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