Top 7 Legal Considerations Before Buying a Franchise Business
Many believe buying a franchise presents an easier path to a successful and profitable business instead of starting your own company because you are purchasing an established brand with “turnkey” operations. It sounds enticing, but in reality, investing in a franchise involves a myriad of legal
Should I Incorporate a Named or Numbered Company?
Listen to this post In short, there is no legal difference between incorporating a named or numbered company. However, the difference lies in what you wish to do with the company. Incorporating a Named Company If your company deals with the general public and you plan
Share Purchase Vs Asset Purchase – Which is Better?
A business transaction may be structured in various ways to transfer the ownership of the business to the buyer. The most common forms are share purchases or asset purchases. You may want to consult with a legal professional to determine the appropriate structure because each structure
How Important is the Letter of Intent to Buy or Sell a Business?
A Letter of Intent (LOI) is a document that is used between two or more parties to set forth the key terms and conditions of a proposed transaction, without forming a legally binding contract. Why do I Need a Letter of Intent? The main purpose of
Force Majeure Clauses in Lease Agreements During Covid-19
Covid-19 Court Updates
This post was last updated on July 28, 2020. The COVID-19 Pandemic forced the closure of courts across all levels in Canada. This blog will focus on the various updates provided by the courts throughout the pandemic, and attempt to map out the various courts’ progression
Don’t Overlook the Impact of Boilerplate Clauses in Your Contract
Standard clauses, also known as “boilerplate” provisions, are general contract provisions that may be found in various agreements. These standard clauses may increase efficiency, reduce time and money spent on drafting, and ensure consistency across agreements. However, sometimes standard clauses are included into contracts without due consideration of their legal effects. It is imperative that
Should I Form a Holding Company For My Business?
According to the Key Small Business Statistics report by industry Canada, small businesses with 1-4 employees have a 60.5% survival rate and 5-19 employees have a 66.4 % survival rate in the first 5 years of operation. For those that continue to operate, part of their
The Dangers of Using Online Legal Templates
With a few simple keystrokes in a Google search, new entrepreneurs and startups can gain access to a wealth of resources, tools and information online regarding new business matters. It’s understandable that many new entrepreneurs and startups will be budget-conscious with the mindset of minimizing startup