MGTA01H3 Lecture Notes - Lecture 9: Sole Proprietorship, Privately Held Company, Reliance Power

• School: UTSC
• Department: Management
• Course: MGTA01H3

Document Summary

In canada, three most common forms: sole proprietorship, partnership, corporation there are several other ways to organize:(but they are much less common) The means by which backers who support the idea of a business can provide the capital: I don"t want to be sued! creating a corporation does require: some paperwork (not a lot) some interaction with gov"t (not a lot) some fees (not a lot) Corporation: explanation an artificial being, created by an act of law, to own and operate a business . Something which exists, and is recognized in the courts, because the law says so. The founders ("incorporators") must complete some legal documents. A corporation is created by the legal authority (e. g. prov. of ontario). The documents can be found on-line and downloaded in seconds; articles of. The province issues a certificate of incorporation ; birth certificate of their business. The "certificate" creates the legal entity which is the corporation .