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Purchase Agreement in Ontario: A Guide for Business Buyers and Sellers

Purchase Agreement in Ontario: A Guide for Business Buyers and Sellers

Key Takeaways A purchase agreement is a legally binding contract that sets the main terms of a business sale and outlines how risks are shared between the buyer and seller.  Choosing between an asset purchase agreement and a share purchase agreement can have significant tax and liability implications for both parties.  Careful due diligence and […]

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SaaS Privacy Policy Guide for Canadian Businesses

SaaS Privacy Policy in Canada: What Every SaaS Business Needs to Know

Key Takeaways It is a strict legal necessity: Any SaaS business collecting personal data from Canadians is legally required to have a privacy policy, largely dictated by federal laws like PIPEDA. Accuracy is critical to avoid penalties: A privacy policy must be an exact reflection of your technical reality; discrepancies between what you claim and

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Contract Review Services for Canadian Businesses: Why Ongoing Legal Support Matters

Contract Review Services for Canadian Businesses: Why Ongoing Legal Support Matters

Key Takeaways Contracts are the basis of your business: It is through legally binding commitments that even simple agreements can have a major impact on the success or failure of a business. This is why professional review is necessary. Unseen risks require expert review: By signing without a lawyer, you may subject yourself to very

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Shareholder Agreements in Ontario: What Happens If You Don’t Have One

Shareholder Agreements in Ontario: What Happens If You Don’t Have One

Beginning your business journey in the province of Ontario is a very thrilling stage of your life. Whether it is launching your tech startup business in the bustling metropolis of Toronto, opening a family restaurant in the scenic city of Ottawa, or expanding a production facility in Hamilton, your initial business days are generally marked

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Commercial Lease Assignment In Ontario- Everything Business Owners Need To Know

Commercial Lease Assignment In Ontario- Everything Business Owners Need To Know

If you’re a business owner in Ontario looking to sell your business, close a location, or simply hand off your lease to someone else, you’ve probably run into the term “lease assignment.” It sounds like dense legal jargon, but at its core, a lease assignment is simply about transferring your rights and responsibilities under a

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Director Resolution vs Shareholder Resolution: What Every Ontario Corporation Needs to Know

Director Resolution vs Shareholder Resolution: What Every Ontario Corporation Needs to Know

Key Takeaways Director resolutions govern day-to-day operations; shareholder resolutions control fundamental changes to ownership and structure.  Under the OBCA, written director resolutions require 100% of directors to sign, while written ordinary shareholder resolutions require a simple majority.  Special resolutions under the OBCA require two-thirds approval at a meeting or unanimous written consent from all voting

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Purchase Orders, Purchase Agreements, and Contracts Explained for Ontario Businesses

Purchase Orders, Purchase Agreements, and Contracts Explained for Ontario Businesses

Key Takeaways A purchase order is an offer, not a contract, until the seller accepts it through signature, performance, or conduct. Purchase agreements become legally binding contracts immediately upon both parties’ signatures, offering greater protection. Using purchase orders for complex, high-value transactions can expose your business to significant legal risks. Always include governing law and

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