Starting a business is an exciting venture full of potential and opportunity. However, behind the thrill of innovation and growth lies a web of legal considerations that can significantly impact success. From choosing the right business structure to drafting strong...
Business & Corporate Law
Why is business valuation crucial for succession planning?
All business owners, to an extent, want to ensure that the business they built continues to thrive long after they step down. However, many are not sure about where to begin. Succession planning is the strategic process of identifying and developing future leaders to...
Understanding the Uniform Commercial Code business transactions
The Uniform Commercial Code (UCC) is an important framework that governs commercial transactions across the United States. The UCC plays an important role in shaping business practices by providing a consistent legal structure for various types of transactions. Key...
What happens when someone accuses a business of fraud?
When allegations of business fraud emerge, it sets off a series of events that impact the venture's operations, image and bottom line. Claims of wrongful or criminal deception can destroy an otherwise thriving enterprise. Such allegations can come from various...
How to turn your company into a franchise
As an entrepreneur, you may have dreams about expanding your business. One way to achieve this is by turning it into a franchise. Doing so allows others to open branches of your venture, using your already successful brand and operational system to get a head start on...
How a commercial lease differs from a residential lease
The Michigan Business Network reported increases in commercial property vacancies for industrial and retail use were down in the first half of 2023 over the last half of 2022. Despite this downturn, commercial real estate can be a great investment. However, it is much...
What is commercial disparagement and how does hurt your business?
One of the many difficulties small business owners in Michigan face is commercial disparagement. This issue involves defamatory remarks or false statements about a business or its products and services. This tort is also sometimes known as business disparagement,...
The importance of corporate bylaws
Business law can be complex in the state of Michigan. Corporate bylaws, for one, can be quite confusing for a layperson to understand. Their purpose may not be clear to most people, even those considering taking their companies public. However, they are absolutely...
How to do your due diligence for mergers and acquisitions
If you're considering a merger or an acquisition in Michigan, you may want to double check that all facts are correct before finalizing a deal. You are more likely to make the right decision when you do your due diligence. Before you merge with or acquire a business,...
Proposed legislation for CRE debt workout tax relief
In Michigan and other states, commercial real estate owners may benefit from new legislation that makes it easier to discharge qualified real estate debt from loan modifications or debt workouts. The House of Representatives has introduced the bill H.R. 5580 to help...