An Expert in Business Law
YOUR COMPANY: SITUATIONAL ANALYSIS AND OBJECTIVES
To ensure that you are on the right track, your notary will begin with a comprehensive analysis of your company’s legal situation. Working together, you and your notary can develop an effective plan of action to help you achieve your objectives.
An analysis of your company’s basic characteristics is an important prerequisite to the establishment of the legal structure best suited to it .Such an analysis is, of course, ideal at the company’s start-up stage, but can be donc at any time. As companies grow and change, or as new objectives and projects emerge, new analyses may have to be made.
LEGAL STRUCTURES OF BUSINESS ORGANIZATIONS
Taking into account certain unavoidable factors such as the importance of your capital funding, your preferences regarding teamwork and your managerial skills, your notary will provide you with a clear explanation of the advantages and disadvantages of the various legal forms available to businesses. He or she will inform you of aIl the possibilities you can choose from with regard to:
- sole proprietorship;
- different types of partnerships;
- business corporations governed by federal or Quebec law;
- franchising;
- other forms of companies.
Armed with complete, detailed explanations from your notary, you will be in a position to make an informed decision and you will know exactly what the legal and fiscal ramifications of that decision are.
Your notary will now be able to draw up the necessary documents for the establishment or the structural modification of your company, whether in the form of a partnership contract, a shareholder agreement or any other relevant document.
CORPORATE TAXATION
Tax planning has become a key factor in sound corporate management. Here again, many notaries have acquired the expertise needed to help you prepare a comprehensive strategy, taking into account various possibilities such as:
- estate freeze;
- management companies;
- share redemption programs.
These expert notaries can also evaluate the tax consequences of the sale of your company on your estate and your heirs.
COMPANY FINANCING: MONEY DOESN’T GROW ON TREES!
lt takes money to make money. Your company needs sound financial resources to ensure that it develops to its fullest potential. Backed by legal training and a f’irm commitment to the business community, your notary can help you develop realistic financing projects that are perfectly suited to your company.
Your notary is right at home when it comes to developing an integrated financing plan and sellïng it to potential.financial partners, taking into consideration:
- sources of funding (shareholder advances, line of credit, hypothecary loan, equity loan, etc.);
- guarantees (security on property and personal guarantees);
- assistance programs and subsidies, where relevant.
Throughout a company’s entire existence, financing rernains a daily concern, as much at the start-up or restructuring stage as at the acquisition or expansion phase. When you reach the point of wanting to transfer your company – to the next generation or to a third party – your notary can help negotiate the financial agreements.
WHAT IF YOU ARE INJURED?
What would happen if, one day, you became incapable of running your business or making corporate decisions? Although no one wants this to happen, your notary will advise you nonetheless to sign a mandate in anticipation of incapacity. Among other things, this mandate will name the person who, in the event that you are unable to act, will ensure continuity and take control of the company. An initiative such as this will enable you to choose the person you consrder the most qualified to run the company, and will often avoid family friction and conflict.
