Paralegal Professional Corporations Lawyers
If you are a licensed paralegal in Ontario, then you are entitled to register your practice as a professional corporation. To commence practice as a professional corporation, you must be registrant with the Law Society of Ontario and licensed to practice as a paralegal or lawyer in Ontario.
An initial step in commencing practice as a paralegal professional corporation is to register a new corporation under the Business Corporations Act, 1990. Following which, approval of the proposed paralegal professional corporation is required from the Law Society of Ontario in the form of a certificate of authorization.
During the corporation registration and application process, you must ensure to comply with the strict requirements of Law Society of Ontario. To ensure compliance of your professional obligations, Law Society of Ontario requires that your corporation is structured correctly. For instance, a paralegal professional corporation must meet the naming requirements set out by the Law Society of Ontario. An applicant may be required to seek pre-approval of the proposed name for a paralegal professional corporation prior to filing an application with Law Society of Ontario.
Benefits of a paralegal professional corporation:
Corporate structuring benefits
Accounting and taxation benefits
Ease of sale or transfer your paralegal practice
Separate personal and business liabilities
At Falcon Law PC, we can assist you with the registration and approval of your paralegal professional corporation. Having worked with many paralegal professional corporations, we are well versed with the requirements of Law Society of Ontario and can assist you in easily obtaining approval for your paralegal professional corporation.
Following registration of your paralegal professional corporation, Falcon Law PC can assist you with the ongoing corporate and professional compliance of your paralegal professional Corporation, advise on professional liability insurance matters, and facilitate corporate transactions and agreements relating to your paralegal professional corporation.
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If you are a licensed paralegal in Ontario, registering as a paralegal professional corporation is an option but not an obligation. Registering as a paralegal professional corporation is a commercial decision and depends upon the particular nature of your practice.
No, with a paralegal professional corporation you will remain personally liable for your professional obligations as a licensed paralegal.
You may be protected from the liability of non-professional business related activities. For example, if you entered into a property lease with your paralegal professional corporation, then you most probably would not be personally responsible for this.
You are required to maintain a minute book for any corporation in Ontario. A minute book is a virtual or physical book containing your corporate records, including, but not limited to, share certificates, ledgers, and resolutions.
Once you have registered a paralegal professional corporation, you are required to ensure ongoing compliance with corporate laws and professional obligations set out by the Law Society of Ontario. Falcon Law PC is experienced in representing many paralegals and paralegal professional corporations and we can assist you with all of your corporate maintenance requirements.
Yes, a lawyer that is licensed to practice law in Ontario with the Law Society of Ontario may be able to join a paralegal corporation as a shareholder and/or director.
No, all paralegal corporations must be registered pursuant to the Business Corporations Act (Ontario).
Yes, you are required to renew your paralegal professional corporation with the Law Society of Ontario on an annual basis by completing a form and paying a renewal fee.
Additional Resources
- Click here to find out more about Law Society of Ontario’s paralegal corporation naming requirements.
- Click here to view the Law Society of Ontario’s information sheet for paralegals seeking to form a paralegal professional corporation.
Find out more about:
- Incorporating as a paralegal professional corporation.
- Paralegal professional corporation lawyers.
- Law firm for paralegal professional corporation.
- Applying for a certificate of authorization for a paralegal professional corporation.
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