People may not know what the definition of fiduciary duty is, but they know it when they see it. The term refers to the expectations between business partners, representatives, or others who act on behalf of the client, employer or partner. A straightforward example...
Business Law
Most banks avoid loans to marijuana businesses
Just about every new business or startup needs financing. It may happen at the beginning of the process to pay for initial costs, or it may be to help organically grow the company to the next level. This financial support may come as a bank loan, but those getting...
How to protect a business from property division
There are more than 870,000 small businesses here in Michigan. All of these businesses tallied by the Small Business Administration were started by somebody with an entrepreneurial drive and a dream. Yet a divorce can put a small business at risk. Without any...
Will Michigan lawmakers target non-compete agreements?
Non-compete agreements can be crucial for businesses. The agreements can offer protection when an employee leaves the company, ensuring the individual will not use valuable information to prop up a competitor and damage your business. Yet across the nation, there is a...
Questions to ask when considering a commercial lease
Even in a vacuum, starting a small business in Michigan is a lot of work. But dotting your company’s i’s and crossing the entity’s t’s is only one part of it. Many small business owners also need somewhere to operate. For that, they find commercial space and sign a...
How business disputes are resolved: The basics
No business operates fully independent of anything else. Even basic computer software or vital work supplies require some type of transaction. As a business grows, these simple exchanges can evolve into contractual agreements between two parties for products or...
How to get your small business off the ground
Small businesses are the heart of Michigan’s economy. They make up 99.6% of all businesses based in the state and employ about 1.9 million people. That’s nearly half of Michigan’s private workforce, according to federal figures. By starting a small business, you’re...
How do I start an LLC in Michigan?
If you are starting a business, you may have an interest in forming it as a limited liability company. This business structure comes with tax and liability advantages. In order to form an LLC in Michigan, you must adhere to state requirements. Michigan law has...
