Keeping costs down during business startup phase is an important consideration, without a doubt. With the ease of online registration, many start-up businesses and entrepreneurs choose to incorporate their business online, thinking that this will suffice and save a lot of time and money.

But will it save time and money? While it may save a few hundred dollars upfront to self-incorporate, we believe there are very good reasons why an entrepreneur or start-up business should use a lawyer to incorporate, and here is our list of the top six reasons why:

Structuring Advice

There are a variety of possible business structures, such as sole-proprietorships, partnerships and different types of corporations. Legal advice on each option when starting up can be invaluable and save costs, liability or other problems down the road.

Name Reservation Advice

What’s in a name? Choosing the right name and knowing the name protection options available may be an important consideration for your business. A lawyer can help you navigate the options and apply for a name reservation through BCOnline.

Complete Corporate Minute Book

When you incorporate online, you do not end up with all required corporate documents. Incorporation kits can help, but they add cost, and hassle. A lawyer can ensure that all corporate records are created, signed and placed properly in a corporate minute book.

Yearly Maintenance of Corporate Records

We’ve seen countless examples where corporate records were not properly maintained which caused problems, including dissolution! A law firm acting as a company’s registered and records office (R&R) will prevent this. Please contact us for current agent and registered and records office rates.

Changes to Corporate Records

New shareholders may be added, directors may change from time to time or a financing or other matter may need to be authorized and approved. A lawyer can ensure that these ongoing corporate needs are met at all times for any changes in the company, participants or required records.

Ongoing Legal Support and Services

Even if you self-incorporate, you will likely need a lawyer at some point to look over a contract or assist in some other way. Using a lawyer to incorporate establishes a trust relationship from the get-go and the lawyer can then be called to act at any time, when needed.

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JarvisLegal provides incorporation of a BC company with multiple classes of shares for which includes: startup advice; incorporation and name reservation filing; completing all documentation for a corporate minute book; providing a “banking package” to open a bank account; and general assistance during the incorporation to answer any questions you may have .

If you are considering incorporating a company in BC, or changing your sole proprietorship or partnership into a company, contact us today to discuss how we can assist you, your business, or your organization and for current fees.

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DISCLAIMER: The articles and information provided by JarvisLegal are general legal guidance or information only and not legal advice of any nature and should not be relied upon in any manner. By reading or sharing the information, there is no lawyer-client or other relationship created. If you wish to receive legal advice or assistance from JarvisLegal, please contact us today to find out how we can assist you, your business, or your organization.