» Business Law

Corporations

A “Corporation” is an association of persons, created by law and existing as an entity with powers and liabilities independent of those of its members. In the case of profit corporations, its owners are shareholders. The owners of nonprof… Read More
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Categories: Business Law

Updating Corporate Minute Books

Corporate shareholders actively engaged in running their corporation (business owners) often get so busy running their corporation that they forget to follow corporate formalities like holding shareholder and board meetings and keeping minutes of tho… Read More
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Categories: Business Law

Michigan Business Courts in Full Swing

September 1, 2013 marked a new day for the business world and Michigan state law. The Michigan Public Act 333 of 2012 now requires that every county with at least three Circuit Judges establish a Business Court. The purpose behind the new court syste… Read More
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Categories: Business Law

Ratification of Past Corporate Actions

According to Michigan Law an incorporated Michigan Company must hold a annual Shareholder meeting. This is a great opportunity to discuss businesses accomplishments, cast a vote on needed items and to discuss how to grow the company. There are a few… Read More
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Categories: Business Law

What You Need to Know About "Business Divorce"

It’s stormy seas for businesses that neglect “divorce-proofing” shareholder agreements, according to a recent WealthCounsel article. Disputes that arise between business partners can become just as financially and emotionally draining as fa… Read More
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Categories: Business Law

Notice of Business Court Implementation

Wayne County Circuit Court is implementing a Business Court docket on July 1, 2013. The Supreme Court appointed Judge Daniel Ryan, Judge Jeanne Stempien, and Judge Brian Sullivan as Business Court Judges. All Business Court cases must be eFiled and w… Read More
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Categories: Business Law

Judges named to serve on Michigan’s new Business Courts

The Michigan Supreme Court has appointed the following 18 judges to serve on Michigan’s new business courts: 3rd Circuit Court (Wayne) — Judge Jeanne Stempien 22nd Circuit Court (Washtenaw) — Judge Archie Brown 31st Circuit Court (St. Clair) … Read More
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Categories: Business Law

"No Award" outside possible range of awards for shareholder oppression

In an unpublished opinion dated September 27, 2012 in Ginnard v Advanced Design and Prototype Technologies, Inc., the Michigan Court of Appeals reversed the Oakland Circuit Court’s opinion and order denying plaintiff Mark Ginnard’s request for sh… Read More
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Categories: Business Law

Business Courts Bill moves on to the House

On Thursday, September 20, 2012 the Michigan Senate passed its version of HB-5128, which will establish business courts throughout the state. Now that the bill has passed the Senate, it is on to the House for a concurrence vote. According to Section… Read More
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Categories: Business Law

Business Guide to Selling Securities

The State of Michigan has a few excellent resource guides available on its Web site, including a Business Guide to Selling Securities. The guide gives a general overview of the Michigan Uniform Securities Act and provides a summary of the registratio… Read More
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Categories: Business Law