Prince Edward Island Business Registration
Eric P. Cohen, Barrister & Solicitor offers several types of Prince Edward Island business registration services including Prince Edward Island sole proprietorship business name registrations, Prince Edward Island general partnership business name registrations and Prince Edward Island trade/operating name registrations (operating names for corporations). Business names are registered in the Province of Prince Edward Island under the Partnership Act (Prince Edward Island).Click Here for Pricing & to Register Your Business Now!
Types of Business Registrations
- Sole proprietorships are the most common and simple form of business structure. Under this type of business structure, one person owns the assets of the business and is also personally responsible for its liabilities. The owner can employ others to help in operating the business, but the owner usually manages the business himself or herself. There are few formal legal requirements to establish sole proprietorships, and they are much cheaper to create than corporations. A Prince Edward Island sole proprietorship must have its registered business address located within the Province of Prince Edward Island.
- Partnerships are similar to sole proprietorships in that the owners of the business personally own all the assets of the partnership and are personally responsible for the liabilities of the partnership. The basic difference between a partnership and sole proprietorship is that a partnership has more than one owner (referred to as a partner). The partners can employ others to help in operating the business, but they usually have a hand in the operation or management of the business. There are few formal legal requirements to establish partnerships, and they are much cheaper to create than corporations. A Prince Edward Island partnership must have its registered business address located within the Province of Prince Edward Island.
- Trade names are business name registrations for corporations. Any corporation that identifies itself to the public under a name other than its full corporate name must register that name as a trade name (also known as a business name, operating name, fictitious name, trade style, and dba – "doing business as" name). Both the trade name and the underlying corporate name must be identified on all contracts and other legal documents. Trade names are commonly used where a corporation operates using several business names for different divisions of its business.
Fast Facts-Prince Edward Island Business Registration
|Prince Edward Island Business Registration|
Click Here for Pricing & to Register Your Business Now!