The event I chose to attend was called “To Incorporate or Not to Incorporate Your Business? That is the question”. The webinar was held by Score Live Webinars and hosted by an attorney named Kelly Keller. The link to this webinar was:
This webinar focused on advice for someone interested in creating a business but don’t know if they should go through legal avenues to be established as an entity. The presenter’s advice came from a legal perspective, which is something that interested me because written legal content can be so dry and boring to read through. Another reason I wanted to attend this event was because I would have never known where to begin when starting a business – I don’t necessarily have a business to open, but understanding the steps and processes to do so will be helpful as I move forward in my career. It’s also relevant information as I progress in working WITH small businesses who have recently incorporated. Understanding legal jargon around ownership and liability is also advantageous.
This event provided me with a good understanding of why or why not an individual should “incorporate” their business. I learned that incorporating a business means going through legal avenues to establish the business as a legal entity – to not incorporate means the individual could still sell their service or product, but they are liable for everything. I learned that establishing a business as an entity can protect the individual from PERSONAL liability, but if the individual decides to continue operating without incorporating, they are personally liable for any debts or payments.
The presenter provided a great anecdote to explain how incorporating a business can protect the business owner: “You’re jumping inside a big box, and the box shields you from any of the liability coming back”.
I would love to attend a similar event in the future that focuses on Canadian businesses. The presenter lived in Pennsylvania and touched on requirements for a few different states. I didn’t really consider that the legal processes might be different in Canada until she began describing differences between states within the same country. Generally, I see benefit in understanding legality and liability, even if it’s not something that might impact me at the moment. As silly as it sounds, it could be easy for a business to break a law because they didn’t know what was required and what was not.
At the end of the presentation, the floor was open for questions from other attendees of the webinar. The attendees were small business owners looking for free legal advice. Questions were centred around specific concepts – for example, someone asked if they need a member to be included in their limited liability corporation, or if they can proceed into establishment on their own. Unfortunately the webinar did not show the list of attendees and the questions were not shared with the entire group – only the presenter was able to view and respond to them. I would have liked a webinar that was was more interactive with the viewers so I could have learned more about who they were and why they were attending, so I’m not sure I would attend another online event using this service.
All in all, it was useful knowledge that I enjoyed learning more about.