Company Legal/Structure Worksheet
Factors to Consider
Importance – Low, Medium or High
Special Needs – Issues – Requirements – Why level of importance?
Limited personal liability of the owners – The type of incorporation will limit the owners’ or managers’ personal liability for debts and losses. How much can you lose?
Taxation – tax is treated at the personal level of the owners vs. the corporate level. Need to consider double taxation.
Control or management of the business – who runs the business? Can the business be managed without electing directors?
Continuity of the business – How long do you want the business to last – beyond you?
Raising Capital – Money – Does the structure make it easy to raise money? Are there limits on the shareholders, number of members etc.?
Complexity of setup and maintenance of business form – Does the type require minimum resources to register and maintain company records.
