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Canadian corporate law concerns the operation of corporations in Canada, which can be established under either federal or provincial authority. Federal incorporation of for-profit corporations is governed by Corporations Canada under the Canada Business Corporations Act. All of the Canadian provinces and territories also have laws permitting ...
The Canada Business Corporations Act (CBCA; French: Loi canadienne sur les sociétés par actions) is an act of the Parliament of Canada regulating Canadian business corporations. Corporations in Canada may be incorporated federally, under the CBCA, or provincially under a similar provincial law.
Foreign corporations often incorporate branches or special-purpose subsidiaries within Canada in order to facilitate business and control their investments. [12] Business profits earned in Canada by such a branch will be subject to regular federal and provincial corporate Income Taxes. An additional Federal Branch Tax is also applied on profits ...
Company: In the Korean Commercial Act, a company is a corporation established for commercial activities or other for-profit purposes. A company comes into existence by registering its incorporation at the location of its head office. 합명회사; 合名會社; hammyeonghoesa : gōmei gaisha (Japan); corporation similar to a general partnership
Canada is the world's eighth-largest economy as of 2022, with a nominal GDP of approximately US$2.2 trillion. [1] It is a member of the Organisation for Economic Co-operation and Development (OECD) and the Group of Seven (G7), and is one of the world's top ten trading nations , with a highly globalized economy.
The federal Post Office Department became a Crown corporation as Canada Post Corporation in 1981, and Canada's export credit agency, Export Development Canada, was created in 1985. Perhaps the most controversial was Petro-Canada, Canada's short-lived attempt to create a national oil Crown corporation, founded in 1975.
An unlimited liability corporation (ULC) within Canadian corporate law is a Canadian corporation designation, wherein shareholders are liable up to unlimited amounts for any liability, act or default of the corporation. By comparison, in most corporations, shareholders are not usually liable due to a limited liability model.
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal