clients, we develop tailored solutions to meet their unique requirements.
Transparent
Our fixed prices and hourly rates are visible upfront. Most of our add-ons are fixed line items. Because honesty is the best policy, saving time on both sides.
Flexible
We understand that our clients may be busy and may not be available during normal working hours. We are happy to work with you to find a time that suits your needs.
WHAT PEOPLE SAY
Client Testimonials
GET ANSWERS
Business Law Frequently Asked Questions
What Is a Corporation?
What Is the Difference Between Shareholder and A Director?
Do I Need a Lawyer to Incorporate My Business?
Why Is It A Good Idea To Get Contracts In Writing?
What Are the Elements That Each Contract Should Include?
Do I Need a Lawyer to Get My Contract Drafted or Reviewed?
What Is the Difference Between Asset Purchase and Share Purchase?
Do I Need a Lawyer for Commercial Financing?
What is a Personal Guarantee on a Business Loan or Commercial Lease?
NEWS & ARTICLES
