Setting up a business in Canada isn’t always straightforward, and if it is, it could be that you’ve done something wrong or missed an important part of the process!

As such, working with experienced business lawyers in Edmonton can prove extremely fruitful, particularly if you want to stay on the right side of the law and navigate all of the legal complexities of starting a business with ease.

Unsure as to whether you need professional guidance for a business you’re planning to set up? Here are some scenarios in which having a corporate lawyer on your side could be beneficial:

1. If you’re forming or incorporating a business

The most tax-efficient entity structure for your particular business isn’t something the average person would know. A corporate lawyer, on the other hand, will know exactly which one is the best and will advise you of the same.

2. If you’re drafting or reviewing legal documents

From business contracts and employment agreements to financing arrangements and shareholder agreements, all such legal documents must be recorded formally and in accordance with the law, a corporate lawyer can help you with this.

3. If you’re carrying out commercial transactions

For anyone planning an asset purchase, acquisition transaction, or venture funding, for example, support from an experienced business lawyer can be critical.

4. For regulatory compliance and licensing

As a business owner in Canada, you will most likely need to comply with a set of industry-specific rules, including those relating to zoning, labour and employment, and sectoral standards set by bodies such as the Canadian Securities Administrators. With expert guidance, you’re far less likely to slip up and be noncompliant.

5. When handling disputes or litigation

Ideally, disputes can be prevented from happening in the first instance, and a corporate lawyer can help you do this. If a dispute does arise, a lawyer’s experience can prove invaluable.

6. If you’re planning an expansion, restructure, or dissolution

Having the right legal insight can help you better deal with a planned expansion, restructuring, or winding down of operations and avoid any unlawful mishaps.

What are the main responsibilities of a corporate lawyer?

If you engage with a corporate lawyer as a small business owner in Canada, here are some of the things you can expect them to assist you with:

1. Transactional work

If you’re carrying out merger negotiations, helping clients during the sale of assets, or setting up an equity deal, a corporate lawyer can facilitate such transactions and ensure that all commercial activities take place in accordance with the law.

2. Regulatory compliance

Understanding and applying certain Canadian business laws isn’t always easy, but with a small business lawyer to guide you, the process can become a lot less complex and stressful. They can also help you meet industry-specific obligations and manage licensing procedures.

3. Corporate governance

A corporate lawyer will offer counsel to directors and officers regarding their respective duties, develop governance policies, and offer support for board meetings. They will also ensure that there is consistent adherence to relevant industry codes.

4. Risk management and dispute prevention

With specially formulated strategies for avoiding conflict, a corporate lawyer can help business owners avoid litigation, represent them in court or mediation, and keep internal policies correctly updated.

Asset and intellectual property protection

From copyrights and trademarks to securing patents, Edmonton corporate lawyers will make it their business to ensure that your assets are well-protected.

It’s impossible to underestimate the advantages of working with a corporate lawyer as a Canadian businessperson, and while they will help you set your business up so that it’s legally compliant, they will also aid and support you in running it successfully. Whether you’re launching a startup or negotiating a high-value contract, guidance from an experienced corporate lawyer can prove invaluable.