Forming a “Limited” Corporation
The word “limited” at the end of a Canadian corporation’s name implies that liability of the corporation’s shareholders is limited to the money they paid to buy the shares. By contrast, ownership by sole proprietor or partnership carries unlimited personal legal responsibility for debts incurred by the business.
How is a limited corporation formed ?
To form a limited corporation, you must provide a corporate name and address, describe the structure and identify the type of corporation and provide director information. The following information is provided to assist you in this process.
There are different types of names. You can have a “named” name, such as ABC Holdings Ltd., or a “numbered” name, such as 1234567 Alberta Ltd.
Read more on servicealberta.ca