YOUR NOTARY
Your partner in business

Your notary, your company's legal analyst and adviser
The growing number of managers who have appointed a notary as their company's legal analyst and adviser know they have made the right choice. First and foremost a legal expert, a notary receives a university law education, with an emphasis on commercial law, and builds on this solid foundation through contacts with the business world and courses offered by the Chambre des notaires du Québec.
Your notary is uniquely equipped to effectively blend legal requirements with economic imperatives.

Analysis
Your notary will make a thorough analysis of your current situation and your objectives. Such analysis may require you to discuss:

• Whether you have business partners;
• Your intention to transfer your company to your spouse and children at some future time;
• The kind of protection you want for your investment;
• Your financing needs;
• The tax benefits you enjoy and any other relevant information.

Legal status
After analysis, the notary can recommend the legal status best suited to your company and help you choose among the benefits and characteristics particular to whatever form your company may take.
If you decide on an unincorporated sole proprietorship, you should be aware that:. Your personal liability is unlimited:

• You will be taxed at the personal rate;
• If you and your partners prefer to form a partnership, you should be aware that:
• Your personal liability is unlimited;
• You will be taxed at the personal rate;
• You must draw up a contract of partnership specifying the rules for sharing income and losses, and the terms and conditions for buy-out, retirement or dissolution of the partnership.
• If you decide to form a company, you should be aware that:
• Your liability is limited to your investment;
• You gain numerous tax benefits;
• You must incorporate under the Canada Business Corporation Act or the Quebec Companies Act;
• You can execute a shareholder agreement.
  Once you have decided on the legal form which best suits your needs, your notary can draw up the necessary documents to establish your company's corporate and legal status.
  

THE NOTARY
A legal adviser

The notarial profession
Of French origin, the notarial profession has existed in Quebec since French Civil Law took root here, giving this Province a unique place in the North American legal world.

The profession is managed by the Chambre des notaires du Québec, a professional corporation governed by the Professional Code.

Taking account, as it does, of the constant changes in the law, the university education received by a notary and the continuous refining of his legal knowledge make today's notary the legal adviser in non-contentious matters and specialist in preventive law.

An international profession
The notarial profession exists all over the world except in most of the countries formerly part of the British Empire. Nevertheless, a kind of notarial profession may be found in British Columbia and in Great Britain itself. The Chambre des notaires du Québec forms part of the International Union of Latin Notaries. Approximately forty countries are members of this organization, including France, Japan, Mexico, etc.

In Quebec, there are presently more than 3,500 notaries found in almost every municipality of the Province.

Although lots of its members are in private law practice, notaries may also be found more and more frequently in public and para-public organizations. They are present in several government ministries and big crown corporations, governed boards and agencies, and also in private companies, financial institutions, municipal corporations, etc.

The notary, your legal adviser
All your life, you are called upon to make very important decisions of legal, economic and social nature.

Think of the obligations resulting from a marriage, a divorce, a will and the consequent transmission of assets, the purchase of a property and its financing, or setting up a company or a partnership.