Glossary

• Author: Michelle Roy McSpurren/Rosemary Bocska
• Pages: 239-241

239 239

Glossary

advertising efforts to draw attent ion to a product or a business

in order to encourage sales, gen erally through paid announce-

ments in various media

affiliation occurs when th e licensee regularly joins with t he

affiliated (non-licensee) entit y in the delivery or promotion and

delivery of the ser vices of that licensee and of the affiliated entity

articles of inc orporation a document filed with the approp ri-

ate government authority that provides for incorporation as of

right, provided that the required s teps are followed

assessment an application process in w hich an assessment

officer reviews a bill from a so licitor or legal services provider to

determine whether it ought to be re duced

asset item of value owned by a co mpany or person, including

tangible items such as buildings and equ ipment, and intangible

ones such as telephone number s and licences

asset sale a sale in which a bus iness’s tangible assets are s old,

but not its name, corporate identit y, work in progress, and goodwill

associate a licensee who is either employed by a firm to provid e

legal services or wh o does so due to a contractual arrang ement

with the firm; or a non-licens ee in a MDP

bankruptcy a legal process go verned by the Bankruptcy and

Insolvency Act for a per son who can no longer pay bac k debt;

the person who owes the d ebt assigns all assets —with some

exceptions—to a licensed ins olvency trustee who sells it or uses it

to help pay the debt to the creditors

billable time tim e that is charged to a client

budget a list of anticipated income and expe nses for a defined

future period

business communication communication for the purpose

of carrying out busines s activities; includes marketing, customer

relations, branding, community engagement, advertising, pub-

licrelations, and employee management

business plan a document that contains a summary of a busi-

ness’s operational and financial obj ectives, along with d etailed

plans and budgets that expla in how the objectives will be achieved

cash flow movement of mon ey into and out of a business

certificate of authorization a certificate issued by the L SO

that permits a professional co rporation to provide legal services

checklist a list of things to be done or step s to be taken in

relation to a file or other aspect of business management

client a perso n who (a) consults a paralegal and on whose

behalf the paralegal provide s or agrees to provide legal services,

or (b) having consulted the paralegal, reas onably concludes that

the paralegal has agreed to ac t on their behalf; includes a client of

the firm of which the paralegal is a par tner or associate, whether

or not the paralegal handles the cli ent’s work (Rule 1.02)

client profile data relating to the dem ographics of a business’s

potential clients—such as their geographic location, age, income

level, gender, ethnicity, and education level—that allows business

owners to assess the ne eds of their target market

client property propert y owned by the client, including money

or other valuables, physical ite ms, and information (Guideline 10),

as well as retainer funds and any other funds o r property given to

a paralegal for safekeeping

competent paralegal a paralegal who has and applies the

relevant skills, attributes, an d values appropriate to each matte r

undertaken on a client’s behal f (Rule 3.01(4))

confidential information any information that paralegals

gain in the course of their professio nal relationship with a client;

paralegals have a duty to hold all such info rmation in strict con-

fidence indefinitely and may not discl ose it to any other person,

unless authorized to do so by the cli ent or required to do so by

law (Rule3.03(1))

conflict-checking system an elec tronic system used by a para-

legal/firm to check fo r conflicts of interest prior to a ccepting a

client’s matter

conflict of interest th e existence of a substantial risk that

a paralegal’s loyalty to or represent ation of a client would be

materially and adversely a ffected by the paralegal’s own interest

or the paralegal’s duties to another cli ent, a former client, or a

third person; the risk must be mo re than a mere possibility; there

must be a genuine, serious risk to the dut y of loyalty or to client

representation arising from the retainer

contingency fee a fee paid based on a percentage of the final

settlement or judgment, and therefore payable only if the client

is successful

corporation a business entity that has a legal ex istence separ-

ate and apart from that of the indivi duals who created it or who

operate it

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