Vancouver Dental Business Lawyer
No matter which stage you are in with your dental career, you are going to face legal challenges in your dental practice, especially if you decide to start your own practice.
You want to run your dental business seamlessly and maximize its value right?
It’s rhetorical but the answer is a resounding YES!
Patrola Law is experienced in representing BC dentists and understands the ins and outs of the dental industry. We can help you optimize the structure of your practice to avoid legal headaches and assist you if problems ever emerge.
Our team provides the following comprehensive services to protect all aspects of your practice.
- 1 Buying and Selling a Dental Practice
- 2 Dental Corporations / Professional Corporations
- 3 Staff and Associates Contracts
- 4 Leases and Real Estate Acquisitions
- 5 Trademarks and Brand Protection
- 6 Wills & Estate Planning
- 7 Interested in solidifying your dentistry business?
Buying and Selling a Dental Practice
Are you in the market to buy or sell? Do you have all your legal ducks in a row?
Whether you’re starting a new practice, buying or selling an existing one, the transition process is complex and involves many moving parts.
Without legal representation, any false moves can be a costly financial mistake for you.
Having Patrola Law represent you will ensure that your interests are promoted and a deal is negotiated in your favour, with your legal rights protected.
Dental Corporations / Professional Corporations
Why should I incorporate my dental practice?
Incorporating your practice offers many cost-saving advantages as well as benefits you may not be aware of:
- Allow you to save taxes by deferring them to your corporation
- Gain lifetime capital gains exemption when you sell your shares
- Splitting your income between family members
- Faster loan repayment to the banks (due to larger after-tax savings compared to sole proprietors/partnerships)
- Save on estate administration taxes through a corporate will
- Shielded from personal liability by the corporation
We can help you draft the neccessary documents:
- Incorporation Agreements
- Partnership Agreements
- Shareholder Agreements
Staff and Associates Contracts
If you are planning to buy or sell a practice, you will be required to deal with the transitioning of staff and the potential liability that may come with it.
In the Case of the Purchaser
- Is there liability if you’re not retaining the entire staff after transition?
- Will the vendor be staying on as an associate?
In the Case of the Seller
- Are there any liability issues with the associate agreements after the sale?
- Are there any liability issues with the employment agreements after the sale?
Leases and Real Estate Acquisitions
Are you familiar with the terms of your lease?
When you buy or sell a dental practice, the ownership of the lease also changes hands. You need to be aware of all the clauses associated with the lease to ensure a smooth and risk-free transition for both parties.
The following lists some key items you need to be mindful of:
- Assignment provisions – Are there any restrictions preventing your ability to transfer or sell your practice?
- Personal guarantees in the lease – Has the lease been signed under you personally instead of your business?
- Practice expansion – Does the structure of the lease offer flexibility to add associates or sell your practice in the future?
- Term renewals – Is there enough term and renewal options after you buy the practice? Generally renewal options are terminated during a lease assignment
- Relocation clause – Does the landlord have the right to relocate your practice?
- Early termination clause – Does the landlord have the right to terminate your lease and evict you?
Trademarks and Brand Protection
With literally thousands of dental practices operating across Canada, you must ensure that your intellectual property rights are protected to the fullest extent.
The last thing you want is to have spent thousands of marketing dollars, only to realize that you’ve infringed on another dentist’s trademark.
Both re-branding and potential litigation issues can be time consuming and costly, putting a damper on all the hard work you’ve put into your business.
Patrola Law will help you properly set up and manage your intellectual property from the get go.
We’ll secure your:
- Business name (trade name)
- Company logos
- Product/service names
- Sound marks
You’ll feel secure knowing that your brand is well protected for the long term success.
Wills & Estate Planning
Having a will is extremely important.
If you create a dentistry corporation, you will require dual wills.
Without having a properly made will, you risk having the government decide on the distribution of your assets. You never know when a major change in your life may occur (e.g. death, divorce, large asset purchase).
In your will, you can ensure that your estate gets distributed to your loved ones in the way that you want it to be distributed.
It’s advisable to have an estate plan prepared.
Our estate planning lawyers can help you with the following areas:
- Family Trusts
- Powers of Attorney
- Representation Agreements
- Asset Protection Planning
Interested in solidifying your dentistry business?
Speak to a dental lawyer that understands your language.
Call Perpinder at (778) 565-4700 to talk about your practice today.