Entrepreneurship & Small Business

Incorporattion process? Do i need a lawyer?

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  • Feb 26th, 2019 7:39 pm
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[OP]
Member
Sep 13, 2016
207 posts
163 upvotes

Incorporattion process? Do i need a lawyer?

Is it easy to file for incorporation or i need a lawyer to fill out forms?
Couple of lawyers i contacted are asking for $1500+. Is that a fair quote?
8 replies
Deal Guru
User avatar
Mar 23, 2008
11502 posts
7791 upvotes
Edmonton
winnipeger1 wrote: Is it easy to file for incorporation or i need a lawyer to fill out forms?
Couple of lawyers i contacted are asking for $1500+. Is that a fair quote?
You may want to offer up more information. It’s dirt simple to incorporate. Between the forms and the clerk at the registry office, I’m sure you can figure it out.

But they can’t offer any advice on doing it right, and neither can anyone here without details. It depends on the structure of the company, what you plan on doing, etc.

C
Deal Fanatic
Sep 23, 2007
5061 posts
1150 upvotes
Key factors:
-How much money are you expecting to invest and earn? If you are going big, it's worth it to make sure everything is set up correctly
-How complicated is the structure? If you are a one man army, it is pretty safe to say do it yourself. If you have multiple shareholders, I highly recommend you not only get a lawyer to incorporate but also draft up a shareholder agreement. This is especially important when dealing with non-arms length people. And frankly sometimes even the closest relationships can break down after adding business to the relationship.
Deal Addict
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Aug 15, 2015
1568 posts
195 upvotes
Markham, ON
If you don't feel comfortable incorporating yourself, your local lawyer has already provided you with the market price.

You can call each of them back and ask what is included in the service (to see what added value they may provide) and then choose the lawyer you want.

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