» Business Law

A Limited Liability Company (LLC) can offer several key asset protection benefits. Significantly, this business structure can shield the personal assets of an owner from the company’s debts and lawsuits. In other words, if a business is sued, credi… Read More

Most small business owners are justifiably proud of the business they have built or sustained. And they should be! Small businesses, including family businesses, are the lifeblood of the American economy. Many business owners devote their careers to… Read More

Amid ongoing litigation regarding beneficial ownership reporting, the Financial Crimes Enforcement Network (FinCEN) quietly updated their website to state the following: “In light of a recent federal court order, reporting companies are not current… Read More

In Michigan, the definition of an accredited investor largely mirrors the federal definition provided by the U.S. Securities and Exchange Commission (SEC). Michigan follows federal guidelines for who qualifies as an accredited investor — especially… Read More

“Creditors have better memories than debtors.” – Benjamin Franklin Generally speaking, consumer debts are those debts that arise out of a contract made primarily for personal, family, or household purposes. While these debts can som… Read More

When an LLC member decides to sell their membership interest, there are generally two methods by which the transaction can occur — redemption of membership interest and cross-purchase. Each method has various pros and cons, depending upon your obje… Read More

The Corporate Transparency Act was enacted in 2021 and went into effect on January 1, 2024 with the aim of improving business activity transparency. It seeks to combat tax fraud, money laundering, and financing for terrorism by providing FinCEN with… Read More

What rights does a limited liability company member have if they are being treated unfairly by the other members of the company? The answer to this frequent problem is found in Michigan statute and case law. The statute MCL 450.4515 provides: A membe… Read More