Should I have a business lawyer?

Posted by Spencer SchmidtJan 19, 20220 Comments

As a business owner you've got a lot of things on your plate. Receivables, managing employees, paying bills, networking etc. It can often feel like you have no time to do what you love doing; growing your business. A corporate lawyer can help you plan and grow your business as well as manage some of your corporate administrative tasks.

A corporate lawyer can assist you with the following requirements of all BC companies:

  • The registered and records office: The Business Corporations Act of BC requires that every BC company has a registered and records office. This is a physical address where the minute book and corporate records are kept. The address needs to be open during regular business hours and open for the public to view the minute book. You can use your lawyer's office as your company's registered and records office and avoid listing your private residence in the public record as your business address.
  • The annual report: BC companies are also required to file an annual report with the provincial Registrar of Companies. If you miss two consecutives annual reports, you risk having the Registrar dissolve your company. Your lawyer can file your annual report for you and ensure you do not miss the filing deadline.
  • The minute book: BC companies must maintain a minute book, which is a binder consisting of all their corporate records, filings and share certificates. The minute book will include any company resolutions etc. Your lawyer can manage your company minute book and hold it at their office.

Missing any of the above requirements can be costly and time consuming. Retaining a lawyer to manage these details of your company can allow you to focus on other aspects of your business and may save you money in the long run.

Cornerstone Lawyers are the experienced corporate lawyers for a variety of companies. Call today and start experiencing the peace of mind of having us manage your corporate records.