One of the very useful aspects of the limited liability act and the Michigan business corporations act is that it provides protection for a business owner’s personal assets if the company defaults on its loans or otherwise has a judgment against it. This is not…
Occasionally a client comes to me and tells me they have an LLC or a corporation with their friends. When I request documentation to support the LLC or corporation there are no articles of organization, articles of incorporation, nor are there bylaws or an operating…
As previously referenced in this blog, stock allows a Corporation to do many different things. It is an effective way to raise capital, to transfer voting rights in a company, and it even can be a means to transfer presumptive rights to the heirs of the…
I’m regularly asked by clients whether or not they need a corporation or an LLC. Both options carry benefits and risks. Generally, corporations are better for businesses that are going to scale into larger operations. LLCs are better when the business is going to be…
This will be the opening post in a series on corporate law for our blog. Over the course of my practice I have had innumerable clients come to me for advice after their business has run into some sort of trouble, be it defaulted loans…
