In Michigan, persons in a learned profession requiring a license or other legal authorization to practice, including but not limited to, physicians, dentists, attorneys, and certified public accountants, must incorporate as a professional entity rather than a general business entity. The choice of professional entity will depend on a variety of factors, including tax considerations. [...]
The sales and operation of franchises are heavily regulated under both federal and state law, but do you know what makes the business relationship between two companies a franchise? There are three criteria that establish whether a contract is a franchise agreement. All three criteria must be present for there to be a franchise relationship: [...]
As of January 2009, Michigan is one of the few states to offer a new form of business entity. If your business is for profit, but its primary focus is to accomplish socially beneficial acts, you may want to organize as a low profit limited liability, or an L3C. The L3C is structured like any [...]
The Detroit Free Press (Freep.com) has been following all of the developments at the National Summit this week in Detroit and posting the latest to their blog (See excerpt below). This morning the hot topic was the recent rise in entrepreneurship. It is essential that new businesses have all of their ducks in a row [...]
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