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That must be it. I incorporated my dad's company as a sole-proprietor and it was dirt cheap. I am guessing the process gets complicated when more than one found
by python_kiss 20y ago
That must be it. I incorporated my dad's company as a sole-proprietor and it was dirt cheap. I am guessing the process gets complicated when more than one founder is involved. Blood thirsty lawyers!
- davidw 20y agoI'm curious about that whole aspect of things. At this point, they must have it down to some sort of a formula. What kinds of variables are there? Stock, board of directors? They've got to have something of a cookie cutter by now...
- jadams 20y agoIf you're in Canada, and you set up a sole proprietorship for your dad, then you didn't incorporate it. Corporations and sole proprietorships are mutually exclusive categories of companies. Setting up a sole proprietorship is as easy as going to a business kiosk and filling out some forms.
- papersmith 20y agoSetting up a sole proprietorship is as easy as going to a business kiosk and filling out some forms. I think in BC you don't even need to register if you use your own name, so it's completely free (money/bureaucracy).
- python_kiss 20y agoThat is also true in Ontario, Canada; you are not required to incorporate if you're using your own name for the business.
- jadams 20y agoYou're using the word "incorporate" incorrectly, which was my original point. To incorporate means to start a corporation. Therefore, registering a sole-proprietorship is, by definition, not incorporation. The more general term is "register", which applies to the three forms of business: sole-proprietorships, partnerships, and corporations. What you're thinking of is a business name registration. If you do business as your exact name, you don't need to register a name. If you make more than, $30k (I think), then you do need to register for a GST number.