Introduction to the Blog Series: "Understanding the Corporation"

A corporation is an entity created by a person or a group of people for the purpose of creating a separate legal entity for themselves.  In other words, when a corporation is created it has a separate existence from any individuals, although it is set up and ran by individuals or groups of people.  This separate legal existence allows for liability protection, tax savings and estate planning to the extent that the jurisdiction where the corporation is set up allows within its rules and laws.  Although Corporations exist in countries all over the world, they are all similar in nature.  Also, a lot of provinces states and countries offer different types of corporations for different purposes.  For example, in The United States Corporations come in many forms such as Limited Liability Corporations (LLCs), S Corporations, C Corporations and more.  In Canada the main Corporations we use are Canadian Controlled Private Corporations (CCPCs), Professional Corporations, Public Corporations, Non Profit and Charitable Corporations.  In the scope of this series we will mostly be discussing the CCPCs as these are the Private Corporations that the everyday Canadian uses.  The other types of Corporations share similar traits and have similar rules so these blogs do have application to the different types of Corporations, and as usual if you have questions you can contact me.

In this series we will go cover what a corporation is, how to understand the basics of a Corporation, why and when to incorporate, ways to structure corporations, steps on incorporating, working with a corporation, maximizing the use of a corporation and how to sell, dissolve(close) or pass on an incorporation.  This is a much needed series that I know will educate and assist many.