As an individual, you don't need to register a business name – you can always conduct business under your personal name.

The incorporation of a business does have certain benefits though. Business names are useful for marketing purposes, and also allow you to accept and make payments with your bank under a business name. More importantly, incorporation protects your assets personally from legal liability.

For the most part, it's just a preference. The federal, however, gives your business increased business name protection and wider rights to conduct business. You may also opt for federal incorporation if you plan on conducting operations in multiple provinces or simply extra provincially register your province corporation in other provinces. 

The biggest advantage of incorporation is limited liability for shareholders. Under law, a corporation is considered to be a legal person that is distinct from the shareholders who own it. This means that individual shareholders are not personally liable for the debts and obligations of the corporation. If a corporation fails, the shareholders will lose the amount of equity invested with their shares. One disadvantage of a corporation is that income is taxed at two levels: first on income for the corporate entity, and then at the shareholder level where shareholders are taxed on any dividends they have received.

Yes, you can incorporate it without the assistance of a lawyer. The Government will accept completed forms necessary for incorporating in person, and online. However, you will not likely receive assistance from the Government or your accountant:

- in determining which documents need to be completed;

- in preparing your Articles of Incorporation, and additional forms that are necessary for the incorporation process;

- in preparing your minutebook and necessary resolutions;

- with completing the NUANS and Corporate Name Reservation process; and

- in reviewing your information for mistakes.

A director is a person who is elected by either the incorporators or the shareholders of a corporation to conduct the affairs of the company.

A person is disqualified from being a director if that person is:

- under 18 years of age;

- found by a court to be incapable of managing the individual's own affairs;

- an undischarged bankrupt, or;

- convicted of an offence in connection with the promotion, formation or management of a corporation or other business, or of an offence involving fraud, unless:

     - the court orders otherwise;

     - a pardon was granted; or

     - 5 years have elapsed since the last to occur of:

     - the expiration of the period set for suspension of the passing of sentence without a sentence having been passed;

     - the imposition of a fine;

     - the conclusion of the term of any imprisonment; or

     - the conclusion of the term of any probation imposed.

No, a shareholder does not have to be 18 or older. However, you should be careful, as the laws regarding underage shareholders may be complex. If you plan to list someone under the age of 18 as a shareholder.

An Officer is someone who ordinarily performs some of the management functions of the corporation. An Officer does not need to be a Shareholder or Director, and is appointed and reports to the Directors of a corporation.

Yes, a director can be appointed to any office of the corporation, and can also hold shares of the company.