Every corporation incorporated or continued in Ontario on or after December 10, 2016 is now required to prepare and maintain at its registered office a register of its ownership interests in land in Ontario. See the slide for more details.
Highly respected legal publisher Chambers and Partners has published the 2024 edition of its Corporate M&A Global Practice Guide. We are thrilled to be the exclusive author of the Canadian M&A section of this prestigious guide for the fourth year running.
SkyLaw is thrilled to announce that we have once again been selected to receive Canadian Lawyer's Top 10 Corporate Law Firms Award! We are honoured to be recognized by our peers for SkyLaw's "overall excellence, client satisfaction, and the high calibre of lawyers and leadership."
SkyLaw’s Andrea Hill was interviewed for Canadian Lawyer's article announcing the winners, and here is an excerpt.
We were honoured to be invited back this year to be the exclusive author of two articles on Canadian M&A for the highly respected legal publisher Chambers and Partners.
Chambers and Partners has published the latest edition of its Corporate M&A 2023 Global Practice Guide, and we are delighted to once again be included in the Canadian M&A section of this comprehensive publication.
This year, the comprehensive guide covers 55 jurisdictions. With Frank Aquila from Sullivan & Cromwell LLP acting as Contributing Editor, the guide provides the latest legal information on acquiring a company, antitrust regulations, restrictions on foreign investments, stakebuilding, negotiation, mandatory offer thresholds, conditions for a takeover offer, squeeze-out mechanisms, disclosure, duties of directors, defensive measures and shareholder activism.
The entire guide is available to view online at no charge, and it has a handy “Compare locations” tab for comparing selected topics by jurisdiction. We welcome you to take a moment to visit the links and enjoy all of the available resources.
The complete Chambers Corporate M&A 2023 Global Practice Guide can be found at: https://practiceguides.chambers.com/practice-guides/corporate-ma-2023.
SkyLaw's submission to the Ontario Securities Commission regarding the proposed plan of arrangement involving Turquoise Hill Resources Ltd., Rio Tinto International Holdings Limited and Rio Tinto plc, pursuant to the provisions of the Business Corporations Act (Yukon).
We were honoured to be invited back this year to be the exclusive author of two articles on Canadian M&A for the highly respected legal publisher Chambers and Partners.
Chambers and Partners has published the latest edition of its Corporate M&A 2022 Global Practice Guide, and we are delighted to once again be included in the Canadian M&A section of this comprehensive publication.
With Frank Aquila from Sullivan & Cromwell LLP acting as Contributing Editor, the guide provides the latest legal information on acquiring a company, antitrust regulations, restrictions on foreign investments, stakebuilding, negotiation, mandatory offer thresholds, conditions for a takeover offer, squeeze-out mechanisms, disclosure, duties of directors, defensive measures and shareholder activism.
The entire guide is available online without charge and covers an impressive 61 jurisdictions. In the online guide, the "Compare locations" tab is a handy feature that allows you to compare specific topics in each of the various jurisdictions.
The complete Chambers Corporate M&A 2022 Global Practice Guide can be found at: https://practiceguides.chambers.com/practice-guides/corporate-ma-2022.
SkyLaw is thrilled to be selected to receive a Top Corporate Law Boutiques award by Canadian Lawyer!
We are honoured to be included among such an incredible list of top 10 firms.
SkyLaw was honoured to be invited to be the exclusive author of two articles on Canadian M&A for the highly respected legal publisher Chambers and Partners.
We are very happy to announce that the Chambers Corporate M&A 2021 Global Practice Guide is now available to view online without charge. With Frank Aquila from Sullivan & Cromwell LLP acting as Contributing Editor, the guide covers an impressive 59 jurisdictions.
These are the sections contributed by SkyLaw:
Law and Practice - Pg. 1 to 20
Trends and Developments - Pg. 23 to 27
Author Bios and Firm Info - Pg. 21 to 22, Pg. 28-29
The complete Chambers Corporate M&A 2021 Global Practice Guide can be found at: https://practiceguides.chambers.com/practice-guides/corporate-ma-2021.
Highly respected legal publisher Chambers and Partners has published the 2024 edition of its Corporate M&A Global Practice Guide. We are thrilled to be the exclusive author of the Canadian M&A section of this prestigious guide for the fourth year running.
SkyLaw is thrilled to announce that we have once again been selected to receive Canadian Lawyer's Top 10 Corporate Law Firms Award! We are honoured to be recognized by our peers for SkyLaw's "overall excellence, client satisfaction, and the high calibre of lawyers and leadership."
SkyLaw’s Andrea Hill was interviewed for Canadian Lawyer's article announcing the winners, and here is an excerpt.
We were honoured to be invited back this year to be the exclusive author of two articles on Canadian M&A for the highly respected legal publisher Chambers and Partners.
Chambers and Partners has published the latest edition of its Corporate M&A 2023 Global Practice Guide, and we are delighted to once again be included in the Canadian M&A section of this comprehensive publication.
This year, the comprehensive guide covers 55 jurisdictions. With Frank Aquila from Sullivan & Cromwell LLP acting as Contributing Editor, the guide provides the latest legal information on acquiring a company, antitrust regulations, restrictions on foreign investments, stakebuilding, negotiation, mandatory offer thresholds, conditions for a takeover offer, squeeze-out mechanisms, disclosure, duties of directors, defensive measures and shareholder activism.
The entire guide is available to view online at no charge, and it has a handy “Compare locations” tab for comparing selected topics by jurisdiction. We welcome you to take a moment to visit the links and enjoy all of the available resources.
The complete Chambers Corporate M&A 2023 Global Practice Guide can be found at: https://practiceguides.chambers.com/practice-guides/corporate-ma-2023.
SkyLaw's submission to the Ontario Securities Commission regarding the proposed plan of arrangement involving Turquoise Hill Resources Ltd., Rio Tinto International Holdings Limited and Rio Tinto plc, pursuant to the provisions of the Business Corporations Act (Yukon).
We were honoured to be invited back this year to be the exclusive author of two articles on Canadian M&A for the highly respected legal publisher Chambers and Partners.
Chambers and Partners has published the latest edition of its Corporate M&A 2022 Global Practice Guide, and we are delighted to once again be included in the Canadian M&A section of this comprehensive publication.
With Frank Aquila from Sullivan & Cromwell LLP acting as Contributing Editor, the guide provides the latest legal information on acquiring a company, antitrust regulations, restrictions on foreign investments, stakebuilding, negotiation, mandatory offer thresholds, conditions for a takeover offer, squeeze-out mechanisms, disclosure, duties of directors, defensive measures and shareholder activism.
The entire guide is available online without charge and covers an impressive 61 jurisdictions. In the online guide, the "Compare locations" tab is a handy feature that allows you to compare specific topics in each of the various jurisdictions.
The complete Chambers Corporate M&A 2022 Global Practice Guide can be found at: https://practiceguides.chambers.com/practice-guides/corporate-ma-2022.
SkyLaw is thrilled to be selected to receive a Top Corporate Law Boutiques award by Canadian Lawyer!
We are honoured to be included among such an incredible list of top 10 firms.
SkyLaw was honoured to be invited to be the exclusive author of two articles on Canadian M&A for the highly respected legal publisher Chambers and Partners.
We are very happy to announce that the Chambers Corporate M&A 2021 Global Practice Guide is now available to view online without charge. With Frank Aquila from Sullivan & Cromwell LLP acting as Contributing Editor, the guide covers an impressive 59 jurisdictions.
These are the sections contributed by SkyLaw:
Law and Practice - Pg. 1 to 20
Trends and Developments - Pg. 23 to 27
Author Bios and Firm Info - Pg. 21 to 22, Pg. 28-29
The complete Chambers Corporate M&A 2021 Global Practice Guide can be found at: https://practiceguides.chambers.com/practice-guides/corporate-ma-2021.
The team celebrated SkyLaw’s 10-year anniversary on October 27, 2020. To help commemorate this momentous occasion, we put together a special newsletter to highlight some of the firm's changes and accomplishments over the years, to showcase some of our fondest memories, and to honour and thank the many amazing people who have supported SkyLaw along the way. We hope you enjoy reading it as much as we enjoyed putting it together!
This fall, one of our lawyers, Diana Nicholls Mutter was invited to provide a guest lecture for a securities law course at Western Law. The lecture focused on corporate governance disclosure, in particular the underrepresentation of women on boards and the securities regulation that we have in Canada aimed at addressing this issue. The content of the presentation was primarily based on the research that Diana conducted while completing her thesis for her LLM. We have included the slides of this presentation here.
The document summarizes a roundtable discussion on understanding the fiduciary duties of directors held at the Governance Professionals of Canada 21st Annual Corporate Governance Conference in Quebec City from August 18-21, 2019. The roundtable addressed the legal framework of directors' duties, case studies on how boards have managed these duties, and considerations for directors to help discharge their responsibilities. Recent amendments to the Canada Business Corporations Act were also discussed, codifying directors' ability to consider stakeholder interests beyond just shareholders.
Paving the Path to Success: Creating a Customized Governance Framework for New Entities and Emerging Companies
Presented by:
Kevin West, Corporate Lawyer
Founder of SkyLaw Professional Corporation
Deborah Rosati, FCPA, FCA, ICD.D
Corporate Director
Founder & CEO of Women Get On Board
Governance Professionals of Canada
20th Annual Corporate Governance Conference
The Victoria Conference Centre
Victoria, BC
August 21, 2018
This document celebrates seven years of SkyLaw, a Canadian corporate law boutique. It provides various statistics about the law firm over the years, including being named one of Canada's top 10 corporate law boutiques, having 10 full-time team members, maintaining minute books for 87 clients, closing 5 major M&A deals in 2016, and expanding to occupy an entire floor in their building in 2017. The document uses statistics to highlight SkyLaw's growth and accomplishments over its first seven years.
Social media platforms such as Facebook, Twitter and Instagram are becoming an increasingly important way for reporting issuers to communicate with their shareholders, stakeholders and potential customers. Recently, the Canadian Securities Administrator (the “CSA”) published Staff Notice 51-348 – Staff’s Review of Social Media Used by Reporting Issuers (the “Staff Notice”), a review conducted by the regulatory authorities in Alberta, Ontario and Quebec of 111 non-investment fund reporting issuers in respect of compliance with the requirements of National Policy 51-201 (“NP 51-201”) and National Instrument 51-102 (“NI 51-102”).
Of the issuers reviewed by the CSA, 72% were actively using at least one social media website. Of those, 25% either filed clarifying disclosure, edited or removed disclosure, or made prospective commitments to improve disclosure based on the CSA’s review. Demonstrating how impactful such disclosure practices can be on capital markets, in the case of four such issuers, the CSA estimated that the non-compliant disclosure resulted in share price changes averaging 26% of the value of their shares.
These are the main concerns the CSA identified, and tips to help steer clear of them.
SkyLaw's Kevin West was pleased to be invited to speak once again this year at the annual conference for Governance Professionals of Canada (formerly CSCS) in Whistler, British Columbia on the role of the board of directors in M&A transactions and other special situations. Kevin participated on a panel with Deborah Rosati, an experienced corporate director and founder of Women Get On Board, and Thierry Keable, the General Counsel for Whistler Blackcomb.
This document summarizes an event hosted by SkyLaw Professional Corporation on June 22, 2016 about demystifying charities, not-for-profits, and social enterprises. SkyLaw is a boutique law firm that provides legal services to companies and organizations. The event featured presentations by lawyers from SkyLaw on legal structures for non-profits and answered audience questions.
SkyLaw is honoured to be named one of Canada's Top 10 Corporate Law Boutiques by the award-winning Canadian Lawyer Magazine!
Please enjoy this excerpt from the May 2016 issue.
On May 9, 2016, certain amendments to the take-over bid rules in Canada are expected to come into force which are intended to rebalance the current dynamic among bidders, target boards and target shareholders in the context of hostile take-over bids.
On February 25, 2016, the Canadian Securities Administrators published the text of anticipated amendments to the early warning system which are expected to come into force as early as May 9, 2016. Investors with outstanding early warning reports should take note of these amendments, as they will have implications for their ongoing reporting obligations.
What's the Business Reason for Going to the Cloud?
- The perception of the cloud in legal application
- How to work the cloud into the firm structure
- Risk vs. reward in using cloud technology
Presented by Kevin West at the LegalTech Toronto Conference, Metro Toronto Convention Centre, September 25 - 25, 2015.
Presentation Handout, "Enhancing Disclosure with Plain Language".
Canadian Society of Corporate Secretaries
17th Annual Corporate Governance Conference
August 2015
PowerPoint Presentation for the Canadian Society of Corporate Secretaries' 17th Annual Corporate Governance Conference, August 2015.
Presented by:
Kevin West
Founder | SkyLaw Professional Corporation
Catherine Gordon
President and Founder | Simple Logic Inc.
John Truzzolino
Managing Director, Business Development | RR Donnelly
"Getting the Deal Done: Ethics and Due Diligence in Cross-border Transactions in the US, South America and China" covers some of our favourite topics – cross-border M&A, working with local counsel and service providers, and managing complex transactions. The overarching theme is to plan, plan, plan.
SkyLaw's Kevin West had the pleasure of attending and presenting at the 16th Annual Corporate Governance Conference in Banff, Alberta presented by the Canadian Society of Corporate Secretaries (CSCS).
CSCS brings together a high-powered mix of corporate secretaries, general counsel, directors and other professionals involved in corporate governance.
The topic of the presentation is “Preparing for an M&A Transaction and Other Special Situations”. It provides insight into the process, along with some stories, to highlight the importance of planning, planning, planning.
The use of cloud computing in the practice of law. Topics discussed are the advantages and disadvantages of cloud technology, key legal concerns, perspectives of law societies, and various practice management tips.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
The team celebrated SkyLaw’s 10-year anniversary on October 27, 2020. To help commemorate this momentous occasion, we put together a special newsletter to highlight some of the firm's changes and accomplishments over the years, to showcase some of our fondest memories, and to honour and thank the many amazing people who have supported SkyLaw along the way. We hope you enjoy reading it as much as we enjoyed putting it together!
This fall, one of our lawyers, Diana Nicholls Mutter was invited to provide a guest lecture for a securities law course at Western Law. The lecture focused on corporate governance disclosure, in particular the underrepresentation of women on boards and the securities regulation that we have in Canada aimed at addressing this issue. The content of the presentation was primarily based on the research that Diana conducted while completing her thesis for her LLM. We have included the slides of this presentation here.
The document summarizes a roundtable discussion on understanding the fiduciary duties of directors held at the Governance Professionals of Canada 21st Annual Corporate Governance Conference in Quebec City from August 18-21, 2019. The roundtable addressed the legal framework of directors' duties, case studies on how boards have managed these duties, and considerations for directors to help discharge their responsibilities. Recent amendments to the Canada Business Corporations Act were also discussed, codifying directors' ability to consider stakeholder interests beyond just shareholders.
Paving the Path to Success: Creating a Customized Governance Framework for New Entities and Emerging Companies
Presented by:
Kevin West, Corporate Lawyer
Founder of SkyLaw Professional Corporation
Deborah Rosati, FCPA, FCA, ICD.D
Corporate Director
Founder & CEO of Women Get On Board
Governance Professionals of Canada
20th Annual Corporate Governance Conference
The Victoria Conference Centre
Victoria, BC
August 21, 2018
This document celebrates seven years of SkyLaw, a Canadian corporate law boutique. It provides various statistics about the law firm over the years, including being named one of Canada's top 10 corporate law boutiques, having 10 full-time team members, maintaining minute books for 87 clients, closing 5 major M&A deals in 2016, and expanding to occupy an entire floor in their building in 2017. The document uses statistics to highlight SkyLaw's growth and accomplishments over its first seven years.
Social media platforms such as Facebook, Twitter and Instagram are becoming an increasingly important way for reporting issuers to communicate with their shareholders, stakeholders and potential customers. Recently, the Canadian Securities Administrator (the “CSA”) published Staff Notice 51-348 – Staff’s Review of Social Media Used by Reporting Issuers (the “Staff Notice”), a review conducted by the regulatory authorities in Alberta, Ontario and Quebec of 111 non-investment fund reporting issuers in respect of compliance with the requirements of National Policy 51-201 (“NP 51-201”) and National Instrument 51-102 (“NI 51-102”).
Of the issuers reviewed by the CSA, 72% were actively using at least one social media website. Of those, 25% either filed clarifying disclosure, edited or removed disclosure, or made prospective commitments to improve disclosure based on the CSA’s review. Demonstrating how impactful such disclosure practices can be on capital markets, in the case of four such issuers, the CSA estimated that the non-compliant disclosure resulted in share price changes averaging 26% of the value of their shares.
These are the main concerns the CSA identified, and tips to help steer clear of them.
SkyLaw's Kevin West was pleased to be invited to speak once again this year at the annual conference for Governance Professionals of Canada (formerly CSCS) in Whistler, British Columbia on the role of the board of directors in M&A transactions and other special situations. Kevin participated on a panel with Deborah Rosati, an experienced corporate director and founder of Women Get On Board, and Thierry Keable, the General Counsel for Whistler Blackcomb.
This document summarizes an event hosted by SkyLaw Professional Corporation on June 22, 2016 about demystifying charities, not-for-profits, and social enterprises. SkyLaw is a boutique law firm that provides legal services to companies and organizations. The event featured presentations by lawyers from SkyLaw on legal structures for non-profits and answered audience questions.
SkyLaw is honoured to be named one of Canada's Top 10 Corporate Law Boutiques by the award-winning Canadian Lawyer Magazine!
Please enjoy this excerpt from the May 2016 issue.
On May 9, 2016, certain amendments to the take-over bid rules in Canada are expected to come into force which are intended to rebalance the current dynamic among bidders, target boards and target shareholders in the context of hostile take-over bids.
On February 25, 2016, the Canadian Securities Administrators published the text of anticipated amendments to the early warning system which are expected to come into force as early as May 9, 2016. Investors with outstanding early warning reports should take note of these amendments, as they will have implications for their ongoing reporting obligations.
What's the Business Reason for Going to the Cloud?
- The perception of the cloud in legal application
- How to work the cloud into the firm structure
- Risk vs. reward in using cloud technology
Presented by Kevin West at the LegalTech Toronto Conference, Metro Toronto Convention Centre, September 25 - 25, 2015.
Presentation Handout, "Enhancing Disclosure with Plain Language".
Canadian Society of Corporate Secretaries
17th Annual Corporate Governance Conference
August 2015
PowerPoint Presentation for the Canadian Society of Corporate Secretaries' 17th Annual Corporate Governance Conference, August 2015.
Presented by:
Kevin West
Founder | SkyLaw Professional Corporation
Catherine Gordon
President and Founder | Simple Logic Inc.
John Truzzolino
Managing Director, Business Development | RR Donnelly
"Getting the Deal Done: Ethics and Due Diligence in Cross-border Transactions in the US, South America and China" covers some of our favourite topics – cross-border M&A, working with local counsel and service providers, and managing complex transactions. The overarching theme is to plan, plan, plan.
SkyLaw's Kevin West had the pleasure of attending and presenting at the 16th Annual Corporate Governance Conference in Banff, Alberta presented by the Canadian Society of Corporate Secretaries (CSCS).
CSCS brings together a high-powered mix of corporate secretaries, general counsel, directors and other professionals involved in corporate governance.
The topic of the presentation is “Preparing for an M&A Transaction and Other Special Situations”. It provides insight into the process, along with some stories, to highlight the importance of planning, planning, planning.
The use of cloud computing in the practice of law. Topics discussed are the advantages and disadvantages of cloud technology, key legal concerns, perspectives of law societies, and various practice management tips.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Matthew Professional CV experienced Government LiaisonMattGardner52
As an experienced Government Liaison, I have demonstrated expertise in Corporate Governance. My skill set includes senior-level management in Contract Management, Legal Support, and Diplomatic Relations. I have also gained proficiency as a Corporate Liaison, utilizing my strong background in accounting, finance, and legal, with a Bachelor's degree (B.A.) from California State University. My Administrative Skills further strengthen my ability to contribute to the growth and success of any organization.
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
San Remo Manual on International Law Applicable to Armed Conflict at Sea
Ontario Corporations Now Required to Maintain Register of Ownership Interests in Land in Ontario
1. SkyLaw Professional Corporation Tel: 1.416.759.5299 3 Bridgman Avenue, Suite 204
Toronto, ON Canada M5R 3V4
www.skylaw.ca
Fax: 1.866.832.0623
Email: andrew.cooley @skylaw.ca
Ontario Corporations Now Required to Maintain Register of
Ownership Interests in Land in Ontario
Every corporation incorporated or continued in Ontario on or after December 10, 2016 is now
required to prepare and maintain at its registered office a register of its ownership interests in
land in Ontario. Ontario corporations that existed before December 10, 2016 have until
December 10, 2018 to comply with these new requirements.
The register must:
• identify each property; and
• show the date the corporation acquired the property and, if applicable, the date the
corporation disposed of it.
In addition, a corporation is required to keep with the register a copy of any deeds, transfers or
similar documents that contain any of the following with respect to each property listed in the
register:
• municipal address, if any;
• the registry or land titles division and the property identifier number;
• the legal description; and
• the assessment roll number, if any.
Unlike other corporate records which may be kept at any place in Ontario designated by the
directors, the register and supporting document must be kept at the registered office of the
corporation. Corporations may choose to keep the register and supporting documents, or copies
of these documents, with their minute books.
The requirements do not apply to land located outside of Ontario or to non-Ontario corprations
that own land in Ontario.
Similar requirements apply to Ontario not-for-profit corporations.