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Elements of a contract
Understanding the elements of a contract is important to enforcing a contract. Because of the disruption a contract breach can cause, it is helpful to be familiar with what makes a contract valid and the legal resources available following a contract dispute. Basic...
Shareholders’ rights in bringing action against a corporation
In Michigan, business operations for corporations are not always completely smooth. Disagreements can arise that lead to discord. Attempts to work them out amicably through negotiations are not always effective. Shareholders are part owners of the corporation and with...
How to choose a business structure
The type of business structure a new business owner or entrepreneur selects can impact all aspects of their business. For that reason, new business owners and entrepreneurs should know how to evaluate different business forms to make the best selection out of all...
The Michigan Securities Act can be a trap for the unwary
The Michigan Securities Act is a far-reaching statute to which many Michigan businesses have never paid significant attention. In the current world, “security” is generally thought to refer to computers and preventing unauthorized persons from entering the computer’s...
What are the costs associated with starting a business?
For many people in Bloomfield Hills, Michigan, and the rest of the country, it is a dream to own a successful business. Many of those people, though, are unsure about the various costs that are associated with starting a business from scratch. Some may be able to...
Is an ADA accommodation causing you an undue hardship?
As a business owner, you’re bound to face employment law challenges from time-to-time. Differing interpretations of the law and even bad blood with employees or former employees can give rise to business litigation. In these instances, you need to know how to protect...
Business planning for the unexpected
Previously unforeseeable events such as lockdowns, natural disasters and cyberattacks are more foreseeable for businesses. Planning and a well-considered business emergency plan are essential for these emergencies and other events such as market downturns. Risks and...
Beware of verbal promises in the small business context
Small businesses usually want to save as much time and money as possible, which sometimes means foregoing legal formalities. In many instances, these business owners also feel like legal documents get in the way of relationship building, which means that some of them...
Is your letter of intent binding?
Every business deal has its potential pitfalls. Mistakes can be made or parties may realize the results of their envisioned deal aren’t going to deliver what they hoped for. What you don’t want is for those problems to land you in expensive and time-consuming...
Limited liability versus insurance
As frequent readers of our blog can attest, we have spoken about choosing the appropriate entity for a business multiple times, including how to avoid personal liability through that business entity selection. But, what about Commercial General Liability insurance?...