We would like to assist you with your needs relating to business. In starting a business consideration is to be had as to what form the business should take, sole proprietorship, partnership or corporation. The advantages and disadvantages of each are to be weighed in light of your circumstances.
Having started your business, it has relationships in and of itself and with others. Your business will be a customer, a supplier to your customers, and potentially an employer… If incorporated it will have officer(s), director(s) and shareholder(s). If a partnership, it will have partners.
Each capacity and relationship carries with it rights and responsibilities, often imposed by legislation. Where such rights and responsibilities are not imposed by legislation but rather by contract, then simply put each contract is a matter of price and terms. The careful interpretation of the relevant legislation and the careful drafting of relevant contracts are essential to the success of your business.
For example, in situations where there is more than one partner or shareholder we cannot sufficiently emphasize the importance of an agreement between such partners or shareholders. These agreements address the issues of what are each of the parties bringing to the business, what will be the role of each in the ongoing operation of the business, what are each compensated for their respective inputs, in what circumstances and how, given such circumstances, do the parties disassociate themselves (breakup)?
Again we urge to seek appropriate advice and would like to meet with you to discuss your needs.
