Definitions
The minimum number that must be present at a meeting for a decision to count.
What is a quorum?
The document completed and filed to incorporate a corporation.
What are the Articles of Incorporation?
A corporation must register under this legislation if it uses a name other than its corporate name.
What is the Business Names Act?
This type of director holds office from the time the corporation is created until the first meeting of the shareholders.
Who is a first director?
A formal, significant decision of a corporation.
What is a resolution?
This right allows shareholders to force the corporation to buy back its shares.
What is a retraction right?
This document is completed by a first director who is not also an incorporator.
What is a Consent to Act as First Director?
The provincial incorporation statute in Ontario.
What is the Ontario Business Corporations Act (OBCA)?
A person creating a corporation.
Who is an incorporator?
This type of share is not represented by a paper share certificate.
What is an uncertificated security?
The number of directors that must be present to constitute a quorum when the corporation only has 2 directors.
What is 2?
The birth certificate of a corporation.
What is the Certificate of Incorporation?
This federal intellectual property legislation permits a corporation to register a word, symbol or design or combination of these, to identify wares, goods, or services of one business to differentiate from those of others.
What is the Trademarks Act?
The owners of a corporation.
Who is the shareholders?
This type of shareholder resolution requires at least 50 percent plus one vote cast in favour of the resolution.
What is an ordinary resolution?
An example of this type of financing is a bank loan.
What is debt financing?
This letter is created at the conclusion of a law firm's work and provides a comprehensive review of the work completed relating to the incorporation of a new corporation.
What is a Reporting Letter?
This legislation contains complex registration and prospectus requirements for publicly traded corporations.
What is the Securities Act?
These individuals are appointed by directors to carry out the day-to-day affairs of the corporation.
Who are officers?
An agreement in writing by all of a corporation's shareholders that may restrict in whole or in part the ability of the directors to manage the corporation.
What is a Unanimous Shareholder Agreement?
Where the most detailed internal rules for corporations are contained.
What is the by-laws?
This form must be completed within 60 days of the date of incorporation to provide a public record of certain information about the corporation.
What is the Initial Return?
This legislation requires corporations to provide a public record of certain information about the corporation within 60 days of the date of incorporation.
What is the Corporations Information Act?
This individual conducts tests on the trustworthiness of the data before giving an opinion on the quality or accuracy of a corporation’s financial statements.
Who is an auditor?