Business Legal Check-up is a legal diagnostic tool used for audits by various small and medium-sized companies. The tool helps them recognize if their operations are obeying the law, and if the risk they are bearing, litigation and expenses are manageable. 

After the lawyer verifies all the aspects, they prepare the report highlighting and red flagging all the elements or points that need review, improvement, legal action, or advice. You can contact our Brampton Business Lawyer for the correct legal advice that will help you improve your business prospects. 

Things to consider

If you are a responsible business owner, these are some of the essential things you should consider before starting the business organization:

• The business got incorporated and set-up. The directors and officers are assigned, and the shares get allocated. Make sure that the corporate minutes and registers are also updated. 
• The duties and liabilities stand distributed among all the directors and members of the organization. There is ample insurance coverage to protect the directors from harm. 
• The parties are getting equal treatment and have a clear idea about their roles. Everyone should sign the shareholder’s agreement. Whenever the organization must get terminated or valued, the orderly method should be followed. Business Corporation’s minority shareholders’ rights and requirements should remain understandable to you. 
• You should file for business registration and register all the business names you’re using. You should also have a system to renew before expiry. 
• The trademark, copyright, and patent application should get filed for the business’s intellectual property rights. 
• The URL of your website should get trademarked. Also, get your website audited to verify that there are no security violations, privacy infringement, defamation, etc. The online sales portal should also get set-up to prevent legal issues. 
• Keep your registrations and licenses as well as your salespeople updated. Have a system to guarantee that the registrations and their regulatory requirements are updated and monitored. 
• Your lease is long term and has been inspected by the lawyer. Ensure that you know all the details about your lease, and you are well-aware of the extra amount the landlord can charge you. 
• All the legal forms, contracts, and applications such as the Consumer Protection Act, the Sale of Goods Act, the Bills of Exchange, etc., have been evaluated by your lawyer and obey the laws. 
• While extending the credit, the service charges should not exceed the ‘criminal rate of interest.’ 
• You are aware of the Competition Act and the prohibitions and penalties against unfair competition and deceptive advertising. 
• You should understand the privacy legislation. Have a system to guarantee that you follow the law every time you collect, disclose, or use personal information. 
• Ensure you understand the obligations under the Employment Standard Act. The employees should sign the agreement to let them know the notice period before receiving the termination letter. You should also be aware of how much is due to which employee in case of termination. 
• The employees should sign all non-competition agreements and non-solicitation contracts that prohibit them from taking your best clients, employees, or trade secrets if they leave to start their own business. 
• You should know about the sexual harassment and Human rights codes and understand how to deal with these issues thoughtfully. 

Business check-up procedure

The procedure for a business check-up involves the following steps:

• Fill the forms and provide legal and confidential information about your business. 
• Make an appointment with our business lawyers in Brampton to determine what the business check-up covers. Things like environmental law or tax law won’t get covered unless you specifically ask for it. 
• The business check-up will help you provide perspective about the following:

1. Authority and corporation set-up
2. Employee-Employer Relationship
3. Business contracts and forms
4. Illegal advertising and unfair competition
5. Intellectual Property Rights and Privacy
6. Risk management and safety issues
7. Analysis of the risk and management of existing lawsuits
8. Internet Issues
9. Licensing issues
10. Relationship between the proprietors

• The business check-up can help you meet the specific requirements you have. However, you may need outside legal experts for consultations. 
• You will have to provide information and documents about each classification of the analysis. 
• After a business check-up or analysis by one lawyer, you should also consult other lawyers for clarity and confirmation. It would be best if you also discussed everything with the other senior officers. 
• The lawyer will prepare a thorough report about the issues that need your attention and they will red flag the things that need urgency. They will also explain the status of each topic to you in detail. 
• You can also request your lawyer to provide you and your team with an oral presentation about the findings to help you get clarity. The lawyer may also provide you with a Q and A session to assist you clear your doubts. 
• The lawyer might also guide you to specific lawyers that may help you with the issue you face. 

Generally, a business legal check-up costs around $5000-$7000 if the company has less than five employees, has one business body, and operates from one site. 

Determining your need for a business check-up

Usually, businesses are required to provide clarity to the government and the public. The company needs to comply with the law to stay away from legal troubles. To do so, you need business check-ups. 

Business check-ups can come in handy when looking for a prospective buyer to buy your business, and when the buyer asks you to get it done. Every business should anyway get an analysis done bi-annually to ensure the company’s smooth functioning. 

If you need government contracts, a business check-up could be necessary for you. Unlike ISO14400and ISO9001 agreement requirements, the information will get shared only with the management and not outside parties.  Business Check-ups are a new service in Canada within a fixed price range. Mostly, small and medium-sized businesses utilize this service. The business check-up will help you run the business smoothly and provide you – the owner, peace of mind. Contact our business lawyer for Brampton for more details.