The Importance of Single-Member LLC Operating Agreements: Your First Line of Defense
The Importance of Single-Member LLC Operating Agreements: Your First Line of Defense In Michigan, single-member LLC operating agreements are vital legal documents, especially when disputes arise. Courts consistently request the operating agreement first, as it serves as the primary evidence of business practices, authority, and intent. Under Michigan law (MCL 450.4215), single-member LLCs are […]
Harvey Norman Law Launches Business Founder’s Blueprint for New Entrepreneurs
Harvey Norman Law Launches Business Founder’s Blueprint for New Entrepreneurs ROYAL OAK, Mich., May 29, 2025 – Harvey Norman Law today announced the launch of its Business Founder’s Blueprint, a personalized guide designed to streamline critical decisions for new business owners. The initiative coincides with founder Nathan Norman’s approaching 10-year milestone of entrepreneurial independence, […]
Remote Online Notarization (RON) in Michigan: Preparing for Potential Changes
Remote Online Notarization (RON) in Michigan: Preparing for Potential Changes Michigan has permitted limited remote notarization since 2018, primarily under emergency orders and restrictive rules. Currently, House Bill 5882—which would substantially modernize the Michigan Law on Notarial Acts (MiLONA)—has passed the Michigan House but remains pending in the Senate Government Operations Committee as of […]
Michigan’s New Pass-Through Entity (PTE) Tax Election: Deadline Extended to September 30, 2025
Michigan’s New Pass-Through Entity (PTE) Tax Election: Deadline Extended to September 30, 2025 Michigan recently reshaped the landscape for S-corporations and partnerships with Public Act 216, effective as of January. Previously, entities had until March 15 to elect into the Pass-Through Entity (PTE) tax, but the revised statute now extends that deadline significantly—entities now […]
Life After Non-Competes
Life After Non-Competes: Navigating Talent Mobility, Trade Secrets, and Investor Due Diligence Post-FTC The Federal Trade Commission’s ambitious 2024 rule sought to eliminate nearly all employee non-compete agreements nationwide, with a narrow exception for existing agreements covering a limited group of senior executives. However, in August 2024, the Northern District of Texas enjoined enforcement […]
Federal Court Halts Corporate Transparency Act Enforcement Nationwide
Federal Court Halts Corporate Transparency Act Enforcement Nationwide On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily halting the enforcement of the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting obligations. This injunction significantly impacts millions of U.S. businesses. Immediate […]
Legal Requirements for Starting a Business: What You Need to Know
Legal Requirements for Starting a Business: What You Need to Know Launching a business is thrilling but also involves navigating critical legal requirements. Ensuring your startup complies with these legal obligations is essential to establishing a successful and compliant operation. Below are the crucial legal steps every entrepreneur should follow: Choose the Appropriate Business […]
How to Choose the Right Business Structure for Your Startup
How to Choose the Right Business Structure for Your Startup Selecting the right business structure is a critical decision for entrepreneurs, directly impacting your liability, taxation, operational requirements, and fundraising capability. Although there’s no universal solution, understanding each structure’s advantages and disadvantages can significantly simplify your decision-making process. Here’s an overview of common business […]
Funding Your New Business: Options for Entrepreneurs
Funding Your New Business: Options for Entrepreneurs Launching a new business is an exciting journey, but securing sufficient funding is essential for ensuring your startup’s success and sustainability. Here is a clear overview of the most common funding options available to entrepreneurs, along with their advantages and disadvantages. Self-Funding (Bootstrapping) Bootstrapping involves leveraging your […]
Creating a Winning Business Plan: A Step-by-Step Guide
Creating a Winning Business Plan: A Step-by-Step Guide A robust, well-structured business plan is crucial for entrepreneurs aiming to launch or expand their businesses. It acts as a strategic roadmap, helps attract potential investors, and ensures you stay focused on achieving your goals. Here’s how to craft a compelling and effective business plan: Executive […]