23 April

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Buying a Dental Practice: Dentist Business Lawyers – What we do greatly

Although medical and dental fields may have some specifications when it comes to business acquisitions, the legal foundation and steps are the same as other business acquisitions. Stage 1: Letter Of Intent A letter of intent is a letter that outlines key terms and conditions of the purchase of the dental clinic. It is not the Agreement of Purchase and Sale itself. It is, as explained in our article for the purchase of medical practices, an agreement to agree. It must be drafted by a lawyer because it can be legally binding, which means that it will impose legal obligations on...

17 April

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Design Law – Lawyer for Architects and Interior Designers

Posted by Rana Charif

in Business Law

Rules Governing Architects and Interior Designers Architects The Ontario Association of Architects (the "OAA") governs services between architects and users. The OAA's Code of Ethics establishes guidelines that Architects must follow when providing services. These should be reflected in Architects' service agreements, which we can assist in drafting as business lawyers. Typically, architectural services include: the preparation or provision of a design to govern the construction, enlargement, or alteration of a building;evaluating, advising on or reporting on the construction, enlargement, or alteration of a building;a general review of the construction, enlargement, or alteration of a building;planning, urban design, and land-use planning;creating preliminary studies,...

17 April

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Buying a Medical Practice In Ontario

Posted by Rana Charif

in Business Law

Only licensed physicians can purchase a medical practice. Although buying a medical practice may be a safer financial decision, there may be some major adaptations required to continue the process successfully. Buyers are likely required to adapt to current practices and cultures or risk losing patients and staff. From a legal perspective, purchasing a medical practice requires fundamentally the same core steps as other business purchases: Due diligence is the rule of thumb. First Things First: Confidentiality & Non-Disclosure Agreement Although some practitioners may wish to shortcut the sale and purchase process and rely solely on a written agreement to complete...

23 November

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Partnership Agreements: What You Need To Know

Posted by Rana Charif

in Business Law

BASICS A Partnership Agreement is an agreement between parties to provide for the terms of a business partnership between partners. Could be more than two. The agreement would typically govern capital contributions, management of the business venture, distribution of profits between partners and loss. NECESSITY I ALWAYS recommend and encourage clients to put any commitment in writing. Colloquially, "talk is cheap". However, when parties put commitments and promises in writing, then sign it, you have your evidence at the tip of your fingers. Although a valid contract may be oral, it is very challenging to prove. As a lawyer, I would happily...

07 September

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When should you incorporate? Why? And How?

Posted by Rana Charif

in Business Law

As a business lawyer and an immigration lawyer, we do a significant amount of incorporations for businesses across Canada. Have you been doing business lately without incorporating? This is how most small business owners start: they register a business name, apply for a Master Business License and start working on getting their names out there to start selling and doing business. Entrepreneurs are resourceful, and that also applies to the legal steps that they favor in certain stages. However, once your business begins to generate a certain amount of revenue, it is important to start considering an incorporation. Here are a...

13 August

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How To Be Protected by Canadian Copyright Law

Posted by Rana Charif

in Business Law

Disclaimer: although this article is written by a licensed Canadian Business Lawyer, do not take this as official legal advice for your specific case. Law is complicated because a tiny exception can reject an entire regulatory regime. Copyright is governed by the Copyright Act, R.S.C., 1985, c C-42, which is a federal Canadian statute. When you are protected by Copyright, you are the only person legally capable of reproducing the object that is subject to Copyright protection. You are entitled to this right for your entire life plus 50 years after the year in which you die. You do not...

05 August

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Make Money With Your Intellectual Property – Small Business Lawyer Toronto

Posted by Rana Charif

in Business Law

According to Statistics Canada Surveys on Financing and Growth of Small and Medium Enterprises, Businesses that manage their intellectual Property are: four times more likely to export, sixty four percent more likely to be high growth and thirty two percent more likely to seek financing. Intellectual property ("IP") is when expressions of intellectual or creative pursuits are treated in legal and social spheres as property, with all its resulting implications (e.g., ownership, use, economic transactions, etc.), see here. Some examples of intellectual property are: inventions, such as products and processesthe original visual features of a productliterary, artistic, dramatic and musical creationsexpressed words,...

22 July

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Remedies for Breach of Contract

Posted by Rana Charif

in Business Law, Litigation

To avoid contract disputes and the domino effect of a badly written contract, it is important to hire an experienced and detail-oriented contract lawyer to professionally draft your contracts. That would be the best preventative measure to ensure that you are legally protected years ahead. However, if there has been a breach of contract, this is what you need to know. Broadly speaking, the remedies for breach of contract are threefold. Monetary Awards A monetary award in Canadian dollars or damages is the standard remedy for breach of contract. When calculating this award, the importance lies in considering the recognizable heads of...

19 July

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What is an Asset Purchase? When to opt for it.

Posted by Rana Charif

in Business Law

When looking to invest or grow a business, a common investment strategy is the purchase of another business's shares or assets. Another option is statutory amalgamations which will be discussed in another blog post. Share Purchase Transactions Share Purchase Transactions, on the one hand, represent approximately 65% of private equity acquisitions in Canada. A "Share Purchase Transaction" is when a buyer buys some or all of a company’s shares. In a partial share sale (less than 100% of the shares), the buyer will become a shareholder alongside the other shareholders of the company. From a legal conveyancing perspective, the simple delivery...

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