Business FAQs


corporate

 

Why should I incorporate a business?

Incorporation is the business equivalent of creating another person. Incorporation creates a body that is responsible for any legal obligations that a business might generate such as taxes. It also protects the business owner or owners from liability for things like the debts of the business or legal actions against the business by others.

There are a number of different forms of incorporation. You should consult a lawyer or an accountant to determine which form is best for your business.

 

How do I register a business name?

Registering a business name in Alberta requires completion of one of two forms, either:

  • Declaration of Trade Name, or
  • Declaration of Partnership.

Completing these forms requires the following information:

  • full legal name and address for the owner or owners of the business,
  • type of products or services the business will offer,
  • location of the business,
  • selected business name, and
  • start date of the business. (Start date can be in the past or up to six months in the future.)

 

Why should I register a business name?

Some organisations you will deal with, such as a bank, will require you to register the business.

 

How do I name an incorporated business?

On the assumption you intend to build a successful business, you will want to assure your business is the only one using the name you chose. Why? Because you will be building a reputation for your business and customers will identify your business by its name.

Each year businesses, large and small, spend billions of dollars protecting their name and the reputation behind that name. Part of that protection is legal protection through mechanisms such as registered trademarks, copyright, and so on.

To name an incorporated business you must present the following:

  • the articles of incorporation for the business,
  • share structure of the corporation,
  • name and address of directors,
  • address of company,
  • an Alberta Name Search report within 90 days of the date of the submission of the articles of incorporation.  (A name search is conducted on the NUANS data base offered by Industry Canada.  Name searches can be carried out in our office of for additional information on NUANS visit the Industry Canada web site at: http://www.nuans.com/ )