GERALD PUGH

The corporation is a separate legal entity from the shareholders and therefore it has perpetual existence. If the ownership of the corporation changes, the corporation continues to exist in law. This provides for continuity of the business of the corporation... The ownership of a corporation may easily be transferred simply by transferring shares, another benefit of conducting business as a corporation. The transfer of ownership can be as easy as endorsing the back of the share certificate in favour of the new shareholder. However, sometimes it is not so simple. The new owners may require various representations and warranties from the corporation and at the same time the previous owners may also wish to exclude liability in certain areas and limit representations and warranties. All this must be addressed while the corporation is actively carrying on business.

Primary location: Fredericton Canada