House Bills 5710, 5711 & 5712 were introduced on May 31, that would allow BCorps to be formed under Michigan Law. Although the State House has taken no formal action since June 1, in late September the House Fiscal Agency issued a Fiscal Analysis on the BCorp bills, check it out here. The AnalysisContinue reading “Trending Towards Social Entrepreneurship: Update on Michigan’s Benefit Corporation Legislation.”
Category Archives: business law
Business Law Update: Why Your Operating Agreement Matters.
Business Owners and Entrepreneurs: Let me paint you a picture: You decide to go into business. You’ve identified a business partner. You and your business partner decide the details of who is going to contribute what (capital, finances, “sweat equity”, etc..). Your startup is now off and running! Your business does not go as expected. You haveContinue reading “Business Law Update: Why Your Operating Agreement Matters.”
Recent Court Case Provides Good Lessons For Real Estate Investors.
Its Wednesday and I wanted to share a court of appeals case that came out on September 15th. Case: Key Bank v Lake Villa Oxford Assoc, et. al. Lesson: be careful when drafting “personal guarantees” I’ve written in the past about personal guarantees. This particular case involved a real estate development gone bad. Defendant, developer,Continue reading “Recent Court Case Provides Good Lessons For Real Estate Investors.”
Business Owners: Think Before you Sign. Recent Court Case Shows Why the Language in Your Contracts Matter.
Here’s to warmer weather! I’ve previously written about the importance of understanding the contracts you sign. I just read a recent Court of Appeals decision that provides a great illustration for business owners to give pause before signing a contract on the dotted line. Check out the case of Solis v Kroger and The Greener Side.Continue reading “Business Owners: Think Before you Sign. Recent Court Case Shows Why the Language in Your Contracts Matter.”
MI Supreme Court in Lawsuit Involving 5 Hour Energy: Commercial Non-Competes Must be Evaluated Under the Rule of Reason.
A while back I wrote a post about the Court of Appeals Decision: The Non-Compete Lawsuit Involving 5 Hour Energy. To recap, the facts: Parties: Plaintiff, Innovation Ventures, LLC, – the maker of “5 Hour Energy” Defendants Liquid Manufacturing, LLC, K & L Development of Michigan, LLC, and Peter Paisley and Andrew Krause, the presidentsContinue reading “MI Supreme Court in Lawsuit Involving 5 Hour Energy: Commercial Non-Competes Must be Evaluated Under the Rule of Reason.”
Prince Died Without a Will. Business Owners: who are your advisors?
CNN just posted an update on the Prince Estate dispute: possible heirs narrowed down to six @CNN https://t.co/imje7PyaqR A while back I posted about some lessons from Robin Williams’ Estate. I wrote about Robin Williams’ Estate as “an example of the problems that can erupt after a loved one passes away – even if that lovedContinue reading “Prince Died Without a Will. Business Owners: who are your advisors?”
About Propaganda Doughnuts’ Closing and West Michigan Business. Working to Build a Better Community.
A few days ago MLIVE posted about Propaganda Doughnuts’ closing on South Division in Downtown Grand Rapids. I was a fan of Propaganda Doughnuts. Occasionally on Sundays after church my family would pick up some doughnuts and go to a park with some friends. I am sorry that I won’t be able to do that any more.Continue reading “About Propaganda Doughnuts’ Closing and West Michigan Business. Working to Build a Better Community.”
Lesson for Businesses: “Words Matter.” Court of Appeals Reverses in favor of Bank of America.
Words Matter. Contracts are about risk allocation. In a transaction, who bears what risk? Back in April I posted on a recent Supreme Court case – Bank of America v First American Title, et. al. If you recall, that case involved allegations of mortgage fraud perpetrated against BOA to the tune of millions of dollars. AboutContinue reading “Lesson for Businesses: “Words Matter.” Court of Appeals Reverses in favor of Bank of America.”
Startups – Don’t Make this Mistake!
Happy Friday! A few months back I wrote a post titled Business Startups: Don’t make these mistakes. I discussed a recent case that highlighted mistakes that business startups can make – including, shutting down a business, then starting a new one just to avoid debts/creditors. Generally speaking, that doesn’t work! A May 3rd Cour of appealsContinue reading “Startups – Don’t Make this Mistake!”
Michigan Corporations: Maintain your Corporate Formalities and Keep up your Guard.
This morning I received an e-mail reminder from the Michigan Department of Licensing and Regulatory Affairs (LARA) Corporation owners are reminded that annual filing fees and statements must be filed by May 15, 2016. “Annual statements and annual reports can be filed online at http://www.michigan.gov/fileonline LARA sent a reminder that failure to file will result inContinue reading “Michigan Corporations: Maintain your Corporate Formalities and Keep up your Guard.”
Purpose Driven General Counsel 