In a previous article on protecting your assets (Part 1), I wrote about the importance of maintaining corporate formalities. Businesses that commingle assets, forgo record keeping, official minutes, and fail to keep their registration with the State of Michigan up to date risk losing their corporate protections. In most cases, the corporate form limits your … Continue reading 3 Common Mistakes that Compromise a Business’s Corporate Protection and Expose Your Personal Assets.
Nobody likes to plan for life's unpleasantries, including divorce. While divorce remains an unfortunate fact of life, proper planning with your business attorney can help protect your business from the unexpected. This is particularly critical where a business has multiple owners, members, or partners. In a recent case out of New York, a company's three … Continue reading Does Your Business Have a Pre-Nup? The Importance of Planning for Life’s Unexpectancies.
Special thanks to Dylan Clark for researching and co-authoring this article! Dylan is a rising senior at Michigan State University and will be graduating in 2020. He is studying for the LSATs and plans to attend law school next fall. His interests include corporate and business law. With the overwhelming degree to which the Internet … Continue reading But Your Honor, He Said a Bad Thing About Me on Facebook: Business Defamation Claims in the Age of Social Media
Special thank you to Cody Borke for co-authoring this article! Cody is a 2019 graduate of Western Michigan University who is spending his gap year working at Fausone Bohn. Cody plans to go to law school in 2020 and specialize in corporate and business law. According to a recent Capital Access Report authored by the … Continue reading The More You Know: 5 Uncommon Sources of Capital for Metro Detroit Entrepreneurs
Those of you who follow me on Instagram know that I am the #Trilawyer (basically, a lawyer whose hobby is doing triathlons). The cycling leg just happens to be my favorite, I love going to spin class at the gym, and I am also a big fan of watching pro cycling on TV. Anyone else … Continue reading Don’t Spin Out: 5 Lessons for Every Business Owner From the Peloton Copyright Lawsuit.
Whether you are a one-man computer whiz coding the next blockbuster iPhone app, or a five-employee manufacturer making parts for a Tier 1 auto supplier, you need basic corporate forms to protect your assets and investments. A limited liability company (or LLC) is the preferred way to organize and obtain this protection. Plus, if you … Continue reading 4 Must Have Legal Documents for New Business Owners
It is a classic horror movie plot line. The good guy finally killed off that scary monster/evil janitor/gremlin. Hooray! Triumphant, the hero turns his back to celebrate with fellow survivors when SUDDENLY the monster/evil janitor/gremlin rises from the dead to take down that one final victim! In the business world, if you do not take … Continue reading Terror From Beyond the Grave: 5 Critical Mistakes To Avoid When Terminating Your Company