As you join forces with others to create a successful business, it’s essential that you have air-tight contracts and agreements in place. There are several ways to protect yourself—and your business—so that you and your partners can enjoy continued success for the duration of your business agreement. In most cases, however, it’s essential that you have a Montréal business lawyer draft the appropriate paperwork and file it with the proper authorities if and when necessary.
There are three distinct types of business partnerships: general, limited and undeclared.
A general partnership holds each partner liable for the debts and obligations incurred during the operation of the business. Creditors first have to seek reimbursement from the business before they can seek it from the partners.
A limited partnership has at least one general partner and at least one limited partner; the general partner, who manages the affairs of the partnership, is liable for all of the debts and obligations incurred during the business’ operation, while the limited partner is liable only up to the amount of capital that he or she contributed.
An undeclared partnership is similar to a general partnership, except that each partner is directly liable for the debts and obligations of the business.
As a Montréal business lawyer with extensive experience in partnerships and the contractual obligations you’ll incur as a business owner, I will help you draft the appropriate paperwork to establish a partnership.
If your business will have shareholders—people with a vested interest in your profits—you’ll need a shareholder agreement. A good shareholder agreement limits and restricts the powers of directors to manage the business and its affairs; that gives shareholders flexibility and business owners stability.
While it would be nice if the shareholders and partners in your firm agreed on everything, that’s not always the case. Because I have several years of experience handling business-related disputes, I can help you solve issues using the path of least resistance; if there is no need to litigate, I’ll give you our professional guidance. If there is, I can represent you and your interests by developing a clear, actionable strategy.
Directors and officers of a business have specific duties; they must act reasonably in the organization’s best interest, must be loyal to the interests of the organization, and act within all applicable rules and laws. In order for directors and officers to perform their duties properly, they must first be aware of what they need to do—and ignorance is not a defence.
There are several things that directors and officers are liable for, and as accomplished Montréal business lawyers, I can help ensure that everyone within your organization is on the same page.
Should it become necessary to wind-up, or bring an end to, your business or any of its operations, you’ll need a talented business lawyer to ensure that all of the appropriate steps are taken. If errors are made during wind-up or dissolution of your company, they can be extremely costly; that’s why you need a Montréal business lawyer you can trust.
In business, it’s always necessary to get commitments from suppliers in writing. The same goes for employees and clients. In order to protect your best interests and ensure that you’re compliant with all local and federal regulations, having a business lawyer make sure your agreements are intact is the best route to take.
During the course of your business operations, you may encounter the need for litigation. While most of us don’t like to think that way, it’s the reality of doing business. If you need representation regarding dismissal or disputes with uncompromising suppliers or clients, you need a Montréal business lawyer with the in-depth knowledge that only comes with years of extensive training and experience.
It’s always a good idea to have a lawyer on your team, especially when you want to have a winning strategy. Many people wait until it’s too late – but you don’t have to. Call me at (514) 381-3064, EXT 204, and we can talk about how I can help you.