Corporation

A corporation is a legal entity that is separate from its owners, the shareholders. No member of corporation is personally liable for the debts, obligations or acts of the corporation except under special circumstances. This type of business can be incorporated at either the federal or provincial level. Corporation is identified by the terms .

Whatever the term, it must appear with the corporate name on all documents, stationery, and so on, as it appears on the incorporation document. Provincial Corporations can issue shares or securities to the general public or they can choose to issue them privately. Those with 15 or fewer shareholders that do not sell to the public are the most private and least regulated of all corporations. If you incorporate with more than 15 shareholders o distribute shares publicly, contact Alberta Corporate Registries for detailed information. Federal Corporations. Corporations may also be incorporated federally under the Canada Corporations Act.

A firm operating nationally or in several provinces may find this advantageous. A federally incorporated business must still register in each province in which it does business. Information and on-line incorporation documents are available from Industry Canada, Strategies The Business Link. Advantages Disadvantages

Keep in mind that once incorporated or registered, a legal entity such as a corporation, an extra-provincial registration or a non profit society has obligations and responsibilities in order to remain in good standing with the Corporate Registry record. Filing an Annual Return is one requirement that is common to all legal entities, with the exception of Business Names. For more information on your obligations and responsibilities after provincial incorporation or registration,