BUSINESS LAW

Advancing corporate & commercial legal matters for dynamic business enterprises pursuing financial advancement and success.

INCORPORATION  |  PARTNERSHIP  |  JOINT VENTURE  |  CONTRACTS  |  TRANSACTIONS  |  TAX PLANNING

Contact Neufeld Legal PC at 403-400-4092 or Chris@NeufeldLegal.com

STARTING A NEW BUSINESS

Starting a business in today's highly competitive and costly commercial environment, is not something that should be done without sufficient planning and professional support. Being successful with a new business has become increasingly difficult because of the forces working against success, and for that very reason, it is essential that you enter such commercial enterprises with the tools and support that have the potential to facilitate your success.

As a lawyer who's professional and commercial practice have been heavily involved with the launching of many businesses, I understand the importance of experienced legal and commercial counsel. This means asking the tough questions and properly scrutinizing the answers, such that the real challenges associated with the intended business can be tackled (even if that means stepping away or completing overhauling the initial business concept). For without such tough analysis and commitment to addressing common commercial and legal issues associated with a new business launch, you will be incapable of maximizing the return possible from commencing this new enterprise.

INCORPORATING A NEW COMPANY

How you structure your business plays a critical role in its prosperity and success. Although the terms corporation, sole proprietorship, partnership and limited liability partnership may appear to be mere words, to a business lawyer they are the cornerstones for launching a successful new business enterprise. Each of these legal constructs provides its own set of tools and challenges through which business owners will ultimately determine the future of their labours. As such selecting the appropriate legal form of business enterprise is important, yet it is merely the starting line from which a long and arduous race is to be commenced.

To succeed in this highly competitive business world, the legal shell must be given substance. Merely incorporating one's business will not provide a wealth of legal protections (an all too common misconception that has been flogged to the public), given the harsh reality that poorly conceived business actions have the potential to create far more serious problems in the long run (due in part to the mistaken belief that the business has now attained some mythical protection). If you are committed to the success of your business, the advice of a knowledgeable legal professional is essential to giving your business legal substance, such that it has the ability to achieve the results that you intend to realize.

PARTNERSHIP / JOINT VENTURE

To advance and develop one's business aspirations, it becomes necessary to engage other and collaborate so as to achieve those objective goals. So as to achieve such an objective it is important to structure your business relationship so as to realize optimal efficiency, while limiting your exposure to risk and untenable disputes. This can be achieved through the establishment of the appropriate legal structure to advance your business aspiration, through such legal structures as a partnership or a joint venture.

PARTNERSHIP: An unincorporated business organization wherein multiple persons or parties engage in a specific business together, in pursuit of a common goal, and where the the partners share proportionally in the profits and losses / debts and liabilities. Partnerships are created by law, though they greatly benefit from the creation of a formal written agreement that spells out the rights and obligations of the partners.

JOINT VENTURE: An association of two or more persons or businesses engaged in a single business enterprise with a clearly defined profit objective, without forming a partnership or corporation. The written contract sets out the parameters of the venture, controlling how the pursuit is to be undertaken and achieved.

FRANCHISE BUSINESSES

Franchises are a very particular form of business that pose a unique set of challenges to those looking to or currently operating a franchise business. Yes, there is an 'established' business system in place, however such a system creates its own responsibilities and financial obligations, which need to be properly considered in your decision-making process. Only by understanding your obligations and integrating them into your ongoing business plan can you seek to realize the full benefits of a franchise.

The experience and commitment of your lawyer to the successful launch of your business cannot be underestimated. It is essential that he take a genuine interest in facilitating your success. For such commitment to your new venture realizing its full potential, contact business lawyer Christopher Neufeld at Chris@NeufeldLegal.com or 403-400-4092 / 905-616-8864.

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