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Right of First Refusal

Right of First Refusal and Co-Sale Agreement Right of first refusal and co-sale agreement or ROFR for short, involves an agreement or clause that mandates a party provides notice before a transaction. Additionally, this agreement requires that an option is provided for the other party to refuse this transaction. In short, a right of first refusal ensures that someone is informed of an impending sale rather than being informed after the fact. This provision is generally written in a contract and is common for transactions that involve the sale of a business, purchasing of business [...]

Right of First Refusal2020-03-19T17:40:24+00:00

Articles of Organization Michigan

Forming An LLC in Michigan As a business owner or entrepreneur, it’s important to ensure that your business is officially recognized as a legal entity within your state. This process involves filing an LLC (or another type of entity) with the state where your business is based. The Articles of Organization are a document required to form a limited liability company in several states. There are many reasons why this is important. For instance, forming an LLC provides legal separation between you and your company. In other words, it’s much more difficult for someone to [...]

Articles of Organization Michigan2020-03-26T18:52:05+00:00

Convertible Promissory Note

Convertible Promissory Note It can be difficult to get a startup off the ground, especially when the startup requires a fair amount of overhead. Fortunately, there are options available for early stage startup companies, particularly ones with a high revenue potential. If your business is involved in a seed round or another type of early stage funding, it may be prudent for you to consider a convertible promissory note. Convertible notes are a great way to help early stage businesses with the issue of financing. This article explains what a convertible promissory note can do [...]

Convertible Promissory Note2020-01-08T14:37:24+00:00

Difference Between Merger and Acquisition

Merger vs. Acquisition: What's the Difference? Mergers and acquisitions have been popular business tools since the late 1800s. In 1920, MGM was formed when movie theater owner Marcus Lowe acquired Louis B. Mayer Pictures, Metro Pictures, and Goldwyn Pictures. It cost Loew $8 or $108 million in today's money. In 2013, Verizon and Verizon Wireless merged together. That merger was worth $132 billion dollars. Most people assume that a business merger and business acquisition are similar terms; however, they're actually quite different. Keep reading to learn the difference between merger and acquisition. [...]

Difference Between Merger and Acquisition2020-03-26T18:52:38+00:00