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Authors: Philip T King
Published by: Ivey Publishing
Originally published in: 1999
Version: 2000-01-20
Length: 19 pages
Data source: Published sources

Abstract

This note describes the history, merits and limitations associated with the establishment of a sole proprietorship, a partnership and a corporate or limited liability company in Canada. It reviews the flexibility of each option and the relative liability assumed by the principal owners when choosing the form of organization. The question of liability is then examined further with emphasis on negligence, product liability and professional liability. The note also outlines the standard of care defense that is central to staving off liability lawsuits.
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Abstract

This note describes the history, merits and limitations associated with the establishment of a sole proprietorship, a partnership and a corporate or limited liability company in Canada. It reviews the flexibility of each option and the relative liability assumed by the principal owners when choosing the form of organization. The question of liability is then examined further with emphasis on negligence, product liability and professional liability. The note also outlines the standard of care defense that is central to staving off liability lawsuits.

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