Things That Could Happen If You Break a Commercial Lease
Whether you are a landlord or a tenant, your commercial lease binds you. This means you can walk away from the agreement, but the courts may penalize you for doing so. How you are penalized depends on who breaks the lease, how it is broken, and what your contractual lease dictates.
What Happens When There Is No Shareholders Agreement?
Many people starting businesses want to establish a fair relationship between shareholders. Some business owners rely on their Articles of Incorporation and provincial bylaws, while others use shareholders’ agreements. You can think of Articles of Incorporation as the basic coverage that the Canada Business Corporations Act requires.
How to End a Partnership Agreement
The first thing to do when seeking to end a partnership agreement is to refer to your partnership agreement’s clauses that set out how to dissolve or terminate the partnership. If such clauses do exist, then follow the road map and adhere to those requirements. The contract may limit the circumstances in which partners can dissolve the partnership.
An Overview of Corporate Books and Records
The Business Corporations Act (“BCA”) requires you to maintain a book of the specific documents regarding your company if your company has been incorporated, amalgamated, or continued in BC. The types of records you must keep are detailed in section 42 of the BCA.
Can a Landlord Sell a Commercial Property During a Lease?
Yes, your landlord can sell the commercial property you are leasing. The new landlord will inherit you as a tenant for the duration of your lease.
Can a Landlord Refuse to Renew a Commercial Lease?
The quick answer is yes. Your commercial landlord has no default legal requirement to renew or extend an existing lease. However, the landlord may be required to renew the lease if the lease agreement allows you to continue to your occupancy beyond the expiry of the current lease term.
Business Partnership Agreements: What You Need to Know
Partnerships are arrangements between two or more persons carrying on business together with a view to profit (Partnership Act, s. 2). In BC, we have three types: general, limited, and limited liability.
Corporate vs. Commercial Law: What’s the Difference?
The world of business is organized by both corporate and commercial law. While both types of law work to provide structure and consistency to business operations, corporate and commercial law are distinct.
Trademark vs Copyright in Business: What's the Difference?
Your business assets extend to your brand name, logos, music, and much more. As such, you can use intellectual property (“IP”) rights to protect your assets. Two important IP rights for businesses are copyrights and trademarks.
What Should Be Included in a Commercial Lease?
A commercial lease is a binding legal agreement between a landlord and a commercial tenant which allows the tenant a real property interest. Statute and common law provide some rules protecting tenants from landlord interference and ejection, but these existing rights and rules are subject to the contractual terms in each particular lease.