Liability Protection for an MBL:

When an MBL is owned by an individual (sole proprietorship) or two or more individuals (general partnership), it does not provide liability protection. However, if the MBL is owned by a corporation (Trade Name/DBA/Operating Name) then it provides liability protection through the corporation. If you want to register a business that has features of limited liability protection, you must incorporate it.

MBL provides the following:

1. Registration is valid for a 5 year period
2. The ability to operate a business name within Ontario
3. To open a Bank account, tax accounts, obtain cheques, business cards
4. Advertise and promote the business name

The Master Business Licence does not provide the following:

1. Name protection against other business names in Ontario
2. Corporate tax benefits
3. Continual registration
4. Flexibility to make changes to the registration