When a business is incorporated, registered or trademarked within any jurisdiction within Canada, the government within that jurisdiction maintains a public record of the business which is accessible to anyone who wishes to obtain details of that business.
A not for profit corporation has a similar formation as a profit corporation benefits of being a separate legal entity from its members. A not for profit corporation is established to benefit the community.
Often people don’t realize how important it is to keep corporate records up to date with the Province of Ontario by filing a Notice of Change (form 1). It is the responsibility of the director/s of either a profit or not for profit corporation to update the record with the Province of Ontario any time there is a change.
We have been assisting individuals to incorporate in the Province of Ontario for over 20 years. In speaking with clients everyday, we hear entrepreneurs common questions about incorporating and the incorporation process. We offer the information below to help you understand and get you on your way to business ownership.
If you are looking at starting a business, you may have heard of the word Nuans stated as (‘New-ons’) and wondering if you are required to obtain a Nuans report for you new business.
A Nuans report is a 6 page computerized databank listing of existing corporate, business and trademark names that may be similar to your proposed business name.
A question that I am asked frequently is, what is the difference between registering a Master Business Licence and Incorporating. First of all, congratulations on embarking on this new phase of your life. Being an entrepreneur can be one of the most exciting adventures of life.