Happy #ThrowbackThursday. Some (maybe all of you) may be wondering about my choice of including this photo – it is me, years ago, dressed as Sparty for the MSUvUofM game. I thought it pertinent, given the topic of this e-mail is maintaining your business “liability shield” and as everyone knows, Sparty is the greatest warrior/mascotContinue reading “Reminder for Michigan Limited Liability Companies on Upcoming Filing Deadline. Stay in Good Standing and Maintain your Corporate Formalities.”
Tag Archives: startup
Pitfalls for Business Owners: Recent Court Case on Piercing the Corporate Veil.
We are heading towards the end of the year – I love the Christmas season! One thing that comes to mind for local business owners going into the New Year – make sure that your legal documents and procedures are in proper order. As every business owner should know, one of the main purposes inContinue reading “Pitfalls for Business Owners: Recent Court Case on Piercing the Corporate Veil.”
Big Bank Troubles and Trending Towards Community Banking or Fintech?
“The so-called Sons and Daughters Program was nothing more than bribery by another name,” -Assistant Attorney General Caldwell. Today the Department of Justice issued a Press Release – JP Morgan’s Investment Bank in Hong Kong has agreed to pay a $72 Million Penalty for Corrupt Hiring Scheme in China. Yikes. A couple of thoughts: 1.Continue reading “Big Bank Troubles and Trending Towards Community Banking or Fintech?”
Business Legislation Update: Business Owners: Bill Would Restrict Non-Competition Agreements with Employees.
On November 9, 2016 House Bill 6017 was introduced in the Michigan House of Representatives. If passed it would limit the enforceability of a non-competition agreement signed between an employer and an employee. I have spent several articles discussing the legal consequences/enforceability issues of non-competes. It appears the Legislature is wrestling with the question posed byContinue reading “Business Legislation Update: Business Owners: Bill Would Restrict Non-Competition Agreements with Employees.”
Another Court Lesson for Business Owners: Read Your Contracts Before You Sign.
I recently read yet another court decision that provides a classic example for businesses owners of the consequences for not reviewing your contracts before signing. The case: the October 6th, 2016 Michigan Court of Appeals decision of Earl Pegues, LLC v Izis General Contractors, LLC. The dispute concerned a construction agreement. The property owner, PeguesContinue reading “Another Court Lesson for Business Owners: Read Your Contracts Before You Sign.”
Reminder to Michigan Limited Liability Companies: Maintain your Corporate Formalities and Keep up your Guard.
Occasionally I will have a business client come in and I will ask – just to make sure – “is your business still in good standing?” The common answer is “I think so.” And of course, after I perform a quick internet check with the State of Michigan it is all too common that IContinue reading “Reminder to Michigan Limited Liability Companies: Maintain your Corporate Formalities and Keep up your Guard.”
Update on Community Development and Affordable Housing: Is an Answer Found in Social Enterprise?
Today the Community Development Financial Institutions Fund released its five year Strategic Plan If you are not familiar with the CDFI, the CDFI “works to spur economic growth and opportunity in many of our nation’s most distressed communities.“ “The CDFI Fund’s mission is to expand economic opportunity for underserved people and communities by supporting theContinue reading “Update on Community Development and Affordable Housing: Is an Answer Found in Social Enterprise?”
Trending Towards Social Entrepreneurship: Update on Michigan’s Benefit Corporation Legislation.
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.”
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.”
Why Startup Fintech Company “Lemonade” is so Intriguing.
CrowdFundInsider just posted an article on a new Fintech Startup – Lemonade. You should check the article out here I’ll start by answering a basic question: (By the way – the photo is one I took last year from Central Park – my limited experience with New York.) What is Fintech? According to FinTech Weekly:Continue reading “Why Startup Fintech Company “Lemonade” is so Intriguing.”
Purpose Driven General Counsel 