Have You Had Your Annual Corporate Legal Checkup Yet?

While some people don’t always see their Doctor for their annual physical, it is equally true that some Companies don’t bother going through an annual corporate legal checkup with their Lawyers.  The reasons can be many for trying to avoid a corporate checkup but like most other things, if you put it off, it might cost you more in the end.  Prevention is almost always a good idea!   

While the list of what to include in such a checkup can be lengthy, some elements to consider could include be the following:

1. Do you know where your Corporate Minute Book is and/or who has possession of it?
2. Is your Corporate Minute Book Up to date?
3. Have you had or should you have scheduled and sent out notices of your Annual General Meetings?
4. Has your Accountant prepared your financial statements? If not, does he or she have all the information they need to complete them?
5. Have you had any substantial changes to your business or its Shareholders, Officers, Directors, Places of Business, Trade Names or Trademarks?
6. Are your Annual filings up to date either Federally and/or Provincially, where applicable?
7. Are you seeking new financing this year?
8. Have you done a review of your standard contracts to see if they need updating?
9. Have you done a review of all your receivable to verify their age so that you don’t let prescriptive clock run out?
10. Is your corporate structure still working for you or does it need to be refreshed?

While the above is by no means an exhaustive list, I hope that it is food for thought for all of you business owners out there! 

Alan Ovadia is a Business Lawyer and Trademark Agent in Montreal, Quebec.  If you have any questions about the above or if you need help with your Business or Trademark issues, please direct your inquiries to Alan Ovadia by Email: [email protected] , Phone: (514-908-1818 x252) or through Private Message via Facebook or LinkedIn.

Disclaimer: The above list and posting is not exhaustive and should not be taken as, or considered to be, Legal Advice.  For any and all legal matters or questions you should always consult your Attorney!