|
 |
| Incorporation is a process that grants your organization legal rights and recognition under the law. This legal status allows a co-op to purchase assets and take on debt, and generally makes it easier to raise capital. It also limits the liability of individual co-op members in the event of legal or financial difficulty.
While a group can operate as a co-operative on an informal basis, it cannot use the word ‘co-op' or ‘co-operative' in its name, or be recognized under the law, unless it is formally incorporated.
Read more>
A co-op is incorporated either provincially or federally, and in turn is governed by either a provincial / territorial Co-operatives Act, or the Canada Co-operatives Act. The difference relates mainly to where the co-op will operate: a federally incorporated co-op will carry out operations in at least two provinces, and have fixed offices in more than one province or territory.
|
 |
|
|
|
