Types of Business Registrations

Sole Proprietorships
Sole proprietorships are the most common and simple form of business structure. Under this type of business structure, one
person owns the assets of the business and is also personally responsible for its liabilities. The owner can employ others to
help in operating the business, but the owner usually manages the business himself or herself. There are few formal legal
requirements to establish sole proprietorships, and they are much cheaper to create than corporations. A Manitoba sole
proprietorship must have its registered business address located within the Province of Manitoba.

General Partnerships
Partnerships are similar to sole proprietorships in that the owners of the business personally own all the assets of the
partnership and are personally responsible for the liabilities of the partnership. The basic difference between a partnership and
sole proprietorship is that a partnership has more than one owner (referred to as a partner). The partners can employ others
to help in operating the business, but they usually have a hand in the operation or management of the business. There are
few formal legal requirements to establish partnerships, and they are much cheaper to create than corporations. A Manitoba
partnership must have its registered business address located within the Province of Manitoba.

Trade Names

Trade names are business name registrations for corporations. Any corporation that identifies itself to the public under a name
other than its full corporate name must register that name as a trade name (also known as a business name, operating name,
fictitious name, trade style, and dba "doing business as" name). Both the trade name and the underlying corporate name
must be identified on all contracts and other legal documents. Trade names are commonly used where a corporation operates
using several business names for different divisions of its business.
https://www.newbusinessnow.com/manitoba-business-registration.php

Limited Partnership
A Limited Partnership is composed of one or more general partners and one or more limited partners. The general partners
manage the business and share fully in its profits and losses. Limited partners share in the profits of the business, but their
losses are limited to the extent of their investment. Limited partners are usually not involved in the day-to-day operations of the
business.

Limited Liability Partnership (LLP)

A Limited Liability Partnership (LLP) is similar to a General Partnership except that normally a partner doesnt have personal
liability for the negligence of another partner. This business structure is used most by professionals, such as accountants and
lawyers.

Limited Liability Limited Partnership (LLLP)

A Limited Liability Limited Partnership is a Limited Partnership that chooses to become an LLLP by including a statement to
that effect in its certificate of limited partnership. This type of business structure may shield general partners from liability for
obligations of the LLLP.

Corporation
A Corporation is a more complex business structure. A corporation has certain rights, privileges, and liabilities beyond those of
an individual. Doing business as a corporation may yield tax or financial benefits, but these can be offset by other
considerations, such as increased licensing fees or decreased personal control. Corporations may be formed for profit or
nonprofit purposes.

 Limited Liability Company (LLC)

A Limited Liability Company (LLC) is formed by 1 or more individuals or entities through a special written agreement. The
agreement details the organization of the LLC, including provisions for management, assignability of interests, and distribution
of profits and losses. LLCs are permitted to engage in any lawful, for-profit business or activity other than banking or insurance.
For further info., a good reference for these types of owner ships would be the following web pages:
http://www.theglobeandmail.com/report-on-business/small-business/sb-money/business-funding/inc-or-ltd-which-soundsbetter/article4258956/
http://sbinfocanada.about.com/od/formsofbusinessownership/a/formbusinesshub.htm
http://www.referenceforbusiness.com/encyclopedia/Oli-Per/Partnerships.html

Reserving a name In Manitoba

To register a business name or incorporate your first step is to fill out a Name Reservation Form and file it with the province's
Company Office or you can submit it online at (http://direct.gov.mb.ca/coohtml/html/internet/en/coo.html). The fee for this process
(as of April 2007) is $40.
The name you select must have a distinctive element (such as a coined name, location, or personal name), a descriptive element
(such as the type of services offered) and if it will be a corporation it must end with a legal element (such as Inc., Ltd. or Corp.). For
example, Zoobilee Pet Shop, where Zoobilee is a distinctive, invented name and Pet Shop is the descriptive element, would be a
valid name as long as it was not objectionable.
http://www.canadaone.com/ezine/sept03/register_manitoba.html
http://www.companiesoffice.gov.mb.ca/forms.html