Professional corporations are typically used by licensed professionals, such as doctors, lawyers, and accountants, to operate their practices. These corporations offer several advantages, including liability protection, tax benefits, and increased flexibility in managing the business.

SUMMIT LEGAL GROUP can guide you through the process of selecting the appropriate legal structure, preparing, and filing the necessary documentation, and ensuring that all legal requirements are met. This includes obtaining necessary licenses and permits, registering with the appropriate regulatory bodies, and complying with all relevant laws and regulations.

A corporation is required to maintain corporate records to comply with the Alberta Business Corporations Act (ABCA) and other relevant laws and regulations. These records provide a historical record of the corporation’s activities and are important for maintaining transparency, ensuring compliance, and protecting the interests of the corporation and its stakeholders.

Maintaining accurate and complete corporate records is a critical part of corporate governance and is essential in ensuring compliance with the law, protecting the interests of the corporation and its stakeholders, and providing a foundation for long-term success.

In addition to maintaining your corporate records, SUMMIT LEGAL GROUP can provide valuable guidance and advice on corporate governance matters, such as board meetings, director elections, and other important decisions that may affect the corporation. This can help ensure that the corporation is making informed and strategic decisions that align with its overall goals and objectives.

A minute book is a collection of corporate records that a corporation is required to maintain under the Alberta Business Corporations Act (ABCA) and other relevant laws and regulations. The minute book serves as a historical record of the corporation’s activities and decisions and is typically maintained by a corporation’s lawyer or other designated officer.

The minute book is a critical part of corporate governance in Alberta and is essential for ensuring compliance with the law, protecting the interests of the corporation and its stakeholders, and providing a foundation for long-term success. It serves as a historical record of the corporation’s activities and are required to be kept up to date under the Alberta Business Corporations Act with any new documents or changes to existing documents promptly recorded. Failure to maintain accurate and complete corporate records can result in penalties, fines, or legal liability for the corporation and its directors and officers.

 MINUTE BOOK MAINTENANCE

 By maintaining your corporation’s minute books, SUMMIT LEGAL GROUP can help ensure that your corporation remains in compliance with all legal requirements and is well-prepared to address any legal challenges that may arise. This includes keeping track of important deadlines, such as annual shareholder meetings and filing deadlines for regulatory documents.

VIRTUAL MINUTE BOOKS

A virtual minute book is an electronic version of the traditional physical minute book that corporations in Alberta are required to maintain under the Alberta Business Corporations Act (ABCA) and other relevant laws and regulations.

SUMMIT LEGAL GROUP’s virtual minute book service allows clients to store and access important corporate records securely and conveniently from any device with internet access, such as a computer or smartphone. By using our virtual minute book service, clients can ensure compliance with legal and regulatory requirements while also streamlining their record-keeping processes.

MINUTE BOOK REHABILITATION

Rehabilitating a corporation’s minute book ensures the records are accurate, up to date, and well-maintained. This is important for legal compliance, corporate governance, and providing a comprehensive historical record of the corporation’s activities and decision-making processes.

As part of the rehabilitation process, SUMMIT LEGAL GROUP will review the minute book to identify any missing or outdated information and to ensure compliance with legal and regulatory requirements. This includes verifying that all necessary documents are present and that the corporation has fulfilled its obligations in terms of record-keeping and documentation.

SUMMIT LEGAL GROUP will update the contents of the minute book to reflect any changes or amendments made to the corporation’s bylaws, shareholder agreements, or other relevant documents. This may involve incorporating new resolutions, minutes from recent meetings, or any changes in corporate structure or governance.

Electronic filing is a convenient and efficient solution for corporations to fulfill their document submission obligations, eliminating the need for traditional paper filings. This modern approach streamlines processes, alleviates administrative burdens, and enables swift access to information.

Ensuring compliance with filing requirements and deadlines set by the Alberta Corporate Registry is crucial for corporations. As procedures and requirements for electronic filing may undergo updates, it is prudent to refer to official resources and guidelines provided by the Alberta government or seek professional assistance from lawyers or corporate service providers well-versed in the electronic filing process in Alberta.

At SUMMIT LEGAL GROUP, we take charge of submitting and securely storing corporate documents and records electronically through the appropriate regulatory channels. In Alberta, the Alberta Corporate Registry, overseen by the provincial government, assumes responsibility for maintaining corporate information and records.

By engaging our services, corporations can confidently embrace the benefits of electronic filing, knowing that their compliance obligations are met efficiently and accurately. Our expertise ensures a seamless and reliable experience within the electronic filing framework established by the Alberta Corporate Registry.

Corporate governance refers to the practices, structures, and processes that a corporation implements to ensure effective management, decision-making, and compliance with legal and regulatory requirements. It encompasses the ongoing responsibilities and obligations of the corporation, its directors, officers, and shareholders to promote transparency, accountability, and the protection of stakeholders’ interests.

SUMMIT LEGAL GROUP offers ongoing corporate governance and provides guidance on matters including the establishment and maintenance of proper corporate structures, compliance with director and officer responsibilities, and regulatory requirements. Ensuring compliance with the specific requirements and standards of corporate governance in Alberta.

SUMMIT LEGAL GROUP offers invaluable expertise in determining the optimal allocation of ownership among shareholders in a corporation, considering the significant legal and tax implications involved.

Our services encompass the following:

• Thoroughly reviewing and analyzing the corporation’s articles of incorporation and bylaws to ascertain the extent of the corporation’s authority to issue shares, as well as any limitations or restrictions pertaining to share issuance.
• Providing guidance to the corporation on the various types of shares available, including common shares, preferred shares, and non-voting shares, while highlighting the respective advantages and disadvantages associated with each type.
• Assisting the corporation in determining the appropriate number of shares to be issued and establishing the suitable price or value assigned to each share.
• Aiding in the preparation and submission of any essential regulatory documents, such as share purchase agreements, subscription agreements, and share certificates.

By working with our experienced lawyers to structure the allocation of shares, corporations can ensure compliance with legal requirements and achieve tax efficiency. This meticulous approach establishes a robust foundation for long-term success.

When buying or selling a business or its assets, ownership is transferred from one party to another. In the case of a business sale, the new owner assumes all the rights and responsibilities associated with the business, including both tangible and intangible assets. Tangible assets encompass physical items like equipment, inventory, and real estate, while intangible assets include intellectual property, goodwill, and customer relationships.

To ensure legal compliance and protect your interests, it is essential to enlist the expertise of an experienced business lawyer. SUMMIT LEGAL GROUP offers comprehensive support throughout the process. Our services include drafting and reviewing agreements to establish clear and enforceable terms that safeguard your interests. We conduct thorough due diligence, address any regulatory or compliance concerns, and facilitate the seamless transfer of assets and ownership.

When you choose SUMMIT LEGAL GROUP for your business or asset transaction, you can trust that we will structure and execute the deal with utmost legal compliance and efficiency. Our goal is to minimize risks and maximize benefits for all parties involved.

Corporate finance services encompass legal support and guidance concerning financial transactions and matters. These services are designed to aid businesses in addressing their financial requirements, developing strategies, and adhering to applicable laws and regulations.

At SUMMIT LEGAL GROUP, we specialize in providing comprehensive assistance to corporations in navigating the intricacies of debt and equity financing. Our expertise includes drafting and reviewing loan agreements, securities offerings, and other pertinent documentation. We ensure that your corporation receives sound legal counsel and assistance throughout the financing process, safeguarding your interests and promoting compliance.

With SUMMIT LEGAL GROUP by your side, you can confidently tackle the complexities of corporate finance, leveraging our expertise to make informed decisions and achieve your financial objectives.

Corporate contracts and agreements are essential legal instruments that corporations utilize to regulate business relationships, transactions, and the associated rights and obligations. These documents serve the crucial purpose of establishing clarity, defining terms, and safeguarding the interests of all parties involved.

It’s important for corporations to ensure that these contracts and agreements are carefully drafted, reviewed, and executed to accurately reflect the intentions and protect the rights of the parties involved. At SUMMIT LEGAL GROUP, we specialize in the comprehensive provision of drafting, reviewing, and negotiating various corporate contracts. With our assistance, corporations can rely on meticulous contract drafting, thorough review processes, and effective negotiation strategies.

SHAREHOLDER AGREEMENTS outline the rights, responsibilities, and relationships among the shareholders of a corporation. They address matters such as voting rights, share transfers, dividend policies, dispute resolution mechanisms, and procedures for decision-making.

PARTNERSHIP AGREEMENTS establish the terms and conditions of the partnership. These agreements typically cover profit sharing, capital contributions, decision-making authority, dispute resolution, and the responsibilities of each partner.

JOINT VENTURE AGREEMENTS are entered into when two or more entities collaborate on a specific project or business venture. These agreements outline the rights and responsibilities of each party, profit sharing arrangements, decision-making processes, and the allocation of resources and risks.

EMPLOYMENT CONTRACTS govern the relationship between a corporation and its employees. They cover terms such as job responsibilities, compensation, benefits, working hours, termination procedures, and confidentiality obligations.

SERVICE AGREEMENTS are contracts between a corporation and a service provider or contractor. They outline the scope of services, payment terms, deliverables, intellectual property rights, confidentiality obligations, and other relevant terms and conditions.

SALES AND PURCHASE AGREEMENTS govern the sale or purchase of goods or services between a corporation and another party. These contracts outline the terms of the transaction, including the price, delivery terms, warranties, and conditions of sale.

LICENSING AGREEMENTS grant permission for the use of intellectual property rights, such as trademarks, patents, or copyrights, to another party. These agreements define the scope of the license, royalty payments, restrictions, and any obligations of the licensee.

CONFIDENTIALITY AGREEMENTS, also known as non-disclosure agreements (NDAs), protect sensitive information shared between parties. These agreements establish the obligations of the receiving party to maintain the confidentiality of the disclosed information and prevent its unauthorized use or disclosure.

FINANCING AGREEMENTS, such as loan agreements or credit facility agreements, document the terms and conditions of financial arrangements between a corporation and a lender. They outline the loan amount, interest rates, repayment terms, and any collateral or security provided by the corporation.