An amalgamation is a formal process that combines two or more corporations into one corporation that retains all the assets and liabilities of the amalgamating corporations. The amalgamated corporation is a new corporation, but for the most part, has all of the rights and obligations of its predecessor corporations. Amalgamations are undertaken for corporate or tax reasons. For example, an amalgamation is sometimes used as part of the transaction related to the purchase of a business and frequently as part of a reorganization. In preparation for an amalgamation, among other things, it is necessary to review contracts, leases, licences (both government and private sector), mortgages, security documents, and agreements with suppliers, customers, and employees to determine whether notice or consent is required.