Corporate & Commercial

Derivative Actions

By Stuart Cappus Many people operate businesses through corporations. The law considers corporations to be persons separate and apart from the individuals who create, own and operate them. The individuals involved in the ownership and management of a corporation can be broken down into three categories: shareholders, directors and officers. Shareholders own the corporation by […]

Incorporation

You can operate a business as proprietorship/partnership or through a corporation.  A proprietorship is a business operating by one person and partnership is a business operated by 2 or more people. A corporation once created is a completely separate legal person that can own property and in most respects is treated as a separate person. Unless […]

Limitation Periods

A new Limitation Act, was adopted in B.C. on June 1, 2013. Under the new Limitation Act, the basic deadline for most claims is now 2 years. It replaces the former two, six and 10-year limitation periods for most civil claims. The new 2 year basic limitation period is 2 years from discovery so it […]

Business and Corporate Names and Trade-marks

Business Names A business name is a name under which a person conducts their business. The full name of the business will include the proprietor or partners of the business. For example, the business name could be Smith’s Upholstery, which is a proprietorship, the full name of which would be Jane Smith carrying on business […]

Security Agreements

A security agreement is a pledge of assets by a debtor to a creditor who may seize and sell the assets if the debtor does not pay. Security agreements include chattel mortgages and assignments of accounts. The Law Society of B.C. maintains a Security Agreement Procedure and Security Agreement Drafting checklist which list many of […]

Purchase and Sale of Business

When purchasing or selling some property such as boats or mobile homes you must register the transfer to protect your interests. In the purchase or sale of your business it is critical that you understand the representations you are making or getting from the other party and to verify where ever possible those representations. You […]

Leases

The rights and responsibilities of a commercial landlords and tenants are govern by the terms of the lease with few restrictions. The Commercial Tenancy Act sets out some the rules regarding commerical leases. For a list of topics that should be covered in a commercial lease, see Commercial Lease Drafting and Commercial Lease Procedure from […]