Contemplation of a New Business

new business

By Dawn Wattie  In contemplating a new business endeavour, the potential business owner needs to take into account initially broad considerations such as: (a) who and how are the business accounting and bookkeeping responsibilities going to be handled; (b) who and how is the business going to be structured; (c) where and how will the product(s) and or service(s) be sold; and (d) how will the business make money. In seeking answers to these broad considerations, it is helpful for the potential business owner to consult with accountants, bookkeepers and legal counsel. Consulting with an … [Read more...]

Post-incorporation is more complicated than you might think

post-incorporation

By Dawn Wattie, Surrey Business Lawyer Securing an incorporation certificate and having your signed Incorporation Agreement, Articles and consent(s) to act as directors does not mean the company is in operation. To be fully operational, the directors and shareholders have to: Complete the set up of corporate records and minute book. Set up accounting records. Open a bank account. Use their business number to obtain GST and or PST numbers. Get a business permit and WCB assessment number. Pass incorporation resolutions and first director resolutions to issue … [Read more...]

Incorporating a company

incorporating a company

By Dawn Wattie, Surrey Business Lawyer Incorporation is deceptively easy and only the first step to properly establishing a company. With the advent of online corporate registration systems such as BC Online, the responsibility for properly completing incorporation of a new company falls to the completing party as the BC Corporate Registry no longer provides a substantive review of incorporation documents. As a result, an online incorporation application can be completed and an incorporation certificate issued whether or not the legal requirements of incorporation are met. The online … [Read more...]

The Basic Terms of a License

basic terms of a license

By Dawn Wattie, Surrey Business Lawyer All licenses to use intellectual property (“IP”) should include: Limited grant or scope of the right to use such as: The right to use but not modify Territory or field of use limitations Exclusive or not exclusive to the licensee (Note: most online licenses are non-exclusive and focused on the end user) Conditions of the grant or right - meaning what you can and cannot do such as: Right or prohibition to sublicense to others; Right to use but not modify; Right to create back-up copies, etc Ownership rights Who is … [Read more...]

What is a License?

what is a license

By Dawn Wattie, Surrey Business Lawyer When you purchase a video game, a computer program, a music CD, a DVD movie, a new book, download a song or photograph from the internet or pay for the use of information services from a website, you own the media on which the game or program is replicated but you do not own the game, program, song etc. The game, book, song, etc. are all intellectual property (“IP”) - when you make these purchases you are paying for a limited right to use or license the intellectual property. The IP owner retains all ownership rights but has decided to develop … [Read more...]

Setting Up a Business in British Columbia

setting up a business in british columbia

By Dawn Wattie, Surrey Business Lawyer Structuring a business is the first major decision for an entrepreneur starting a new enterprise. The nature, size and complexity of the venture will often determine your choice of entity structure. Often, an initial consultation with counsel is helpful at this stage. There are four types of business structures available in British Columbia*: Sole Proprietorship General Partnership Limited Liability Partnership Limited Liability Company These four types of business sructures differ in terms of complexity and powers. A sole … [Read more...]