Unless otherwise agreed, every partnership is dissolved by the death or insolvency of a partner (see s. 33(1) of the Act). Unless otherwise agreed, a partnership is also dissolved if entered into for an undefined time if a partner gives notice to the other partners of the intention to dissolve the partnership (see s. 32 […]
Archive | Corporate Registries
RSS feed for this sectionForm a new Limited Partnership in Ontario: Expulsion of Partner; Voluntary Withdrawal
Unless otherwise agreed, no majority of the partners can expel any partner (see s. 25 of the Act) unless conferred by express agreement of the partners. Consider also the implications under the agreement should a partner elect to voluntarily withdraw from the firm. Also consider adding to the agreement rules (or policies) for the expulsion […]
Form a new Limited Partnership in Ontario Sale of Partnership Interest
A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Sale of Partnership Interest It is typically best to prohibit the sale or transfer in any […]
Form a new Limited Partnership in Ontario: Restrictive Covenants; Intellectual Property Ownership
A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Restrictive Covenants; Intellectual Property Ownership Unless the other partners consent, a partner has a statutory obligation […]
Form a new Limited Partnership in Ontario Retirement, Bankruptcy or Death of Partner
A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Retirement, Bankruptcy or Death of Partner Unless otherwise agreed, death or insolvency of a partner results […]
Form a new Limited Partnership in Ontario Drawing Arrangements
A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Drawing Arrangements Determine how often, how much and who may draw against partnership profits. Consider limiting […]
Form a new Limited Partnership in Ontario Partnership Contracts
Form a new Limited Partnership in Ontario Management A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Partnership Contracts Determine who signs what contracts and […]
Form a new Limited Partnership in Ontario Management
A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Management Determine who is in charge of various partnership functions, such as sales, administration and production […]
Form a new Limited Partnership in Ontario Partners to Devote Full Time
Form a new Limited Partnership in Ontario Partners to Devote Full Time A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Partners to Devote Full […]
Form a new Limited Partnership in Ontario Restrictions on Partners
A Limited Partnership is formed in Ontario according to the statutes of the Ontario Limited Partnership Act. A limited partnership is a partnership governed by statute and any governing documents agreed to between the parties (e.g. limited partnership agreement). Restrictions on Partners Consider restricting partners from encumbering their partnership interests to secure personal debts. If […]
