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    Asset Purchase Agreement

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    Employment Contract

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    Letter of Intent

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    Limited Partnership Agreement

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    Promissory Note

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    Services Agreement

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  • Answer some questions to see what type of business is right for you. Click below to get started.
  • Click on the "?" icon to understand the difference between a business partner and someone who is just an investor.

    A business partner is someone (a person or another company) that is going to be operating the business with you. They could be a co-founder, another business that compliments yours in some way that's joining you on a project, or a strategic partner that you're starting a completely new business with. They may also be, and many times are, part owners of the business. Whatever their role, like you they are actively working to grow and operate the business.


    An investor is someone who contributes money or other resources to your business in exchange for owning a part of your business. Investors can be active by giving advice and voting on major business decisions. Investors can also be passive by just giving money or other resources, but only expecting a return on investment and not playing an active role in the business by giving advice or deciding on major business decisions.



    A passive investor is one that wants to leave the business and management decisions to you. So, a passive investor provides funds and expects a return on investment, but lets you run your business. They may want to be updated from time to time of course, and they might vote on things like who gets to be on the Board of Directors or a Management Committee, but otherwise they are mostly quiet and let you go about your business and don't take an active part in your operations. 


    Most common type of business


    Most common type of business


    Most common type of business


  • A Corporation could work great for you.

    • Limited liability: As an owner or investor of the Corporation, you get shares that represent how much of the company you own and you're called a shareholder. The great thing about a Corporation is that the shareholders are not liable for the Corporation's debts and obligations. That's a huge plus since it allows you to run a business without putting your own personal money and assets at risk. It's also the biggest reason why Corporations are used so much.
    • Taxes: The law and tax rules see a Corporation as a separate legal person, so it has to pay taxes like the rest of us. So do the shareholders on what they take as income from the Corporation. This is the so-called "double taxation" problem. But that doesn't mean a Corporation is all bad for taxes. There are some ways Corporations can help you save on taxes through business expenses deductions.
    • Shareholders can play an active role in the company's management and operations: The shareholders can make business decisions, have management roles, and generally be quite active in the Corporation's operations if they want to, all without losing their limited liability protection.
    • Easy to transfer ownership: You can easily bring investors into the Corporation, or sell the whole or part of your business.
    • Keep personal and business separate: A Corporation is separate from its owners (i.e. you), so the business can borrow money, raise money, and enter into contracts on its own.
    • Include a Unanimous Shareholder Agreement: If you have business partners and investors, you can make a Unanimous Shareholder Agreement. It’s a rule book that covers how you'll vote on major business decisions, who gets new shares, how someone can sell their shares, and what happens when you want to sell the business (and more).

    Let's Make a Corporation


  • A general partnership could be suited to what you need right now.

    • Great for saving on taxes: General Partnerships are not taxed, which can make them a great tool for structuring your business. It's also the main reason why you might choose a General Partnership over a Corporation, which is taxed. The profits flow through the partnership, without being taxed, and on to the partners, who do get taxed.
    • No protection from liability: a General Partnership does not protect the partners from liability. You may have heard that shareholders in a Corporation are not responsible for the debts and obligations of the company. That's true. But, it's not true for the partners in a General Partnership - they are liable in full for all the debts and obligations of the partnership.
    • Meant for businesses to work together in a tax efficient way: So why use a General Partnership? They're meant for two (or more) businesses to come together and partner on a project or new business idea. Since the businesses are okay with the risk of the new project, they don't create a whole new Corporation for it. Instead, they accept the risk of being liable for the debts and obligations of the project and in exchange, they get the benefit of not being taxed for the project as a separate company. The General Partnership Agreement the business partners come up with will outline how they will work together.
    • Why would you be okay with the risk of being liable? We don't mean to get too technical on you, this isn't meant to be a law school course after all! But here's the thing - a General Partnership isn't really a new business. It isn't a separate company or legal entity. Instead, it's two or businesses coming together to work on something. So, because they are existing businesses, the partners are usually already set up as Corporations. In fact, it would be a bad idea (in almost every case) to not have a Corporation set up if you're going to be in a General Partnership. Since the existing businesses coming together in the General Partnership are Corporations, their owners (meaning, the shareholders of the Corporations) are protected from liability. So, they're okay with the risk and instead want the tax benefits of being in a General Partnership.
    • So, how is a General Partnership typically set up? Usually, you have two or more Corporations set up for each business partner. The Corporations are more commonly the existing businesses of the partners that have been running for a while. Less common (but still normal though) is to set up new Corporations for each of the partners. Then you make a General Partnership Agreement to set up your working relationship. From there, you start working. Be sure to get your accountant involved in the tax planning.

    Let's Make a General Partnership


  • A Limited Partnership could work for you.

    • Great for saving on taxes: Limited Partnerships are not taxed, which can make them a great tool for structuring your business. It's also the main reason why you might choose a Limited Partnership over a Corporation, which is taxed. The profits flow through the partnership, without being taxed, and on to the partners, who do get taxed.
    • Limited liability for the Limited Partners, sort of...: The Limited Partners are only liable for the debts and obligations of the partnership up to the amount of their investment. So if you put in $10,000 into the partnership as a Limited Partner, that's the maximum liability you have unless...
    • Limited Partners can lose their limited liability: ...If the Limited Partners take an active role in the operation and management of the partnership, they will lose their limited liability protection and can be fully responsible for the debts and obligations of the partnership. Tip: it's a good idea to have the Limited Partners be Corporations to give you extra protection.
    • The General Partner is in charge and liable for the partnership's debts and obligations: You'll need at least one General Partner, and that's the partner who is in charge of managing the business and operations of the partnership. Since it takes on that role, the General Partner is also the one liable for the debts and obligations of the partnership. Tip: because of this, it's best to make the General Partner a Corporation to give you more protection.
    • Meant for a passive investment style: All of this means that Limited Partnerships are better suited for a passive investment style. They're intended to be a way for others to invest in the business and earn a return on their investment, but without taking an active part in the business. Instead, the General Partner is left to make the business decisions and manage the operations.

    Let's Make a Limited Partnership


  • A Limited Partnership is probably not what you need.

    Limited Partnerships are made up of Limited Partners and at least one General Partner. The Limited Partners are called "limited" because they are not fully liable for the debts and obligations of the partnership. In other words, they have limited liability. But that limited liability is not perfect - there is a big exception.

    The Limited Partners are only protected from liability if they are not taking an active role in the operations of the partnership. If they do, they become fully liable for the partnership's obligations and debts.

    The General Partner is the one in charge of managing the business and operations of the partnership. Since it takes on that role, the General Partner is also the one liable for the debts and obligations of the partnership.

    All of this means that Limited Partnerships are better suited for a passive investment style with investors coming in as Limited Partners and providing money and resources to earn a return on investment, and the General Partner being the one making the business decisions and managing the operations.

    Since your other partners/investors will be, or want to be, actively involved in the business, a Limited Partnership doesn't sound like a good match for you.


  • You could go into business as just you. We call that being a "Sole Proprietor". But, it isn't typically recommended.

    • You're fully liable, so be careful: As a Sole Proprietor, you're in business as well, "you". There's no difference, as the law sees it, between your business and you. So anything that your business is sued for becomes your personal liability. That's why it's hard to recommend a Sole Proprietorship as a business structure. It's usually better to go with a Corporation.
    • Taxes: The benefit of being a Sole Proprietor is that you and your business are the same when it comes to taxes. Unlike a Corporation, which is taxed on its own, your business is not taxed separately because you are the business. But, it also means that you may not get the full range of tax deductions and favourable tax rates that you may get through a Corporation. That's something to figure out with your accountant. From the legal side of the decision equation though, we would say you should think about a Corporation so you're not liable for your business risk.

    Let's Make a Corporation

  • Send a little love to Made It Legal. How many high fives would you give us?

    We'd love to know what you thought of your experience (but it's completely optional, no stress!). Our CEO and team read every response we get here.

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  • Not sure where to start?

    Answer some questions and we'll suggest some contracts and legal docs you should have for your business.

    What kind of business do you have?

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  • What kind of things are you up to with your business right now?

  • What else is important to you right now?

  • Here's what we suggest for you.


  • Starting Up: Corporations and Partnerships

    Starting up a business is exciting. There's also a lot of legal terms thrown at you and it's hard to know where to start. We'll explain the difference between Sole Proprietorships (doing business as "just you"), setting up a Corporation, and forming a legal Partnership, and which one may be best for you.

    Learn more.

  • Software Terms of Service

    App companies, Software as a Service (SaaS) companies, and other tech companies use Software Terms of Service to set out how people can use their software or app. For example, the Terms of Service include your pricing and payment terms and the services and features you offer. They’ll also cover intellectual property protection and data and privacy. The Terms of Service are your contract with your user and they accept your Terms of Service when they sign up with you for access to your software platform or app.

    Learn more.

  • Services Agreement

    A Services Agreement (sometimes also called a Consulting Agreement or an Independent Contractor Agreement) is a contract that outlines what services a person or company will do. Service businesses of all kinds use a Services Agreement for their work – website designers, marketers, consultants, and freelancers are just some examples.

    You can also use a Master Services Agreement format if you’re working on a project with a few different phases. This format uses a Statement of Work that outlines what you will do for each project phase. 

    Learn more.

  • Independent Contractor Agreement

    Sometimes it doesn’t make sense to hire a person as an employee just yet, but you still want to work with them. Maybe you’re not ready to hire employees for now or you might want them to keep the risk of what they do in their own business rather than taking that on yourself. Whatever the reason, you still want to work with them. If that’s the case, you can work with them as an Independent Contractor. We’ll walk you through what you need to put into your contract for their work.

    Learn more.

  • Sales and Services Terms and Conditions

    A professional business has Sales Terms and Conditions covering things like warranty and product support, product delivery, privacy and data use, any software licensing that goes along with your product. Your Sales Terms and Condition should also cover things you may not have thought about, like keeping your rights to copyrights, patents, and branding and limiting your liability if your customer uses your product in strange ways (the “seriously, please don’t do this at home” kind of stuff).

    You can add your Sales and Services Terms and Conditions to an e-commerce order, a sales invoice, or have them signed as a separate document. 

    Learn more.

  • Sales Representative Agreement

    You have great things to sell and now you need great people to help you sell them. That’s what a Sales Representative Agreement helps you with. We’ll get you set up with commission payments, any geographic territory limits you want to include, inventory management, and the other key things you need to think about when hiring or contracting with someone to sell your products.

    Learn more.

  • Employment Contract

    Employing quality people means you should have a quality contract. But where do you start? We’ll walk through all the pieces of an employment contract, like how your employee will be paid. For example, salary or hourly wage, bonuses, and commissions. We’ll also go over how much notice you’ll give if you decide to end their employment. We’ll look at some not so obvious things too, like whether your employee should be allowed to compete with you or approach your clients after they stop working for you and if you’ll have a fixed employment end date or not.

    Learn more.

  • Stock Option and Equity Compensation Plan

    Employing quality people means you should have a quality contract. But where do you start? We’ll walk through all the pieces of an employment contract, like how your employee will be paid. For example, salary or hourly wage, bonuses, and commissions. We’ll also go over how much notice you’ll give if you decide to end their employment. We’ll look at some not so obvious things too, like whether your employee should be allowed to compete with you or approach your clients after they stop working for you and if you’ll have a fixed employment end date or not.

    Learn more.

  • Termination of Employment and Release of Claims

    Things don’t always work out with someone. So if you need to let someone go without cause (e.g. laying off someone because business is slow or because they’re just not the right fit for your company), you’ll have to formally tell them. You should also try to get a release of claims, which means they are giving up any rights to sue you because of the termination.

    Learn more.

  • Confidentiality Agreement

    A Confidentiality Agreement allows you to share your ideas and confidential information and keep it all safe. The person you share your information with promises to keep it confidential and to give it back to you when you ask for it. They also promise not to use your information against you, like using it to compete with you. The other person also agrees to be responsible for any misuse of your information by their employees and representatives.

    You can also include a non-solicitation promise, which means the person you share the information with can’t steal current customers or your employees and contractors.

    Learn more.

  • Letter of Intent

    You’re hustling and working on landing that new client or business deal. You need to start sharing ideas and sketching out what the deal will look like, but you’re not ready to sign the contract just yet. So what do you do to protect your ideas, deal points, and info in the meantime?

    That’s where a Letter of Intent comes in. It’s a “handshake” deal put down on paper, letting you write out your major deal points so you can move ahead. A Letter of Intent includes things like a description of the deal or project, cost and profit sharing, and other key points that will eventually go into a larger, binding agreement (like a Joint Venture Agreement or a Services Agreement). A Letter of Intent can also include confidentiality promises and agreements to not shop the deal (meaning the other person can’t use your offer to shop around for something better). We’ll guide you through it.

    Learn more.

  • Asset Purchase Agreement

    Buying or selling assets is a great way to grow your business. Protect your investment and business with an Asset Purchase Agreement. Whether it’s physical things, like equipment, goods, or inventory, or intangibles like intellectual property or rights to a contract, this is where to start. Check all the legal boxes – payment types, consents, brokers or agents, and even seller and buyer protections. 

    Learn more.

  • Intellectual Property Purchase Agreement

    Businesses often grow by buying important assets from other businesses. With today’s high tech economy, it’s really common for businesses to buy intellectual property from other companies. For example, you could be buying some of another company’s copyrighted materials. Perhaps you’re buying trademarks or patents, too. You could even be buying their tech, like a software platform, code, or an app. If that’s what you’re up to, this agreement is where you should start.

    Learn more.

  • Assumption of Risk and Waiver of Liability

    If you’re a business that offers an experience to your customers then you could really use an Assumption of Risk and Waiver of Liability. For example, rock climbing centres, tours, and gyms have some risk of injury to them. So why use an Assumption of Risk and Waiver of Liability? Well, it outlines the risks for your customer and gets them to agree they’re accepting them before they go ahead. It also has them agree they are limiting your liability and giving up their right to sue you.

    Learn more.

  • Release of Claims

    When something wrong happens someone could threaten you with a lawsuit. For example, maybe someone got hurt at your location. Or maybe they weren’t happy with your work and are threatening to sue now. Whatever the reason, you’ve settled the dispute and you’re wanting to make sure the matter is final and you can’t be sued. That’s what a Release of Claims is for. It’s what we use when a person agrees to give up a legal claim they have (or think they have) against you.

    Learn more.

  • Website Terms of Use

    Your website is a big part of how you connect with people, so there are a lot of legal things to cover in your site’s Terms of Use (sometimes also called “Terms and Conditions”). We’ll look at how you use your site and add terms and conditions for user accounts and any sales you do through the website. If your site allows people to post content, like reviews and comments, we’ll add some rules for that. We’ll also protect your copyright and trademarks, making it clear you own your content and branding. Your Terms of Use will also tell your visitors how they’re allowed to use your site. We’ll limit your liability and set you up with the notices you need to use website visitor data legally to get everything in order.

    Learn more.

  • Privacy Policy

    Privacy is a big topic and it’s been in the news lately, a lot. Having a Privacy Policy protects you in some important ways. It lets people know what kind of information you collect about them and how you use it. Also, it tells people how you might share information with others. Laying that all out in your Privacy Policy protects you from claims you misused someone’s information.

    Having a Privacy Policy also gives your visitors confidence about how you handle their information. Knowing that you will protect their credit card numbers, contact information, and other sensitive information makes you look trustworthy. Internet privacy laws are changing and getting stronger for website visitors, so an up to date Privacy Policy is quite important.

    Learn more.

  • Cookies Policy

    Cookies are at the center of privacy laws around the world. A Cookies Policy will protect your business by making sure you have the legal disclosures you need to stay onside those laws. It will also give your website visitors and customers confidence about how you use cookies. Maybe you just use essential cookies to make your website or platform run properly, like for authentication or to save a person’s shopping cart. Maybe you also use them for advertising, integrating other services on your website or in your app, or for showing specific content. We’ll help you make a Cookies Policy that’s unique to your business.

    Learn more.

  • Unanimous Shareholder Agreement

    A Unanimous Shareholder Agreement, also called a “USA”, is an agreement among all the shareholders of a company. Think of it as the rule book for your business relationship. It says who gets to buy new shares in the company and how you’re allowed to sell your shares. It also says how you’ll vote on important business decisions and what happens if you want to sell the company. We’ll even go over things you may not have thought about, like what happens if someone goes bankrupt or goes through a divorce and someone else claims that person’s shares. All that and more is set out in your Unanimous Shareholder Agreement.

    Learn more.

  • Shareholder Loan Agreement

    Shareholders often loan money to their business, especially in the early stages of your company when you’re just getting started, and that’s what a Shareholder Loan Agreement is for. When you loan money to your company, the idea is the business will repay the loan at some point in the future. We’ll go over all the typical considerations for a shareholder loan, like whether you will charge interest and if the company has to make periodic payments or not.

    Learn more.

  • Share Subscription (Purchase) Agreement

    Found someone that wants to buy into your business? Amazing, it’s a great way to build a team and finance your business. Your legal agreement for selling a piece of your business doesn’t have to be a headache. We’ll go over the key things to put into your agreement when someone buys into your business.

    Learn more.

  • Promissory Note

    Use a Promissory Note to put your simple loan down on paper. A Promissory Note shows that someone has borrowed money from someone else and promises to repay it. You can include details about interest, due dates, and whether the loan will be secured by any of the borrower’s assets. We’ll also help you decide what kind of Promissory Note you need. For example, you can choose to have regular payments or not. You can also decide if you want it to be a revolving loan, meaning the borrower can repay and re-borrow as needed.

    Learn more.

  • Guarantor Contribution Agreement

    You’d think that when several people guarantee a bank loan, lease, or some other obligation, the creditor would have to collect the fair share from each person if the company doesn’t pay the obligation, but that’s not how it works. The creditor can go after one or more of the people as it sees fit, usually going after the ones that actually have the money to pay. A Guarantor Contribution Agreement solves that problem by making an agreement among all the guarantors that they will reimburse anyone who pays more than their fair share.

    Learn more.

  • Joint Venture Agreement

    Entrepreneurs and innovators love to work together, and some great business gets done when they do. But, you may not want to create a formal partnership right now like you would with a new company. That’s where a Joint Venture Agreement comes in. It allows you to set up a project and work with another company, much like a partnership, without creating a whole new company or formal legal partnership.  We’ll outline your project and what each of you will do and be responsible for. Your Joint Venture Agreement will also say how you will vote on major business decisions and how money will go in and out of the venture. We’ll go over these and other big deal points to keep your project and working relationship on the right track.

    Learn more.

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  • This contract recommendation tool is a software tool to suggest legal documents that may be applicable to you. It is not legal advice.

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  • The European Union's General Data Protection Regulation (GDPR) applies to you. When you make your Privacy Policy with Made It Legal, we'll help you to add the disclosures you should have in your policy. We'll also help you to understand if you need to appoint a privacy representative in the European Union or not.
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