Having a great business idea is no longer enough to ensure success. It also takes diligence, some luck, and effective business planning. How should you prepare your nascent business for growth? How do you balance between keeping immediate costs down with limiting your potential personal liability risks? Should you grow by way of partnerships, or into a corporation?
In this session participants will learn:
- The basics of business structures – Sole Proprietorship, Partnership, and Corporations
- How do you know when you should switch business structures?
- What are the costs typically associated with each type of business structure?
- Why a Partnership instead of a Corporation (and vis-versa)?
- Some tricks on how you can prepare your business to transition from one business type to another
David Contant is an associate lawyer at Nelligan O’Brien Payne LLP, and a member of our Commercial Litigation, Insurance Defence, and Personal Injury groups. David has significant experience in commercial disputes, including real property litigation, contract disputes, intellectual property matters, collections, and defamation.