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The Legalities of Starting a Business

The Legalities of Starting a Business . June 2012. Naming a business is a part of building the foundation and the branding of your business. So you want to get it right. Naming A Business. Sole Proprietor Partnership (General and Unlimited) Incorporation. Legal Business Structures.

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The Legalities of Starting a Business

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  1. The Legalities of Starting a Business June 2012

  2. Naming a business is a part of building the foundation and the branding of your business. So you want to get it right Naming A Business

  3. Sole Proprietor • Partnership (General and Unlimited) • Incorporation Legal Business Structures

  4. Registering a Business • Legal Structures of your Business • Zoning • By-Laws • Business Insurance • Leasing • Business Licence • Intellectual Property Regulatory and Legal Topics

  5. Getting to know your new assignment • Familiarizing yourself with your new environment • Meeting new colleagues Registering a Business

  6. Sole Proprietor Janna Kwame’s Web Design Janna Kwame Radiohead Web Design, by Janna Janna Kwame’s Inc

  7. Partnership Is an agreement between two or more people who combine their resources in a business

  8. Types of Partnerships • General Partnership • Share the management of the business • Each partner is personally liable for all debts and obligations of the business • Take on the outcomes of the actions of the other partner • Limited Partnership • Contribute to the business without being involved in the affairs of the business • As a partner, your liability to creditors or the business is limited to the amount you invested • You can not take part in the management of the firm

  9. A Corporation

  10. A corporation is a legal entity that is separate from it’s owner’s, the shareholder’s. A corporation has rights and files taxes separately. Identified by Limited, Ltd., Corporation, or Corp. or Inc.

  11. Can you legally operate your business from your home, or the commercial or industrial location you are considering? Zoning

  12. By-laws are passed by the Council of a Municipality. By-laws regulations govern such things as noise, smoking garbage collection, signs and many other things. By-Laws

  13. The Toronto Health Department will provide information regulations and standards for food related businesses. . Health Regulations

  14. Leasing agreements for your space

  15. Workplace Safety and Insurance Board (WSIB) • Workplace Safety and Insurance Board • Telephone: 416-344-1000 • Toll free: 1-800-387-0750 • TTY: 1-800-387-0050 • Fax: 416-344-4684 or 1-888-313-7373Head Office • 200 Front Street West • Toronto, Ontario M5V 3J1

  16. Licence • The city of Toronto regulates many types of businesses. • Many businesses need to register their business with the city in order to obtain the Licence • Examples of this are a: • Bake Shop • Second-Hand Shop • Exhibition • Taxi Cab Driver • Transient trader (non-farmer)

  17. Errors and Omissions • Business interruption insurance • Liability • Disability and product or service • Home office insurance or property insurance Business Insurance

  18. RECAP and Discuss Assignment Show these videos Funny video about US by-laws http://www.youtube.com/watch?v=YQscE3Xed64 http://www.youtube.com/watch?v=nFVpaQGltrI&feature=relmfu

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