Buying a business may seem like a strong investment during early discussions, especially when the seller presents positive numbers and describes stable operations. Based on what you have seen so far, closing may feel like the natural next step. However, due diligence...
Business & Corporate Law
How do noncompete agreements work for Michigan business owners?
You are hiring key employees who drive revenue and growth. Losing them to a competitor could put your business at risk. Noncompete agreements can help protect your clients, secret business information and daily operations. In Michigan, these agreements are mostly...
The hidden risks of using AI and DIY for business formation
New owners often rush to start their companies with automated tools or basic templates. These platforms promise speed and low costs but they usually fail to protect your long-term interests. Using an algorithm or a generic form creates a false sense of security that...
Business transaction support: Prioritize experience, not convenience
When business owners prepare for a significant transaction, whether it involves buying or selling a company, restructuring ownership, securing investment or negotiating complex contracts, choosing legal counsel is one of the most consequential decisions they will...
Should you use a partnership structure for your business?
There are a lot of decisions to make when starting a business. Choosing a location, hiring talent, developing a marketing plan and securing supply chain contracts are amongst them. However, there’s another step you have to take early on if you want to ensure you...
4 key elements of a contract every business owner should know
As a business owner, you shouldn’t just shake hands on a business deal and assume you’re good to go. In Michigan, contracts must meet very specific requirements to be legally enforceable. Understanding what these elements are can save your business from potential...
Prepare for real estate costs of a brick-and-mortar business
Michigan businesses that can sell their product or services online are increasingly confronted with the difficult decision of whether to have a brick-and-mortar location or to simply be an online entity. This hinges on many factors such as what is being offered, if...
Structuring loans for new business development projects
Launching a new business development project often requires significant capital, and many entrepreneurs turn to loans to make their vision a reality. It is important to understand, however, that not all loans are created equal. How financing is structured can...
How to safeguard your business from contract breaches
Running a small business comes with countless daily challenges, but few threats can derail your operation like contract disputes. When a client, vendor or partner fails to honor their agreements, it can create ripple effects throughout your company. These disputes can...
How can companies prevent IP theft in the digital world?
Businesses use intellectual property (IP) to stay ahead of competitors. IP includes copyrights, trademarks, patents, and trade secrets. These protect creative work, brand names, inventions, and private business information. In today’s digital world, it is easier than...