Legal status
Legal status is the position a person or entity holds under the law, which determines its rights, capacity and obligations. For a business, it usually refers to its form, such as a sole proprietorship, partnership or company, and whether it is in good standing with the corporate registry.
How BC law treats it
A BC company incorporated under the Business Corporations Act, SBC 2002 c 57 (BCBCA) has the capacity of an individual and is separate from its shareholders. A company that fails to file annual reports can be dissolved by the Registrar and lose its capacity to act until restored.
What it means for your business
A BC business should keep its registry filings current to remain in good standing.
Risks and common mistakes
A dissolved company's property can vest in the government, and contracts signed while dissolved may be challenged.
Browse the full Fulcrum Law Dictionary for related terms.
General information about British Columbia and Canadian law, current to October 2026. It is not legal advice.
