In B.C., incorporation creates a legal entity known as a corporation, commonly referred to as a company. Three types of companies may be created through incorporation:
- Limited company (most common)
- Unlimited liability company
- Community contribution company
What Incorporation Means
Companies are incorporated in B.C. under the Business Corporations Act. The Act gives incorporated companies:
- All the powers of an individual
- An independent existence – separate and distinct from its shareholders
- An unlimited life expectancy
A company can acquire assets, go into debt, enter into contracts, sue or be sued.
To Incorporate or Not to Incorporate
The decision of whether to incorporate depends on the goals of the organization and needs of the individuals involved (often called principals). If you have questions about whether or not to incorporate, ask an expert and seek legal advice.
Find out how to
- File an Annual Report
- Update or correct registered information
- Amalgamate companies
- Dissolve a company
- Restore a company
- File a Notice of Withdrawal
Other Incorporated Organizations
Cooperative Associations and Societies (not-for-profit organizations) are also incorporated but under different legislation.