BUS 393 Lecture Notes - Lecture 7: Fiduciary, Estate Planning, Debenture

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 393
• Professor: Colin Hawes

Document Summary

Incorporating could be done through registration, letters patent and articles of incorporation. 2 types of corporations: provincial and federal corporations (whichever one is more reasonable to business) Registration: registers with the government through memorandums which contain the corporation"s constitutions and operational rules in articles. Letters patent: sends a letter to the monarch granting a royal charter; letter contains corporation constitution. Articles of incorporation: file articles of incorporation, pay an appropriate fee then the company is granted a certificate of incorporation. Corporations are a separate entity (the corporate veil), however, sometimes court will make a exception on situation. Shareholders own corporation corporation own assets. Shares: part interest in the corporation which is used to generate funds. Preferred shares: preferred shareholders have claim over common shareholders (in dividends and assets if a company is bankrupt) usually cannot vote, unless dividends are not paid. Common shares: regular shares for which owners only have voting rights.