STARTING. BUYING. SELLING.
RUNNING A SUCCESSFUL BUSINESS HAS MANY DIFFERENT AND IMPORTANT ASPECTS. BY RETAINING HUDSON LAW TO HANDLE YOUR CORPORATE MATTERS, YOUR INTERESTS BECOME OUR TOP PRIORITY. WHEN YOU NEED ADVICE ON THESE COMPLEX CORPORATE MATTERS OUR TEAM IS HERE TO HELP KEEP YOU ORGANIZED AND ON THE RIGHT TRACK. THIS WAY YOU CAN FOCUS ON YOUR BUSINESS.
You may be wondering about the proper legal steps to take to set up your new business. Should you run your new business as a sole proprietor, through a partnership, or through a corporation? You need proper advice to feel confident knowing you have set up your business correctly and that you and your business are properly protected.
In most new businesses, the founders take on many roles, such as CEO, bookkeeper, salesperson, administrative assistant, and sometimes janitor. Let us handle the legal aspects of your business so you can focus on the things that make you the most valuable to your business.
Embarking on this rollercoaster can be both terrifying and satisfying. We’ve been there. Hudson Law started as a 1-person firm with no clients and no office. Some of our team members have even started successful new businesses of their own. We can truly empathize with you and we understand the challenges you face as a new business owner. Let us set you up for success!
If you have decided that you want to do business through a corporation, you are probably wondering how to go about incorporating (i.e., creating the corporation).
If you are considering incorporating yourself without a lawyer to save a few bucks, either at a registry or through an online incorporation service, please reconsider! You are not receiving the benefit of any advice and it often costs 3-4 times more to fix the mistakes made in those situations compared to the cost of using a lawyer in the first place. We know you take your business seriously so contact us to get your incorporation set up properly right from the start!
Our incorporation service also includes the creation of a minute book (the corporate record book the corporation is required by law to have) and all of the bylaws, resolutions, subscriptions, share certificates, registers and ledgers that go into the minute book.
A shareholders’ agreement is a contract that governs the relationship between the the owners of the corporation. If you own a corporation with anyone other than your spouse, you need a shareholders’ agreement!
Business partners normally get along at the start of the business (otherwise they wouldn’t be going into business together) but that doesn’t always last. Without a proper shareholders’ agreement in place there is no mechanism to deal with decision deadlock, resolve disputes, force a shareholder to sell his or her shares, or to force the other shareholder to buy your shares.
For more info, read our blog posts on Why You Need a Unanimous Shareholders’ Agreement and What Should You Include in Your Shareholders’ Agreement, or contact us.
The minute book contains the corporate records that each corporation is required by law to have. It contains the certificate and articles or incorporation, bylaws, director resolutions, shareholder resolutions, share subscriptions, share certificates, share registers and ledgers, register of directors and officers, copies of annual returns and any notices filed with corporate registry, and copies of important agreements such as the unanimous shareholders’ agreement (which you may not have, but probably should).
When we incorporate your business we also create a minute book with all the proper documents. If you do not have a minute book, or you have an out-of-date or incomplete minute book, speak with us about creating or fixing one for you.
Each corporation is required by law to have a “registered office” – an address that is publicly listed with corporate registry, accessible to the public during regular business hours. It is where the minute book (i.e., the corporate records) are kept and where the corporation gets served if it is being sued.
Let Hudson Law act as registered office for your corporation. As part of our registered office service, we prepare the annual director and shareholder resolutions that your corporation is required by law to complete each year. We also prepare and file the annual return that must be filed with corporate registry each year to keep your corporation in good standing. If you would like more info about Hudson Law acting as registered office for your corporation please contact us.
IF YOU ARE CONSIDERING BUYING A BUSINESS, WE WILL HELP YOU GET A PLAN IN PLACE AND GUIDE YOU FROM THE PRELIMINARY NEGOTIATIONS TO CLOSING THE DEAL. WE CAN ADVISE YOU ON THE ADVANTAGES AND DISADVANTAGES OF AN ASSET PURCHASE VERSUS A SHARE PURCHASE, AND THE VARIOUS TAX AND LEGAL ISSUES SPECIFIC TO YOUR TRANSACTION.
YOU HAVE SPENT YEARS OF HARD WORK BUILDING YOUR BUSINESS. WHEN THE TIME COMES TO SELL, YOU WANT TO MAXIMIZE YOUR VALUE, WHILE ENSURING A SMOOTH TRANSITION AND PROTECT YOUR LEGACY.
IT IS NEVER TOO EARLY TO START SUCCESSION PLANNING. THERE ARE COMPLEX TAX AND LEGAL ISSUES TO CONSIDER THAT CAN VARY DEPENDING ON WHETHER YOU ARE TRANSITIONING YOUR BUSINESS TO A THIRD PARTY, FAMILY MEMBER, OR KEY EMPLOYEES.
WHETHER YOU HAVE A PENDING SALE OR PLAN TO SELL YOUR BUSINESS IN THE NEXT FEW YEARS, WE CAN HELP CREATE THE BEST STRATEGY TO MEET YOUR GOALS.