Incorporation

The incorporation of a business company allows the creation of an entity distinct and independent from the founder(s) in order to become a legal person (legal entity). In Canada, a corporation can be incorporated under federal or provincial law. By becoming an independent legal person, a company can then hold its own assets and liabilities, which will not be linked to those of its owners (the shareholders). By accumulating assets, the company develops its own financing capacities, which enables it to obtain lines of credit, loans, grants, tax credits, etc. In addition, specific tax rates apply for corporations, regardless of those applicable to individuals. Finally, shareholders also benefit from a risk limit related to the company's activities since they are not, in principle, held liable for the company's debts (unless the shareholder engages a personal guarantee or other exception).

Part 1: Presentation of the Incorporation

To be incorporated is to make the choice to create a company to exploit your idea. The company then becomes a legal structure in its own right, distinct from the founder(s).

 

In this video we answer the following questions:

 

  • What is the stage of development of your company?
  • Are you self-employed and wondering if you should incorporate?

 

Enjoy the video!

Read the intro ❯
Watch the video ❯

Part 2: FREQUENTLY ASKED QUESTIONS

Incorporation may seem like a complex step. However, you will see that it is not so complicated and it is also a good way to formalize your activities!

 

In this video we answer the following questions:

  1. What is the purpose of incorporation: security for the entrepreneurs who are its shareholders, tax benefits, and the ability to finance ?
  2. How to choose your name, the famous Inc. (personalized, numerical, assumed name) ?
  3. The differences between federal and provincial incorporation ?
  4. What are the roles within a business company ?
  5. What are the next steps ?

 

Enjoy the video!

Read the intro ❯
Watch the video ❯

Part 3: LEX START PROCESS

Lex Start offers an affordable, online, fixed-price legal solution for all entrepreneurs. We automate the creation of legal documents. The law firm we work with, Dunton Rainville, is in charge of validating them to ensure their quality.

 

It is important to us that you understand our process, which is simple, fast, and in 3 steps:

  • Step 1: Complete the online form
  • Step 2: Your personalized documents are created
  • Step 3: Your documents are validated by a lawyer

 

Enjoy the video!

Read the intro ❯
Watch the video ❯
See the kit

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