LAWS 3201 Lecture Notes - Lecture 1: Sole Proprietorship, Fiduciary, Corporate Law
10 Dec 2017
School
Department
Course
Professor
Document Summary
The three basic business forms of business organizations in canada include: sole proprietorship, partnerships, corporations. Business organizational law is: primarily concerned with the legal relationships between owners and managers of a business or organization, ex. Sole proprietorships, partnerships and corporations: they are not a shareholder in the business, business organizations law provides a structure for the legal relationships between the owners and managers, ex. Consumer act of ontario: the interests of stakeholders (those who are not the owners and managers) are addressed under other kinds of law, ex. Simplest form of business organization: register it as a business, protection from third parties (goodwill of his business, comes into existence when the person begins to carry on his business. Legal requirements are minimal: name registration and license, street sellers are examples of those who would need to get a license in order to operate their business.
