PEI Non-Profit Organization

Corporation Name Rules in BC

Generally, a name should have two elements: 𝐃𝐢𝐬𝐭𝐢𝐧𝐜𝐭𝐢𝐯𝐞 and 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐯𝐞. The 𝐃𝐢𝐬𝐭𝐢𝐧𝐜𝐭𝐢𝐯𝐞 element can't be a common English word, it has to be unique or made-up words. For example, " Tim Hortons Restaurant Inc". In this name 'Tim Hortons' is the 𝐝𝐢𝐬𝐭𝐢𝐧𝐜𝐭𝐢𝐯𝐞/𝐮𝐧𝐢𝐪𝐮𝐞 𝐞𝐥𝐞𝐦𝐞𝐧𝐭. While the 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐯𝐞 𝐞𝐥𝐞𝐦𝐞𝐧𝐭 can be common English words. An example is "Tim Hortons Restaurant ". 'Restaurant' is the 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐯𝐞 𝐞𝐥𝐞𝐦𝐞𝐧𝐭. “Inc.” is mandatory legal suffix

Name Choice Rules: If your first Proposed Name is unavailable, we will register your alternate corporate name(s) in your order of preference. Regardless name rejection or approve, BC government does not issue refund; and therefore give 3 name choices in one submission; Utilize these 3 choices, by providing us 3 different names. The distinctive element must be unique or made up words and can't be common English word. The descriptive element can be common words.

Basic share structure: This business structure commonly used when a corporation has one single owner (shareholder). It allows for the issuance of an unlimited number of shares without specifying any particular share class. This structure does not differentiate between voting shares and non-voting shares.

Standard share structure: This Structure is highly recommendable when a corporation has multiple owners from the same family, such as spouses, children, or parents. This type of Articles of Incorporation enables the issuing of both class A common voting shares and class B common non-voting shares, but does not allow for the issuing of preferred shares. This is a sensible decision that allows for the family members to maintain control over the company while still allowing for the potential of financial growth. Class A shares typically have more voting rights and greater control over corporate decisions, while Class B shares may have fewer voting rights or none at all. The specific voting rights and differences between Class A and Class B shares can vary by company and are defined in the company's articles of incorporation or bylaws.

Custom share structure: When a corporation has more than one owner and any one of the owners are non-family members, such as relatives, friends, or business partners, it is commonly used to create custom share classes. These classes can include preferred shares, which can provide certain benefits to the owners, or they can be without preferred shares. This allows the owners to customize the share classes to their own needs and preferences.Seals are typically used to indicate authenticity authenticity, official approval, or membership in a particular group or organization. Seals are commonly used on Business documents.