Your partner in
Your notary, your company's legal analyst and adviser
The growing number of managers who have appointed a notary
as their company's legal analyst and adviser know they have
made the right choice. First and foremost a legal expert,
a notary receives a university law education, with an emphasis
on commercial law, and builds on this solid foundation through
contacts with the business world and courses offered by the
Chambre des notaires du Québec.
Your notary is uniquely equipped to effectively blend legal
requirements with economic imperatives.
Your notary will make a thorough analysis of your current
situation and your objectives. Such analysis may require you
- Whether you have business partners;
- Your intention to transfer your company
to your spouse and children at some future time;
- The kind of protection you want for
- Your financing needs;
- The tax benefits you enjoy
and any other relevant information.
After analysis, the notary can recommend the legal status
best suited to your company and help you choose among the
benefits and characteristics particular to whatever form your
company may take.
If you decide on an unincorporated sole proprietorship, you
should be aware that:. Your personal liability is unlimited:
- You will be taxed at the personal
- If you and your partners prefer to
form a partnership, you should be aware that:
- Your personal liability is unlimited;
- You will be taxed at the personal
- You must draw up a contract of partnership
specifying the rules for sharing income and losses, and
the terms and conditions for buy-out, retirement or dissolution
of the partnership.
- If you decide to form a company,
you should be aware that:
- Your liability is limited to your
- You gain numerous tax benefits;
- You must incorporate under the Canada
Business Corporation Act or the Quebec Companies Act;
- You can execute a shareholder
Once you have decided on the legal form which best suits
your needs, your notary can draw up the necessary documents
to establish your company's corporate and legal status.
A legal adviser
The notarial profession
Of French origin, the notarial profession has existed in Quebec
since French Civil Law took root here, giving this Province
a unique place in the North American legal world.
The profession is managed by the Chambre des notaires du Québec,
a professional corporation governed by the Professional Code.
Taking account, as it does, of the constant changes in the
law, the university education received by a notary and the
continuous refining of his legal knowledge make today's notary
the legal adviser in non-contentious matters and specialist
in preventive law.
An international profession
The notarial profession exists all over the world except in
most of the countries formerly part of the British Empire.
Nevertheless, a kind of notarial profession may be found in
British Columbia and in Great Britain itself. The Chambre
des notaires du Québec forms part of the International
Union of Latin Notaries. Approximately forty countries are
members of this organization, including France, Japan, Mexico,
In Quebec, there are presently more than 3,500 notaries found
in almost every municipality of the Province.
Although lots of its members are in private law practice,
notaries may also be found more and more frequently in public
and para-public organizations. They are present in several
government ministries and big crown corporations, governed
boards and agencies, and also in private companies, financial
institutions, municipal corporations, etc.
The notary, your legal adviser
All your life, you are called upon to make very important
decisions of legal, economic and social nature.
Think of the obligations resulting from a marriage, a divorce,
a will and the consequent transmission of assets, the purchase
of a property and its financing, or setting up a company or