by Garnet Brooks, Business Lawyer, Wickwire Holm
With an increase in Aboriginal entrepreneurship in Canada, there is an increasing desire for entrepreneurs at all stages to become more informed on the basic legal concepts which concern them and their respective businesses. There are legal consequences to owning and operating a business. There are also unique considerations that are particular to being a status Indian entrepreneur in Canada that should be made by Aboriginal entrepreneurs.
Garnet Brooks is a business lawyer, an experienced entrepreneur and Aboriginal. He practises law with a focus on business and entrepreneur clients at Wickwire Holm in Halifax. Garnet writes “Entrepreneur Law” articles in order discuss and bring awareness of some of the important legal issues entrepreneurs may encounter as they venture into the world of business.
In previous articles I discussed the sole proprietorship and general partnership business structures, which are commonly utilized by new small business entrepreneurs who are starting out. This article will discuss the limited partnership structure, which is a step up in terms of complexity. This structure is often used when there are more specific goals with respect to facilitating certain investment structures and / or tax planning needs. First Nations may also utilize the limited partnership vehicle as part of their overall economic development set-up, which could be structured to achieve significant tax benefits and also to gain the limi ...
Tags: Garnet Brooks, Limited Partnership, Wickwire Holm