In any organization, corporate governance is the set of processes, practices, policies, laws, and institutions that direct the management, control, and administration of an organization. Corporate governance also includes the interactions among the many stakeholders of the organization and the goals for which the organization is governed. The main stakeholders in a corporation are its shareholders, who have significant interest in its well-being. Other stakeholders include employees, customers, suppliers, creditors, and the community at large

Good corporate governance is important because it helps ensure that a company is well-managed and operated in a manner that benefits all stakeholders. There are a number of different models of corporate governance, but all share some common elements.

These include separation of ownership and control, clear lines of responsibility and accountability, transparency, and effective communication. When these elements are in place, it creates an environment in which companies can thrive and create value for all of their stakeholders.

Corporate governance lawyers help companies comply with all applicable laws and regulations. They work with boards of directors to develop and implement policies that protect shareholders’ interests and advise senior executives on compliance issues.

They also provide tailored advice to public and private companies on matters related to business ethics, employment and labour law, internal investigations, litigation, risk management, professional negligence, business succession planning, and more.

Each of these areas plays an essential role in ensuring that a company is well-run and accountable. We stay up-to-date on developments in the area of corporate governance and provide clear and concise advice that can help our client navigate your corporate governance practices.

Any successful business is built on a foundation of efficient systems. After all, a system is only as strong as its weakest link. Yet, most modern businesses work without effective systems in place to handle their corporate governance matters.

Each year, companies should go through a corporate governance review. This is to ensure that the company is adhering to best practices and that the board of directors is acting in the best interest of the shareholders. It should also evaluate the board’s composition, performance, and independence and assess the company’s risk management procedures and whether they are adequate.

This review is important in ensuring that companies are run responsibly and that shareholders’ interests are safeguarded. We will work with your corporation to perform this annual review and provide practical advice you can put into action.

The Alberta Business Corporations Act requires all corporations must maintain proper corporate records. These include articles, bylaws, and their amendments, a copy of any unanimous shareholder agreements (if applicable) with all amendments, minutes of meetings and resolutions of shareholders, a copy of all notices of appointment and change of directors, a securities register, copies of financial statements and reports, a register of disclosures, and more.

Our corporate governance lawyers are here to help you comply with legal standards and meet the standards of the relevant laws and regulations for Alberta businesses. Your corporate records can be conveniently kept within a minute book, which our law firm can maintain safely, and in compliance with the law.

Whether you need governance advice related to your start-up, ongoing support with maintaining your records, or you are in the process of dissolving your corporation, we have the expertise and experience to help you along your business journey.

Our corporate governance team acts like an extension of your own business. We are on your side to help you protect your best interests. In fact, we offer many flat rates for some of our corporate governance services, so you always know what to expect from our corporate law firm. Get in touch with our team today to learn more about how we can give you practical advice on your corporate governance practices.