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Business Law
Legal services relating to the establishment and operation of businesses involve a wide range of legal considerations, depending upon the needs of the client. From the establishment of a business (whether as a sole proprietorship, partnership, corporation or joint venture) to the purchase or sale of a business (or assets or real estate), there are numerous legal issues to be resolved such that the client’s needs and desires are met.
For entrepreneurs starting up a business organization, the first consideration will be what legal form the business will take. If it is a business owned and operated by an individual client, it may be the case that a sole proprietorship will suffice. However, the client will need to know, for example, that a sole proprietorship cannot provide the limited liability protection that would be available from incorporating a company.
If there is more than one person that will own and/or operate the business, then a sole proprietorship will not be appropriate and the client(s) will need to consider a different legal entity to conduct the business, such as a corporation, partnership or joint venture. Each legal form has its own particular set of attributes that the client needs to be aware of. If the business will be conducting operations throughout Canada or elsewhere in the world, the client will need to be advised of any and all legal prerequisites in operating in such jurisdictions. We work with lawyers, accountants and other business advisers throughout the world on behalf of our clients.
In addition to the establishment of the business entity, we advise clients on the appropriate agreements that will govern the relationship of the individuals involved in the business. For example, the formation of a corporation with two or more owners would typically involve a shareholders’ agreement which will, among other things, set forth the rules governing the operation of the business, the roles each of the parties will play, the financial obligations of the parties to fund the operations, the rights of the parties to encumber or otherwise dispose of their ownership interests in the business, and many other matters.
In addition to advising clients on the structure and organization of the business, we also advise clients on all aspects of business contracts, including those related to employees (such as employment agreements and confidentiality agreements), suppliers (such as supply contracts, distribution agreements and licensing agreements), lenders and creditors of the business (such as loan agreements, general security agreements and other secured transaction agreements), to name just a few.
As well, we assist clients in the protection of their intellectual property, the review of agreements relating to the lease of real property and equipment, the preparation of letters of intent and drafting agreements of purchase and sale of assets and/or real estate.
Our goal is to see issues for clients and avoid problems before they occur. The ultimate aim is to provide clarity and vision to the business client in order for the business to thrive and to avoid disruptions.
David Himelfarb Barrister & Solicitor
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