MCS 3040 Chapter Notes - Chapter 15: Sole Proprietorship, Consumer Protection, Debenture

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joe Radocchia

Document Summary

Aron made his sole proprietorship into a corp. Made himself and 6 other family members shareholders. He was the only one with actual control, Company shut down and couldn"t pay creditors, said aron was personally liable. Stakeholders: one who has an interest in a corporation. Must submit: articles of incorporation, notice of registered office, notice of directors, nuans report, filing fee, payable to receiver general for canada. Incorporator: person who sets incorporation process in motion. Must make meeting to: make bylaws. 2: adopt forms of share certificates and corporate records, authorize the issues of shares and other securities, appoint officers, appoint an auditor to hold office until the first annual meeting, make banking arrangements, transact any other business. Equity financing: shares, securities: shares and bonds issued by a corp, conversion right: right to convert one type of security into another. Securities have 3 basic requirements: registration.