Friday, June 23, 2017

Every Business Needs a Corporate Law Lawyer to Help it Grow


A corporate law lawyer is quite simply an expert in corporate law. They are highly specialized particularly in the laws governing shareholders, financial reporting, and tax codes.
Corporate law covers a vast range of practice areas, and lawyers are specialised in a particular type of work. Corporate law attorneys typically practice in one or two areas and deal with a wide range of business related issues affecting a corporation, which can include the following:
  • Business structuring and planning
  • Articles of incorporation
  • Buy-sell agreements
  • Purchase or leasing of equipment or property
  • Labor and employment
  • Mergers and acquisitions
  • Finance and banking
  • Real estate
  • Due diligence
  • Contracts and contract disputes
  • Operation and compliance
  • Reformation
  • Dissolution
  • Bankruptcy
  • Securities arbitration
  • Securities offerings
  • Tax planning
  • Intellectual property
  • Professional malpractice
There are basically two types of corporate lawyers: business transactional lawyers and business litigation lawyers. Each play very different roles and responsibilities in a wide variety of business transactions to help clients reach their business goals.
Business transactional attorneys provide legal advice and assistance in structuring complex business transactions for businesses of all sizes, from start-ups to multi-million dollar corporations. They spend most of their everyday corporate practice in research, drafting, documenting, negotiating, and advising clients in managing corporate activities, such as in the following:
  • Forming corporations, limited liability companies, and partnerships
  • Purchasing and/or merging of companies
  • Preparing employment agreements, specifically for executives, sales staff and independent contractors with high compensation that includes specialized bonus schemes and commission arrangements, and which require appropriate non-compete agreements and other restrictive covenants
  • Structuring and implementing executive compensation arrangements and benefits, including stock purchase plans, stock appreciation rights and phantom stock arrangements, nonqualified deferred compensation arrangements, supplemental executive retirement plans, stay bonus retention plans and executive severance arrangements
  • Managing borrowing and lending transactions with banks and private lenders
  • Arranging independent contractor and agency relationships
  • Entering joint ventures and working with strategic partners
  • Crafting agreements for sales of goods and services, and supply arrangements
  • Developing marketing agreements, resale or distribution agreements, or franchising deal
  • Licensing, selling, acquiring, and protecting copyright, trademark, and other intellectual property assets
Their main goal is to ensure that all business transactions comply with relevant regulations and laws in order to protect the business from unexpected and unreasonable exposure to liability and risk.

Corporate litigation lawyers handle different types of business issues that require any type of legal remedy. They provide legal advice and representation in a wide variety of commercial disputes, such as:
  • Partnership disputes
  • Breach of fiduciary duty claims
  • Shareholder derivative actions and disputes
  • Disputes over non-compete agreements and trade secrets disclosures
  • Employment disputes
  • Fraud
  • Misrepresentation and concealment claims
  • Business theft claims
  • Business defamation cases
  • Claims arising from intentional interference with contracts
  • Intellectual property disputes
  • Patent and trademark cases
  • Breach of warranty claims
  • Product liability and manufacturing claims
  • Professional negligence or malpractice claims
If a corporation is facing potential dispute, an attorney that specializes in corporate litigation can provide valuable guidance at every step of the dispute process, from initiating court action, exploring alternatives to litigation and in presenting the case to the court. His goal is to assist entrepreneurs and companies get the best possible outcome in any dispute, whether it is to negotiate a fair settlement or make arguments to the judge or jury on behalf of his client.

Every business owner needs the expertise and experience of a corporate law lawyer to help their company grow. With the right attorney to provide proper counsel and representation, your business can avoid legal issues that may potentially hold it back and, at the same time, help it make use of various opportunities that will increase its potential and send it to new growth levels.

Tuesday, June 20, 2017

How a Toronto Business Lawyer Can Bring Real Value to Your Business


The services of a Toronto business lawyer can be critical to a small business. Early on there may be certain matters that you can handle on your own as business owner such as writing a business plan and applying for any licenses and permits the business requires, but definitely you cannot do certain activities, particularly those that involve very complex issues and require a thorough understanding and evaluation of several aspects of business law.
Here are some potential areas that a business attorney can provide valuable assistance in:
Negotiations
Lawyers probably negotiate more than they do anything else. Those who negotiate effectively can not only solve their client’s problems on different types of business transactions, but can help prevent potential problems that can lead to disputes later down the road.
Negotiations are the heart of every business relationship. You negotiate with clients or customers, with  vendors and suppliers, with the government, maybe even with the court, and in every negotiation there is a host of legal matters that only a lawyer’s legal training and professional expertise can sort out.
  • Negotiating your office space - It’s a good idea to hire a business lawyer with experience in real estate to help you negotiate terms in your lease, or at least review it. Lease contracts are full of legal jargon and overlapping clauses, and there is no substitute for legal analysis that can alert you of potential hidden problems, specifically in certain key provisions governing sharing of common space utilities with other lessees, lease renewal terms, automatic increases in rent, and lease termination.

  • Mergers and acquisitions -  As businesses grow, opportunities for joining forces with other businesses or even taking over another business may become part of the plan. Your attorney can be valuable in helping to formalize these complex deals. He can help you negotiate the appropriate financing and provide advice concerning the drafting, negotiation, and performance of contracts for the sale of portions of your business.
Partnership Agreements
When you are partnering up with other people to run the business, you will need to create a well-drafted partnership agreement to establish the terms of the partnership. This legal document will, detail the rights and obligations each partner has to the business, set out provisions on how the business should be run on a daily basis and in the event of a business crisis, such as the death of a partner or dissolution of the partnership. It’s highly recommended to consult with an attorney to formulate a partnership agreement to help you navigate the legal aspects and ensure that the contract is legally enforceable.
Business Tax Planning
A lack of attention to business tax planning can cut into the profitability and long-term viability of your business. A business attorney with special focus in tax laws can provide proper advice on tax advantages that are applicable for all your business activities that can result in a great deal of potential savings. Business tax lawyers can help you with creating the business set-up, contract labor or employment relationships, and other matters that could affect the business’ after-tax income. They also stay up to date with changing tax laws that can have potential tax implications to your business.

A Toronto business lawyer can truly provide real value to any small or midsized business. He is not just a legal advisor, but an effective business partner who can play an integral role in the company’s business strategy and in helping to identify potential risks to the business that can help prevent conflicts and claims later on.

Wednesday, June 7, 2017

Ways That a Divorce Lawyer in Toronto Can Represent You

F. Timothy Deeth
Many couples who are getting separated or are getting a divorce choose to hire a divorce lawyer in Toronto to handle the legal ins and outs of the whole process. Some will have a personal attorney take on their case full-time, but others hire a lawyer for less than full services.

Divorces can cost a tremendous amount of money, particularly if your case needs to go to court. That is why for some people it’s usually a good idea to help cut lawyer's costs down by doing a bunch of the legal work themselves, and just work in close coordination with an attorney in any part of the divorce process.

Ira Marcovitch
It is not required by law for people who are getting a divorce to hire a divorce attorney on a full-time basis, or even at all. You can absolutely choose the type of legal representation you need.

Here are several ways that a lawyer can represent you in a divorce.

Full-scope representation

For full-scope representation services, you retain an attorney or a law firm for the entire duration of your divorce case. An attorney retained on a full scope basis will handle all matters in the lawsuit from start to finish on behalf of the client, which will include responsibilities such as:


  • Preparing necessary divorce forms 
  • Dealing directly with your spouse or your spouse’s lawyer
  • Keep track of all deadlines, filings, motions, 
  • Fact finding for legal research, discovery
  • Handle all communications between parties involved
  • Represent you in all meetings, hearings, settlement negotiations, and at trial
Jennifer K. Howard
Though there is an attorney retained to handle all matters in it's entirety, it doesn’t mean that you just hand your case over and stay in the sidelines. You are encouraged to maintain a visible presence, stay informed at all times, be proactive in identifying and preventing potential problems and make major decisions with your lawyer’s help.

Limited-scope representation

If you can’t afford to retain a full-scope attorney to fully and completely represent your interests in a divorce case, you can opt for Limited Scope Representation (LSR) or sometimes referred to as “unbundled services.” It’s an efficient and affordable way for you to obtain legal services only for one or more portions of your case.

John P. Schuman
You may hire a limited-scope attorney to:
  • Prepare forms or other documents
  • Draft settlement agreements
  • Negotiate a settlement in your behalf
  • Discovery or legal research
  • Representation for only one court hearing
  • Representation at trial
  • Representation for only one part of the case, for example just the  portion that deals with child support issues or just to handle all matters involving the division of property
Mark Seymour
Consulting lawyers

Some people going through a divorce will hire attorneys just for ongoing consultation and pay on an hourly basis. They meet with the lawyer to obtain general advice and information relating to what their legal rights are and how to handle specific issues in their case. In this type of service, the lawyer will simply discuss certain issues that you bring to the table, and will not appear in court or act as your official counsel of record.

Divorce mediators

In the process of negotiating a settlement, couples sometimes can’t agree on certain issues. But instead of a lawyer, they choose to hire a neutral third party to help them discuss and resolve the issues. However, mediators do not give legal advice or provide representation so some couples still hire their own consulting attorneys to provide legal advice so that they can go into mediation with the proper legal knowledge.

Rachel G.G Healey
Self-representation

If you and your spouse have very few assets, no children, are earning the same income and relatively have no issues to deal with, you can divorce without getting a lawyer. Self-represented parties have to write their own divorce settlement agreement and then submit it to a court for approval. Family law courts, however, do not encourage couples to divorce without legal assistance. They always recommend that they should get some sort of representation so they can protect their family’s rights as much as possible.

Rosemary Gallo
It is important to take your financial situation into consideration when selecting a divorce lawyer in Toronto. Legal costs, the bulk of which will be your lawyer’s fees, can amount to a high price. The more complex your case becomes, the more you need a lawyer to represent you. Most attorneys offer free initial consultation, so don’t be afraid to ask what amount of representation is required so you can make the best decision.

Tuesday, June 6, 2017

How Tax Planning Lawyers Can Assist Individuals and Businesses

Seeking professional tax advice before making major decisions on significant transactions is always money well spent, particularly if those decisions involve exclusive legal issues that require a higher level of expertise. Tax planning lawyers are highly specialized in tax law and can provide expert tax representation and planning advice that can help individuals and businesses save thousands of dollars in the filing of their taxes.

William (Bill) J. Smith
 Some accountants specialize in tax planning too, and can also offer some advice to help you deal with your tax planning issues or questions. Many general practitioner lawyers may also have some knowledge of tax legalities, but often their expertise is very limited in this particular legal area. Attorneys who are highly specialized tax planners, on the other hand, have specific knowledge and training on taxation law but they also have expertise on other complicated legal areas that overlap with Canada's tax and commercial legal systems, such as wills and estates law, corporate and commercial law, family law, property law, trust law, insurance law, criminal law, litigation and other areas.

Eric C. Taves
Tax planning attorneys understand the detailed intricacies that revolve around tax planning for both personal income and large enterprises. Hence, it is very easy for them to engage in the interpretation of specific laws and apply its plain meaning to the legal matter at hand. Their legal expertise is what differs them from other tax experts, particularly when tax matters deal with a contentious issue and specialized legal knowledge is required to bridge the gap.

Sabina Mexis
It is advisable to find a tax planning lawyer to assist you with the following tax matters:

Estate planning and administration

If you have a large estate, you would have to pay what is called a “disposition tax" when you die. A tax planning attorney can help you devise estate-planning strategies so you can take advantage of some tax breaks to minimize the income tax that can arise on death and ensure that your assets go to your beneficiaries instead of the CRA.

Buy-Sell agreements and other new business concerns

Buy-Sell agreements are very complex contracts that involve many tax considerations. If improperly structured, it can subject either the buying or the selling party to unnecessary taxes. A tax attorney will make sure that the document protects the owner’s interest and shield him from adverse tax consequences.If you are starting a new business, a tax attorney  can devise a consistent, sound legal tax structure from the outset to help reduce your overall tax liability and maximize the success of your business.

Foreign investments

All Canadian taxpayers are required to declare foreign investment income and pay any corresponding taxes to the CRA. A lawyer specializing in International Tax Law will be very familiar about taxes you’ll pay on your investments and can assist with the detailed and meticulous compliance requirements that are necessary for Canadian tax-filing purposes.

Cross Border Tax Planning

Canadian businesses expanding into other countries have various options on how they can structure their business operations. Each of those choices may have significant tax implications. They need the assistance of a lawyer with extensive experience in cross border tax law to help them fully understand tax laws of particular countries and how best to navigate them so they can take full advantage of cross-border planning opportunities to minimize any tax liabilities.

Frank Shostack
Tax planning is an important part of every individual’s or business's financial plan. Tax planning lawyers can assist you with suggestions and advice on how to take advantage of beneficial tax-law provisions and available tax deductions and credits under the CRA to help you save or minimize taxes.

Sunday, June 4, 2017

Documents Estate Planning Lawyers Say You Need for Your Estate Plan

Many people believe that estate planning lawyers can only help them with drafting a will or a trust. But really, they can do so much more. They can  draft living trusts, prepare powers of attorney, and put together health care directives. They can also help put a plan in place to protect your assets, recommend estate planning techniques to help lessen or avoid estate taxes, and ensure that your business, your property, and other valuable possessions are passed down to the right people and that your last wishes are closely met. Basically, what they do is help you through the entire process of estate planning.

Larry W. Keown

Drafting a will or trust is one essential part of estate planning. But, planning your estate involves drawing up these other important legal documents as well:

Powers of Attorney (POA)

This document is your written authority assigning one person to act on your behalf and conduct your affairs in the event of your disability.

An estate planning attorney may tell you that you need two different kinds of Powers of Attorney.

Powers of Attorney for Property - This type of POA can give the authorized person the power to transact real estate, enter into financial transactions and make other legal decisions in connection with your financial matters during your incapacity.
Powers of Attorney for Personal Care - This type of document gives the person you assign the power to make decisions on your behalf on matters relating to your medical treatment, admission to care facilities, and personal care and personal hygiene decisions if you are not capable of making these decisions for yourself.

Kelli Preston

Beneficiary Designations

It is important to assign appropriate beneficiaries for assets that “pass over” or “pass outside” the Will. These assets include:


  • Joint assets
  • RRSPs, RRIFs and TFSAs
  • Life Insurance policies
  • Informal trust accounts or Totten Trusts or payable on death (POD) accounts
  • Savings, checking accounts, CDs, and brokerage accounts
  • Living Trust assets
  • Charitable gifts
  • Business partnership shares


These assets don’t require probate and can be automatically passed to beneficiaries without it being distributed according to your will.

Health Care Advance Directive

This document is also sometimes called a Living Will and outlines detailed instructions for your end of life wishes, in particular your medical care and treatment decisions should you become incapable of deciding for yourself. It will help loved ones and medical professionals identify how you would like to be cared for in a terminal condition, a permanent coma or in a persistent vegetative state. It may provide instructions on whether or not you wish to receive artificial life-sustaining procedures or not.

Justin R. Winch

A Health Care Advance Directive is an important document because you cannot specify what type of medical treatment you want in a Last Will and Testament. This document will usually go hand in hand with a health care power of attorney, where you appoint another person to speak and act on your behalf.

Guardianship Designations

This document is especially important if you have minor children or are considering having children. This will allow you to formally appoint a person to act as guardian of your minor children and give him or her authority to make decisions on behalf of your minor children and be legally responsible for their personal affairs, health and well-being when you are no longer able to do so.

These documents, along with an irrevocable will, are all important to your estate plan. You may need more documents, depending on the laws of your province. Consulting with estate planning lawyers in your area can help you sort out critical questions about your state's regulations and how it may impact your situation.