Edmonton Business Law Guide

Frequently Asked Questions

What business structure is best?

Consider:

• Liability protection – Personal asset protection
• Tax implications – Different tax treatments
• Setup costs – Initial expenses
• Ongoing requirements – Maintenance needs
• Growth plans – Future expansion
• Exit strategy – Business succession

How do I register a business?

Registration process:

• Choose name – Must be unique
• Check availability – Name search
• File documents – Required forms
• Pay fees – Registration costs
• Get numbers – Tax and business
• Display license – Required posting

What licenses do I need?

Common licenses:

• Business license – Basic requirement
• Industry specific – Professional permits
• Health permits – Food service
• Safety permits – Construction
• Environmental – Industry specific
• Special use – Unique activities

How do I protect my business?

Protection methods:

• Proper structure – Right business type
• Good contracts – Clear agreements
• Insurance coverage – Appropriate policies
• Legal compliance – Follow regulations
• Record keeping – Document everything
• Professional advice – Legal guidance

What are common business contracts?

Important contracts:

• Partnership agreement – Business structure
• Employment contracts – Worker terms
• Service agreements – Client relations
• Lease agreements – Property rental
• Supplier contracts – Vendor terms
• Sales agreements – Customer terms

How do I handle disputes?

Dispute resolution:

• Negotiation – Direct discussion
• Mediation – Third party help
• Arbitration – Binding decision
• Litigation – Court process
• Alternative methods – Creative solutions
• Legal advice – Professional guidance

What are business taxes?

Tax obligations:

• Income tax – Business earnings
• GST/HST – Sales tax
• Payroll tax – Employee deductions
• Property tax – Business premises
• Business tax – Municipal charges
• Special taxes – Industry specific

How do I protect intellectual property?

IP protection:

• Trademarks – Brand protection
• Copyrights – Creative works
• Patents – Inventions
• Trade secrets – Confidential information
• Licensing – IP agreements
• Registration – Official protection

What are employment laws?

Employment requirements:

• Minimum wage – Pay standards
• Hours of work – Time regulations
• Overtime – Extra pay rules
• Vacation – Time off requirements
• Termination – End of employment
• Safety – Workplace standards

How do I handle business debt?

Debt management:

• Payment plans – Structured repayment
• Negotiation – With creditors
• Consolidation – Combine debts
• Bankruptcy – Last resort
• Legal protection – Rights and options
• Professional advice – Financial guidance

What is business succession?

Succession planning:

• Will preparation – Estate planning
• Buy-sell agreements – Ownership transfer
• Family transition – Family business
• Employee ownership – Worker buyout
• Sale process – Business sale
• Tax planning – Transfer taxes

How do I expand my business?

Expansion considerations:

• Market research – Growth potential
• Financing – Funding options
• Location – New premises
• Staffing – Additional employees
• Legal requirements – New regulations
• Risk assessment – Expansion risks

What is business insurance?

Insurance types:

• Liability – Legal protection
• Property – Asset coverage
• Business interruption – Income protection
• Professional – Error coverage
• Employee – Worker benefits
• Special risks – Industry specific

How do I find a good lawyer?

Finding a lawyer:

• Check experience – Look for business law specialization
• Review credentials – Professional qualifications
• Consider reputation – Standing in legal community
• Check references – From other clients
• Interview multiple – Meet with several lawyers
• Get referrals – Ask for recommendations