SHOULD I INCORPORATE MY BUSINESS?

There's no simple answer to this question. However, the most important reasons to incorporate are to limit personal liability, to achieve tax savings and to provide opportunities to split income (which can also lead to tax savings). If the nature of your business involves the risk of liability to customers or the public, that's likely reason enough to incorporate.

WHAT IS A "SHOTGUN" PROVISION IN A SHAREHOLDER AGREEMENT?  Top

A "shotgun" provision is a buy-sell arrangement that gives each shareholder the right to trigger an exit from co-ownership. It is effective when one party is determined to sever the relationship and strikes a fair price, and it is equitable if both sides have a similar ability to buy out the other.

WHY SHOULD I PAY A LAWYER TO REVIEW A CONTRACT - AFTER ALL, I CAN READ?  Top

Business people can generally tell if a contract accurately sets out all the terms they negotiated. But contracts can often get complicated and difficult to understand. In addition, there can be terms with legal force that a lay person may not understand or appreciate. Sometimes, these terms can cost an unsuspecting client significantly.

IF I DON'T HAVE A POWER OF ATTORNEY FOR PERSONAL CARE, WHAT HAPPENS IF I'M DISABLED IN AN ACCIDENT?  Top

Ontario law stipulates that a person who loses the capacity to make medical treatment decisions for him or herself may have those decisions made by a government official, unless a Power of Attorney for Personal Care appoints someone to do so.