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Legal Articles

Michigan Corporate Law

Corporate Law in Michigan In Michigan, corporate law governs the formation and operation of corporations formed under the Michigan Business Corporation Act, or businesses that existed prior to January 1st of 1973 under any previous statute. This law covers the rights and obligations of all parties involved in the formation, ownership, operation and management of …

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Business Law in Michigan

Whether you’re an entrepreneur starting a business, or a business owner who’s expanding, selling, or otherwise operating an existing one, it’s important to have a general understanding of the laws and regulations governing business within your state. These bodies of laws and regulations are loosely referred to as business law. These laws are important because …

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Due Diligence Checklist

Due Diligence in Mergers and Acquisitions Mergers and acquisitions (M&A) are two different types of business transactions that involve the combining of two companies into one single company. These often have dramatic effects on companies, as well as all stakeholders such as the owners, management, employees and the customers the companies serve. Because of this, …

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Non-Disclosure Agreement

Non-Disclosure Agreements (NDAs) – also known as Confidentiality Agreements – are agreements between two or more parties preventing the disclosure of shared information to third parties. These can be setup as unilateral or bilateral depending on the situation and parties involved. NDAs are a legally binding contract and the breach of an NDA can result …

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Corporate Compliance – Why it Matters and How it Works

In today’s regulatory climate, it’s vital that a business follows all applicable laws and regulations. corporate compliance is an important and effective method to ensure that happens. It involves the design, implementation and monitoring of policies, training, procedures and practices. The basic purpose of corporate compliance programs are to prevent violations of the law and …

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Joint Venture Agreement

A joint venture agreement is a partnership between two or more companies to undertake a business venture together. It forms its own corporation, limited liability company or partnership specifically for the joint venture. This allows the companies to have separate legal status while working together. These joint venture agreements can be short term or long …

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Asset Purchase Agreement

An asset purchase agreement (APA) is the name of the legal document used when purchasing assets of a company. This document is also commonly referred to as a “business purchase agreement.” The agreement serves as a contract between a buyer and seller which finalizes the terms and conditions involved in the sale of a company’s …

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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 …

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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 …

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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 …

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