Setting the foundation for security and success
Starting a new business can be equal parts exciting and daunting. An entrepreneur’s adventure is defined by opportunities, but held back by risks. Expert legal advice, like we’ve been providing to entrepreneurs across the GTA for 50 years, sets the foundation for security and success. Not only do we understand business law, but we understand business – after all, we are entrepreneurs as well.
For small businesses, we can advise on everything from setting up the enterprise, to financing, to reviewing leases. For corporations, we help ensure the best financial structure is in place, and take care of any future amendments – from amalgamations and share transfers to leadership changes and dissolutions.
Structuring your business
For new businesses, the first challenge is often determining the right ownership structure. Our LLDG team can provide direction and help you decide whether to step forward as a sole proprietorship, partnership, corporation or even cooperative.
Whether you are forming or purchasing a business, it’s important to limit ownership risks. We will advise on structuring options, which can include incorporation or a limited liability partnership, for example. If there are several owners, we’ll develop an operating agreement to ensure all rights and responsibilities are transparent so a new business can thrive from the outset. Our team is happy to meet with you or your accountants to employ the right measures, including an escape clause that can limit risk should the business discontinue.
Our business law services for entrepreneurs
Our team has broad experience across a range of industries and can support all legal and operational issues that affect your business. Specifically, we will help you to:
- Form/incorporate a business
- Establish the right business ownership
- Registering a trade name
- Create shareholder or partnership agreements
- Develop financing contracts and reviews
- Customize all new or existing contracts
- Dissolve or dissolution of your business
- Complete real estate matters
- Implement the right insurance plans
Time and again, we see the hunt for financing as a main challenge for new businesses. This extends from investments at startup to raising working capital as a business grows.
Our business law team will carefully review your business plan, finances and other relevant information. We will scrutinize the structure of any loan, venture capital proposal, or family financing arrangement to protect your interests.
And, if necessary, we will creatively explore the possibilities of securing incremental financing from various sources. Simple measures such as equipment and commercial leases and clauses in promissory notes can lead to working capital where none may be readily apparent.
LLDG is here to help you establish, grow and profit from your efforts and enterprise.