Organization Unit
Published: Jul 29, 2004
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Organizational Structure
Have you considered the legal, risk, continuity and operational ramifications of the various forms of ownership?
- Why have you selected or not selected the individual proprietorship form?
- Why have you selected or not selected the partnership form?
- Why have you selected or not selected the incorporation form?
If deciding to incorporate, have you sought legal advice?
- Have you selected the appropriate jurisdiction for your enterprise?
- How many shareholders and in what proportions?
- What is the criteria for being a shareholder?
- Will active principals be shareholders?
- Are you incorporating to satisfy the conditions of an industry, association, profession or liability?
- Who are the president, secretary and directors?
- What is the initial distribution of shares?
- How will subsequent issues be determined?
- How many shares are authorized and issued?
- Have you listed the contact details for your legal advisor?
Will you have a Board of Directors?
- What expertise and/or funds will each member contribute to the corporation?
- What role with this board play in the conduct of your business?
What government regulations apply to your enterprise?
- Do you conform with fire prevention measures?
- Do you conform with food and health regulations?
- Do you conform with employment standards?
- Do you conform with municipal bylaws?
- Do you conform with provincial/state legislation and regulations?
- Do you conform with federal legislation and regulations?
- Does this include all taxation requirements?
- Have you applied for all the appropriate licenses?
- Are there environmental concerns for your type of enterprise?
- Have you searched the internet for the above information?
Are there any governing bodies within your industry?
- Are there specific qualifications for registration?
- Do you possess these qualifications?
Have you investigated and/or registered for copyrights or trademarks?
Have you initiated and/or arranged for liaisons or associations in your industry?
What is the structure of your organization?
- Do you have an organizational chart?
- Is your chart extended beyond titles and names to include functions?
- Do you have job descriptions for, at least, the main functions?
What roles or functions are fulfilled by advisors, contractors or consultants?
Do you have need for a specialist in taxation or is your accountant well connected in this field?
Do you have access to a person with a good knowledge of risk management?
- Is this person your insurance agent?
- Does this agent service other business clients with situations similar to yours?
Do you have plans throughout the usual life cycle of a business?
- Do you have an Action Plan for Startup?
- What plans do you have for the Development stage?
- What plans do you have for the Expansion stage?
- What plans do you have for the Maturity stage?
- Will you require succession plans?
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