Brennan Okafor LLPLawyers · Winnipeg (555) 555-0128

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Practice 01

Business law, from the first filing to the sale.

For owner-run companies in Manitoba: setting up properly, keeping the records the Companies Office and your bank expect, and getting the big agreements right.

Routine corporate work is a flat fee. Purchases and sales of a business are quoted after a first meeting, in writing, with a range you can plan around.

Incorporation

A Manitoba company, set up so it works later.

Most incorporation trouble shows up years afterwards: shares issued to the wrong person, no record of who the directors are, a bank asking for resolutions nobody signed. We set it up so those questions have answers.

Flat fee $1,250, plus about $420 in government and search fees.

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Included in the flat fee

  • Name search (NUANS report) and a call about the name, or a numbered company
  • Articles of incorporation filed with the Manitoba Companies Office
  • Share structure for up to three owners, with a note on why it suits you
  • General by-law, first directors’ and shareholders’ resolutions
  • Share certificates, registers and a minute book (digital and binder)
  • Individual with significant control register, which every company must keep
  • A 30-minute handover call with your accountant if you want one

After year one

Annual minute-book upkeep.

Every Manitoba company files an annual return and should approve its year in writing. We do both each year, and remind you before the deadline.

Flat, per year

$395

Plus the $60 Companies Office filing fee. Covers the annual resolutions, the annual return and updated registers.

Changes during the year

$175 each

A new director, a change of address or a simple share transfer between existing owners.

Catch-up

Quoted

Minute books that have gone a few years without attention. We look first, then send a fixed price.

Agreements between owners

Decide the hard questions while everyone gets along.

A shareholder or partnership agreement is mostly about what happens when something changes: someone wants out, gets sick, divorces or dies.

Agreements and leasesFlat fees unless marked “from”. Before disbursements and tax.
MatterWhat it coversFee
Shareholder agreementTwo or three shareholders. Decision rules, buy-sell terms, valuation method, what happens on death or disability, non-compete. Two rounds of revisions.Four or more shareholders, or investors who are not working in the business: quoted.from $2,800
Partnership agreementFor partners not using a company: profit split, capital, leaving, and winding up.from $2,400
Commercial lease review (tenant)Leases up to about 40 pages. A written memo of the clauses that cost money or limit you, a call to go through it, and suggested changes to send the landlord.$950
Commercial lease (landlord)A lease drafted for your building, or an existing form brought up to date.from $1,800
Lease negotiationBack-and-forth with the landlord or their lawyer after the review.hourly

Buying or selling a business

How a small business sale usually runs.

Most deals we see close in 8 to 14 weeks from a signed letter of intent. The longest part is usually the buyer’s review and the lender, not the paperwork.

A business sale in five stages: letter of intent, due diligence over about four to eight weeks, the purchase agreement, conditions such as financing and landlord consent, and closing, where money moves through our trust account and the keys and records change hands. WEEK 0 Letter of intent price, deal shape, exclusivity WEEKS 1 – 8 Due diligence books, leases, staff, contracts, minute book, liens WEEK 6 – 9 Purchase agreement asset or share deal, warranties, holdbacks WEEK 9 – 12 Conditions financing, landlord consent, key staff, licences CLOSING Close funds through trust, keys and records
Asset purchase

You buy what the business owns

Equipment, stock, name, customer lists and the lease. Old debts usually stay with the seller. Typical legal fees for a small deal: $6,500 to $12,000.

Share purchase

You buy the company itself

Everything comes with it, including history. More review, tighter warranties. Typical: $9,000 to $18,000.

Selling

Getting ready a year early

A clean minute book, assignable leases and signed contracts with key customers make the buyer’s review shorter and the price easier to hold.

Disputes go elsewhere

If a partner, customer or landlord is suing you or you need to sue them, we will refer you to a litigation firm. We can still hand them the agreements and a summary so you don’t pay twice to explain the background.

Starting, changing or selling a company?

Ask for a consultation

The first 20-minute call is free. We check for conflicts first, so please include the company name.

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