Annually the lawyers and staff at Nixon Wenger LLP collect donations and give a local family/families a Christmas filled with presents and gift cards for groceries. This year we teamed up with the North Okanagan Youth and Family Services Society, to find a family in need that would be match for the Firm.
A huge thank you to everyone at Nixon Wenger who donated, shopped, wrapped, and more for this annual fundraiser!
A man in his 40’s that worked in the oil patch on drilling rigs was referred to Michael Yawney QC by a friend. The man had suffered a serious ankle injury that required surgery. He had a protracted period of recovery where he could not work, and his plans for further training to move up the chain of command on the oil rigs was delayed by a few years. While he recovered well, he was left with residual discomfort that made the job much more difficult. Mr. Yawney was able to resolve his claim prior to trial for $350,000.00 plus costs and disbursements.
Written by: Krystin Kempton, Associate
An incorporated business is a distinct legal entity, separate from its shareholders. Once incorporated, the new entity has the ability to do anything a person of full legal capacity can do, including entering into contracts and owning property. If you have decided to incorporate your business in British Columbia, there are a number of things to consider, including what to name your company.
If you wish for the company to be incorporated with a specific name, it has to be approved by BC Registries and Online Services. Once approved, BC Registry will not allow another company to incorporate with a name that is too similar to your company, therefore allowing your company to reserve the goodwill associated with that name.
The Business Corporations Regulation under the Business Corporations Act (British Columbia) sets out the required elements of a company name. The name must contain a distinctive component, a descriptive component and a corporate designation. Example: ABC Manufacturing Inc. (ABC = Distinctive; Manufacturing = Descriptive, and Inc. = Designation)
(1) Distinctive element: This element differentiates you from other companies.
(2) Descriptive element: This element describes the nature of the business. It expands the opportunity for name approval if a different company with similar or identical descriptive elements engages in different business activities, and therefore is not likely to be confused with your company for being too similar.
(3) Designation: A corporate designation is limited to Incorporated, Inc., Limited, Ltd., Corporation or Corp., as well as French versions of each of those designations. This is a personal preference option and doesn’t make a difference to the company which designation is selected.
Up to three name choices can be submitted in order of preference. The BC Registry will review each name to confirm it contains the prescribed elements and the name will be compared to existing company names on the BC Registry. The first (if any) name choice that meets the basic criteria and will not be confused with an existing company will be approved. The BC Registry will then reserve that name for you for 56 days.
Alternatively, a company can be incorporated as a numbered company. The BC Registry will simply assign a sequential number to the company upon registration. The company can then register a trade name and be known to customers as “doing business as” that trade name, although this is not necessary. There is no name security for a registered business name. The company must be identified by its actual name (i.e., the assigned number followed by B.C. Ltd.) for all formal and legal matters, such as writing cheques and entering into contracts, but the company may use its trade name for signs, business cards and letterhead, for example.
There are a number of other considerations when incorporating, including (among other things) whether to use standard articles or revise them to suit the needs of your company, determining share structure and shareholders, electing directors, appointing officers and selecting who shall have signing authority for the company. Once incorporated, the company will have ongoing reporting requirements under the Business Corporations Act. We recommend seeking legal advice to discuss these items and to ensure the incorporation is completed properly.
Pictured Above: Front Row, Basil Bansil (Lawyer), Leanne Rutley (Lawyer) and Andrew Powell (Partner).
Back Row: Allison Jaquish (Lawyer), Val Trevis (Office Manager), Anthony Saric (Articling Student), Paula Bifano (Human Resources Manager), Kristen Strilchuk (Articling Student) and Krystin Kempton (Lawyer).
Nixon Wenger LLP annually attends the very popular Greater Vernon Chamber of Commerce Christmas Lunch. Over 200 members come together to support various charities as well as help raise funds to continue the programs of the Chamber.
Michael Yawney QC was retained by a construction contractor from Salmon Arm BC who was involved in a bizarre accident on Hwy #1 where a transport truck side swiped his vehicle and then took off.
The client suffered a fracture to his orbital bone near his eye and vision and imbalance issues. The transport truck could not be identified and so the claim involved a hit and run scenario with limited insurance coverage available. Further, the client had to rely on his own underinsured insurance coverage, a process that required arbitration after a trial determined damages that exceeded the initial limited coverage under hit and run provisions. Mr. Yawney was able to negotiate a resolution of the client’s claim for $450,000.00 prior to trial.