If you have one or more business partners then you need to have a buy-sell agreement or buyout agreement included in your partnership agreement. Think of a buy-sell agreement as a prenuptial agreement for your business. The agreement sets into writing what will happen if one of the owners leaves, retires,
Read moreThe Best Entity for You - Pt.II →
In the previous post, we discussed two entities that are available to Michigan businesses. In this post we discuss the final three entity types - corporations, limited liability corporation, and non-profit corporation:
Read moreThe Best Entity for You →
For novice business owners, choosing a business structure typically comes down to answering four questions:
- How many people will own the business?
- How much personal liability protection will be needed?
- How do you want your business to be taxed?
- Would your business benefit from being able to sell stock?