ou could save hundreds of Secondly, you could benefit from
dollars by incorporating the expertise of your lawyer.
yourself without a lawyer. Perhaps a corporation isn`t the
How? Is it advisable to do so? right vehicle for you under your
circumstances. Be aware that
1. This is Not Legal Advice! there can be disadvantages as
well as advantages to
The only ones who should be incorporating. Your lawyer can
giving legal advice are those consider commercial law,
licensed to practise law (in securities legislation, limited
other words, only lawyers). This liability, tax factors, estate
article is not legal advice. If planning, share structure, and a
you need legal advice, consult a myriad of other business
lawyer. considerations. Sometimes the
advice of a good lawyer can save
This article is being written you thousands of dollars.
simply to inform you that it is
possible to form a corporation or 3. Is it Advisable to Incorporate
limited liability company without Yourself?
a lawyer.
Is it advisable to perform
2. Why Use a Lawyer? surgery on yourself? It is
illegal to perform surgery on
First of all, if you make a someone else unless you are
mistake incorporating yourself, licensed to practise medicine,
who do you sue? You only have but perhaps in a wilderness
yourself to blame. On the other survival scenario, self-surgery
hand, a lawyer has insurance to might be your only option.
cover errors and omissions. However, is performing surgery on
yourself really a good idea in
most instances? their own decision on whether or
not to seek the services of a
Likewise, just because it is lawyer in forming a corporation.
possible to incorporate yourself
without a lawyer doesn`t mean it "He who has himself as a lawyer
is always a good idea. has a fool for a client." I have
often thought that perhaps a law
In some jurisdictions, only firm originated this common
lawyers can incorporate others. expression.
For a paralegal or other person
to incorporate a company for you 4. How To Incorporate Yourself
could be considered unauthorized
practise of law. Thus, it may be Many books have been written by
legal to incorporate yourself but lawyers on how to incorporate
not others. yourself.
Some factors you might consider For example, in Canada, M.
are: Am I really that short of Stephen Georgas, LL.B., has
cash that I can`t spend the extra written books on the subject of
money for good legal advice that forming
may save me thousands of dollars? your own corporation. Published
Am I confident that my situation by International Self-Counsel
is one that really doesn`t need Press Ltd., he has authored
the services of a lawyer to "Incorporation and Business Guide
incorporate? Can the money saved for Ontario" ("How to form your
on legal fees be better utilized own corporation Includes tax
in financing other aspects of my advantages to incorporating") and
business? "Federal Incorporation And
Business Guide" ("How to form
Each person will have to make your own Federal corporation
under The Canada Business federal, provincial and state
Corporations Act"). governments for free or nominal
cost.
The same publisher sells forms
and minute books as well as You can sometimes locate
titles for incorporating in other incorporation manuals at your
provinces of Canada. local library for free. Be
careful. Legal manuals become
Forms, corporate supplies, name outdated very rapidly. You might
searches, and kits are available consider very seriously
from legal stationers and other purchasing the most up-to-date
sources. manual available; it might also
include helpful reference
In the United States, there are material on maintaining corporate
likewise many manuals available minutes and other helpful
for incorporating yourself in suggestions on operating your
various states. "Incorporating corporation.
Your Business For Dummies" by The
Company Corporation and "How To Buy the appropriate manual and
Form Your Own Corporation Without supplies and then follow the
a Lawyer for Under $75.00" by Ted instructions. With a little
Nicholas are two such books. effort, you could save hundreds
of dollars incorporating yourself
Sometimes helpful information on without a lawyer.
this subject is available from
About the Author:
J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. To learn more about incorporating yourself and other profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/incorporation.html
Read more articles by:
Stephen Pope
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