Corporate, commercial, and business laws in Ontario are immensely complex, and at times, sorting through the many legalities can be difficult. More than 400,000 civil cases are initiated throughout Canada each year, with businesses involved in many of them. Following the COVID-19 pandemic, many law firms anticipate an increased number of cases. Companies too often find themselves entangled in civil /criminal cases.
Having business law and civil lawyers on your side could save your company from many legal headaches. And should your business find itself in civil or criminal court, proper legal representation could save you considerable sums in settlements, fines, and other penalties. Finding legal professionals specializing in corporate and commercial law in Mississauga, Ontario, is prudent for local businesses.
Businesses operating in Canada need to be aware of local business and corporate legal structures and federal provisions. The ramifications of both levels of law could have a significant impact on your business, its operation, employees, and more.
In many cases, businesses also fall under specific provincial and federal provisions for particular industries and economic sectors. For example, companies in banking, wealth management, investing, and other financial operations face industry-specific regulations and laws.
One of the first decisions many companies must make is setting up a legal structure. In many cases, businesses choose to incorporate a legal structure that can take on debts and other liabilities. Filing to set up a corporation is rather complex, and the to-be company must meet various requirements.
Another option is to set up a partnership. Provincial laws typically guide partnerships. Ultimately, partnerships provide legal clarity among a small group of business owners. A general partnership will normally function as a sole proprietorship, while a limited partnership offers some of the same advantages and drawbacks of a corporation.
Depending on your situation, another business structure may be more appropriate.
Running a business takes a lot of hard work. Often, founders and entrepreneurs must themselves take on considerable risks and obligations. Legal complications and hassles are a significant burden. Yet even seemingly minor legal missteps could result in serious complications and legal issues.
Are you looking for corporate and commercial law professionals in Mississauga, Ontario? Contact Mr. Tarunjeet Gujral at Gujral Law Professional Corporation by calling (647) 957-8077 (new clients) or (905) 232-2023 (existing clients).
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