Call Me (902) 422-4037
1801 Hollis Street, Suite 1800, Halifax, N.S.
How to Purchase a Business? Assets or Shares The Difference between purchasing Assets and Shares: When referring to ‘buying a business’ (buying an existing business that is, i.e., an ongoing or operating business from someone), entrepreneurs are typically referring to one of two scenarios (whether they realize it or not). The first is to purchase the
How a Shareholders Agreement can keep an Infant small business alive – By Garnet Brooks, Halifax Business Lawyer Most Entrepreneurs have heard their lawyer and advisers discussing how shareholders agreements are useful for managing contingencies over the long term in situations where there is an incorporated business with more than one shareholder. However, these important agreements can
By: Garnet E. Brooks, Halifax Business Lawyer, Halifax Corporate Lawyer This article is part of a series of short, informative articles designed to assist entrepreneurs and business people to become aware of how a business lawyer can help them understand business legal issues. Should I incorporate or not? One of the first decisions an entrepreneur
– By Garnet Brooks, Business Lawyer It’s quite common, unfortunately, for new small business entrepreneurs to make the decision not to get a shareholders agreement when starting out. Common reasons given include that they want to make sure things go well, and make some money before investing in a shareholders’ agreement, they are in business
Legal Mistakes Entrepreneurs Make – Get it in Writing! “This case is yet another example of the all too frequent situation where parties in on-going commercial relationships fail to set out clearly the incidents of that relationship once it became apparent that the commercial relationship would become long-term rather than short-term in nature.” The above
The Business Corporation: Limited liability and the corporate entity by: Garnet Brooks What is a Corporation? Entrepreneurship involves risk. One of the most common ways entrepreneurs limit their risk is through the operation of a corporate entity, known as a corporation, or company. A corporation or company is a creation of law. The federal legislation
Aboriginal Entrepreneur Law – The Limited Partnership (“LP”) by: Garnet Brooks (As featured in the Mi’kmaw & Maliseet Newspaper – Atlantic Canada) With an increase in Aboriginal entrepreneurship in Canada, there is an increasing desire for entrepreneurs at all stages to become more informed on the basic legal concepts which concern them and their respective
Aboriginal Entrepreneur Law – Business Partnerships By Garnet Brooks As Aboriginal entrepreneurship is on the rise in Canada, there is an increasing need for budding, as well as established entrepreneurs to become more informed on the basic legal concepts which concern them and their respective businesses. There can be serious legal consequences associated with being
Aboriginal Business – Sole Proprietorship (Aboriginal Considerations) With Aboriginal entrepreneurship on the rise, it is increasingly necessary to have a basic understanding of the legal issues that entrepreneurs, their businesses, and business partners face, in particular when issues unique to Indian status in Canada are thrown into the mix. There are various ways an entrepreneur can structure
Limited Liability Partnerships (“LLP”) A limited liability partnership (“LLP”) is very similar to a general partnership. The biggest difference is that “innocent” partners have some protection from the unknown negligence or misconduct of other partners. Limited liability partnerships are governed by the Partnership Act, in Nova Scotia. As in a general partnership, all partners in
The Limited Partnership (“LP”) Introduction: Previous articles discussed characteristics of sole proprietorship and general partnership. This article will discuss the limited partnership business structure. Limited partnerships can carry on any business that a general partnership may, and offers limited liability to some partners, known as the “limited partners”. For this reason, this business structure is
Partnerships – The General Partnership Entrepreneurs often get involved in business projects together, or in ‘partnership’ with one or more other entrepreneurs or investors. There are various types of partnership structures. Three common partnership structures include general partnerships, limited partnerships, and limited liability partnerships (LLP). These blog posts will provide a brief overview of the general characteristics of
Section 85 Rollover: What is it? In the Sole Proprietorship article, a Section 85 Rollover (s. 85 rollover) was mentioned. In brief, this refers to section 85 of the Income Tax Act (Canada) , through which you may be able to transfer the unincorporated business to an incorporated company on a tax deferred basis. To add
The Sole Proprietorship Sole Proprietorships in Nova Scotia by Garnet Brooks, Business lawyer One of the decisions a new small business entrepreneur faces is how to structure their business. This series will be a brief look at some of the most common ways new small businesses are structured. A sole proprietorship is a business that
Copyright 2019 - Garnet Brooks . All rights reserved