Lancaster, Brooks & Welch LLP Information Brochures
The term "purchase and sale agreement" refers specifically to the contract between the vendor and purchaser for the transfer of either shares or assets of a going concern. The purpose of the agreement, is to provide certainty as to the value, identity and ownership of the assets or shares to be sold, and the amount and method of payment to be provided in exchange for the assets or shares.
Commercial law is that branch of private law concerned primarily with the supply of goods or services by merchants and other businesses for profit.
Corporation law is the body of law that governs the formation, governance and dissolution of corporations. The corporation is the dominant form of business organization in Canada.
A franchise is a special kind of combined license and distributorship, in which several elements are present. Franchisees obtain Franchise license to a grant of rights for one person or company to use intellectual property.
A distribution agreement is typically a contract between a manufacturer, producer or importer and an independent contractor.
A nonprofit organization (NPO) (also known as a non-business entity) is an organization with the purpose of which is something other than making a profit. A nonprofit organization is often dedicated to furthering a particular social cause or advocating for a particular point of view.
A partnership is an arrangement where parties, known as partners, agree to co-operate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations.
A company is owned by its shareholders. When a company is created, its founding shareholders determine how a company will be owned and managed. This takes the form of a "shareholders’ agreement. The shareholders appoint the directors who then appoint the officers in order to manage company activities.