Business Formation

Business Formation Lawyers in Edmonton, Alberta

Starting a business is an exciting endeavour, but choosing the proper structure and establishing a solid legal foundation is essential for long-term success. At Cambria LLP, we offer comprehensive business formation services to help entrepreneurs and business owners in Edmonton and across Alberta get started on the right foot. Whether you’re incorporating a company, establishing a partnership, or setting up a sole proprietorship, our experienced team is here to provide the guidance you need to build a strong foundation and protect your interests.

Incorporation

Incorporating your business provides numerous advantages, including limited liability, tax benefits, and increased credibility. Incorporation can be complex, involving decisions about share structures, corporate governance, and regulatory compliance. Our team at Cambria LLP makes the incorporation process straightforward, ensuring that your company is established legally, efficiently, and in compliance with Alberta’s corporate laws.

Benefits of Incorporation

• Limited Liability Protection. Incorporation limits personal liability, protecting your personal assets from business debts or lawsuits.
• Tax Advantages. Corporations may have access to tax benefits and deductions that aren’t available to sole proprietorships or partnerships.
• Enhanced Credibility and Access to Funding. Incorporation can make attracting investors easier and build credibility with customers and partners.

Our Incorporation Services Include

• Corporate Name Registration and Compliance. We help you choose and register a business name, ensuring compliance with Alberta’s naming requirements.
• Share Structure and Governance Setup. Our team works with you to set up an effective share structure, by-laws, and corporate governance policies.
• Filing with Corporate Registry. We handle all necessary filings with Alberta’s Corporate Registry to ensure your company is legally recognized.

Ready to incorporate your business? Contact Cambria LLP at 780-540-8100 to get started with a consultation.

Partnership Agreements

Partnerships are common for businesses where two or more individuals want to work together. However, it’s essential to have a well-drafted partnership agreement to outline each partner’s roles, responsibilities, and profit-sharing arrangements. A partnership agreement helps prevent disputes and ensures that all partners clearly understand their rights and obligations.

Key Elements of a Partnership Agreement

• Roles and Responsibilities. Clearly define each partner’s contributions, responsibilities, and day-to-day roles in the business.
• Profit and Loss Sharing. Outline how profits and losses will be divided, taking into account each partner’s investment and level of involvement.
• Decision-Making and Dispute Resolution. Establish guidelines for decision-making processes and set up mechanisms for resolving disputes if they arise.

Our Partnership Agreement Services Include

• Customized Agreement Drafting. We create tailored partnership agreements that reflect your unique business arrangement and goals.
• Conflict Prevention Provisions. Our team includes provisions to address potential issues, such as partner exits, new partner admissions, and buyout terms.
• Legal Compliance and Registration. We ensure that your partnership agreement complies with Alberta’s laws and, if required, assist with registering the partnership.

Looking to form a partnership? Call Cambria LLP at 780-540-8100 to discuss how we can help draft a partnership agreement that protects your interests.

Sole Proprietorships

Sole proprietorships are the simplest business structure, ideal for individuals who want complete control over their business. While setting up a sole proprietorship is straightforward, it’s still important to understand the legal and tax implications involved. At Cambria LLP, we guide you through the process of setting up a sole proprietorship in Alberta, helping you understand your responsibilities and avoid common pitfalls.

Benefits of a Sole Proprietorship

• Simple Setup and Lower Costs. Sole proprietorships have fewer regulatory requirements and lower setup costs compared to corporations.
• Full Control and Flexibility. As the sole owner, you have complete control over business decisions and can adapt your operations quickly.
• Direct Income and Tax Simplicity. Income is reported directly on your tax return, making it easier to manage taxes.

Our Sole Proprietorship Services Include

• Business Registration Assistance. We help with business name registration (if applicable) and ensure your sole proprietorship meets Alberta’s legal requirements.
• Legal and Tax Guidance. Our team provides insights on the legal and tax responsibilities specific to sole proprietors, helping you plan effectively.
• Transition Support for Growth. If you decide to expand or incorporate in the future, we offer guidance on how to transition to a more complex business structure.

Thinking about starting a sole proprietorship? Reach out to Cambria LLP at 780-540-8100 to learn more about setting up your business.

Launch Your Business with Confidence

At Cambria LLP, we’re here to provide trusted legal guidance and practical support for business formation. Whether you’re incorporating, forming a partnership, or setting up a sole proprietorship, our team will work with you to establish a solid legal foundation that sets you up for success. Contact us at 780-540-8100 to discuss your business goals and get started with our Edmonton-based business formation experts.