Business Formation

There are many significant legal and practical issues to address when starting a business. People need to research their market niche, submit formation paperwork to the state, negotiate contracts with suppliers and protect their unique intellectual property from...

Starting a business with a family member, friend or colleague often begins with excitement and optimism. You trust each other completely and don’t need formal paperwork. A handshake or verbal agreement is all that you need. Unfortunately, many business disputes begin...

Entrepreneurs starting new businesses in Michigan have multiple options for structuring their companies. People running a business on their own may establish a simple sole proprietorship. Those working with partners may create a formal partnership arrangement....

Buying a franchise opportunity offers a fast-track solution for business ownership. People who want to be their own bosses don't need to create a new business concept and start marketing a company to attract customers. They can access a built-in customer base and...

As a business owner, you will form different types of contracts. Examples include employment, supplier, sales, confidentiality, noncompete, licensing and lease agreements. While these contracts are expected to offer protection and clarity, they may fail to do so when...

Amidst the excitement of starting a business, entrepreneurs often overlook one critical detail: personal liability. What happens if the business fails or faces a lawsuit? Without proper legal safeguards, your personal assets, such as savings, home or even your...

Starting a business is an exciting endeavor. You are watching your dream become a reality. As it grows, you will take on more responsibility and make more decisions. Running your business can quickly become overwhelming. Should you consider bringing on a partner? The...

You are passionate about your business idea, a natural feeling for anyone planning to launch a venture. Still, it is important not to let that excitement distract you from building a solid legal foundation. Many entrepreneurs, eager to get started, often skip...

Many doctors, lawyers and accounting professionals build businesses around their work. They often consider forming a limited liability company (LLC) for the advantages it offers. If you’re thinking about going this route, here are three benefits of building an LLC for...

As your business grows, you will face new opportunities and challenges. One crucial step in building a strong foundation is having the right contracts in place. These agreements can protect your business, define relationships and provide clarity in uncertain...