COMPANY INCORPORATION

Company Incorporation

The major benefit of company incorporation is the limited liability that goes with it. This completely separates you from the business such that it becomes virtually impossible for creditors or third parties to attack you as a person. Corporations are considered independent from their owners, shareholders or a director meaning the death of any member does not affect their continuity. They can acquire assets, obtain loans and get into contracts. They get tax incentives which sole proprietorships aren't entitled to. Operating a transport company in the Canada is a high exposure risk. Lawsuits are common especially ones relating to insurance. Sometimes a court can award your employee more than your insurance cover putting your business and yourself at risk should you be operating a sole proprietorship or a partnership