Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Corporate maintenance as an element of corporate law

By Terry Jake Subscribe to RSS | July 21st 2012 | Views:

When you want to run your own business you need to get a name for your business. This name can turn into a brand or is like an image of your business. However, before you develop it and take it to untraded sector, you need to follow the fundamentals of the corporate law that prevail in the region and get your company incorporated. In other case, when you are involved in a business without getting the company incorporated, then either you are running a partnership firm or a sole proprietorship business.

In both of the latter cases, the loss arising out of the business is more personal than that of the business. Therefore to save yourself from such personal losses, you should get the company incorporated. However, once you get the company incorporated, you need to keep a proper maintenance of the incorporated business. Corporate law is widely different from commercial law or civil litigation law, since it does not involve a code of conduct that attract penalty on its violation. Rather, these laws are meant for proper functioning of the company to ensure it garners maximum profit. However, it is also about accountability of the company towards its business.

Corporate maintenance under corporate law mainly deals with upkeep of the incorporated business, ensuring that it abides the law that governs the incorporation of the company. The first obligation of the company under corporate maintenance is that of completing the filing requirements. The requirement and procedure for filing requirement varies from province to province; however, it is compulsory to comply with it.

Maintenance of the documents of incorporation, obligation of the directors and officers, promises made to the shareholders and all minutes from every important meeting and all accounts related documents needs to be properly maintained to ensure smooth functioning of the company and its compliance to corporate law that governs its incorporation. This ensures that whatever business is operated or perform by your company, the profit generated out of it is legitimate and in accordance to corporate law.

Though it is in general practice that once you start the process of incorporation of the business you have to employ a corporate lawyer to take care of the complete process. Moreover, it is also equally important that you know about the processes followed for incorporation of your business, ensuring that you understand not only your responsibilities and accountability for compliance to the corporate law, but you also understand the benefits that you get from getting the company incorporated and properly following tasks involved in corporate maintenance.

Terry Jake - About Author:
Columbia Square Law Office offers its quality legal services as a law firm in New Westminster region. It also offers its legal services regarding corporate law and civil litigation law.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Law Articles Subscribe to RSS

Are you looking for good Montgomery County lawyers?
Published by Abhay on June 22nd 2012 | Law
For example, it is highly beneficial to clients that their choice of lawyer is one who has a lot of ...
Importance of immigration lawyers
Published by Steve Mich on November 29th 2011 | Law
There was a time when one’s activities have limited to certain places. Very few people had activit...
Offshore lawyers can help injured maritime workers
Published by Cumurciuc Andrea on April 29th 2012 | Law
Working on seas or oceans involves many risks, including that of severe injuries or even death. The ...
Dui lawyers Nashville: resolving the DUI with an enormous success
Published by Philipronald on December 20th 2011 | Law
As, and, when man has become more, and more civilized various discrepancies of human behavioral diso...
Boca Raton divorce lawyers give informed advice to families in need
Published by DEBORAH MELANIE on January 27th 2012 | Law
Family law can be confusing. And the emotional strain that comes with divorce adds an additional bur...
Get solutions to all your crime cases by the experienced lawyers
Published by Arden on June 14th 2012 | Law
The best Toronto Criminal Law firm is Robichaud. The firm is full of experienced lawyers who can def...
Take assistance of accident lawyers to avail insurance claims
Published by Gerronlaw on May 7th 2012 | Law
Accidents occurred either on roads or at constructional sites, leave severe affects on the victim. H...
Crime and Criminal lawyers
Published by Steve Mich on November 29th 2011 | Law
As the world develops, and the technologies improve, crime rate is also increasing. Most modern tech...
Consult auto accident lawyers and accident attorneys in Dallas, to get the exact compensation
Published by Gerronlaw on December 6th 2011 | Law
Consulting an accident lawyer is always a best option after you have been a victim to an auto accide...