| You could save hundreds of dollars by incorporating | | | | incorporate? Can the money saved on legal fees be |
| yourself without a lawyer. How? Is it advisable to do | | | | better utilized in financing other aspects of my |
| so? | | | | business? |
| 1. This is Not Legal Advice! | | | | Each person will have to make their own decision on |
| The only ones who should be giving legal advice are | | | | whether or not to seek the services of a lawyer in |
| those licensed to practise law (in other words, only | | | | forming a corporation. |
| lawyers). This article is not legal advice. If you need | | | | "He who has himself as a lawyer has a fool for a |
| legal advice, consult a lawyer. | | | | client." I have often thought that perhaps a law firm |
| This article is being written simply to inform you that it | | | | originated this common expression. |
| is possible to form a corporation or limited liability | | | | 4. How To Incorporate Yourself |
| company without a lawyer. | | | | Many books have been written by lawyers on how to |
| 2. Why Use a Lawyer? | | | | incorporate yourself. |
| First of all, if you make a mistake incorporating | | | | For example, in Canada, M. Stephen Georgas, LL.B., |
| yourself, who do you sue? You only have yourself to | | | | has written books on the subject of forming your own |
| blame. On the other hand, a lawyer has insurance to | | | | corporation. Published by International Self-Counsel |
| cover errors and omissions. | | | | Press Ltd., he has authored "Incorporation and |
| Secondly, you could benefit from the expertise of your | | | | Business Guide for Ontario" ("How to form your own |
| lawyer. Perhaps a corporation isn`t the right vehicle for | | | | corporation Includes tax advantages to incorporating") |
| you under your circumstances. Be aware that there | | | | and "Federal Incorporation And Business Guide" ("How |
| can be disadvantages as well as advantages to | | | | to form your own Federal corporation under The |
| incorporating. Your lawyer can consider commercial | | | | Canada Business Corporations Act"). |
| law, securities legislation, limited liability, tax factors, | | | | The same publisher sells forms and minute books as |
| estate planning, share structure, and a myriad of other | | | | well as titles for incorporating in other provinces of |
| business considerations. Sometimes the advice of a | | | | Canada. |
| good lawyer can save you thousands of dollars. | | | | Forms, corporate supplies, name searches, and kits are |
| 3. Is it Advisable to Incorporate Yourself? | | | | available from legal stationers and other sources. |
| Is it advisable to perform surgery on yourself? It is | | | | In the United States, there are likewise many manuals |
| illegal to perform surgery on someone else unless you | | | | available for incorporating yourself in various states. |
| are licensed to practise medicine, but perhaps in a | | | | "How To Form Your Own Corporation Without a |
| wilderness survival scenario, self-surgery might be your | | | | Lawyer for Under $75.00" by Ted Nicholas is one such |
| only option. However, is performing surgery on yourself | | | | book. |
| really a good idea in most instances? | | | | Sometimes helpful information on this subject is |
| Likewise, just because it is possible to incorporate | | | | available from federal, provincial and state |
| yourself without a lawyer doesn`t mean it is always a | | | | governments for free or nominal cost. |
| good idea. | | | | You can sometimes locate incorporation manuals at |
| In some jurisdictions, only lawyers can incorporate | | | | your local library for free. Be careful. Legal manuals |
| others. For a paralegal or other person to incorporate | | | | become outdated very rapidly. You might consider |
| a company for you could be considered unauthorized | | | | very seriously purchasing the most up-to-date manual |
| practise of law. Thus, it may be legal to incorporate | | | | available; it might also include helpful reference material |
| yourself but not others. | | | | on maintaining corporate minutes and other helpful |
| Some factors you might consider are: Am I really that | | | | suggestions on operating your corporation. |
| short of cash that I can`t spend the extra money for | | | | Buy the appropriate manual and supplies and then |
| good legal advice that may save me thousands of | | | | follow the instructions. With a little effort, you could |
| dollars? Am I confident that my situation is one that | | | | save hundreds of dollars incorporating yourself without |
| really doesn`t need the services of a lawyer to | | | | a lawyer. |