Employers in Michigan who are facing the unpleasant task of firing one of their employees may be able to make the experience go more smoothly by keeping some things in mind. First, an employer should usually provide an employee with sufficient warning before firing...
When two or more people come together to operate a business, they are said to be in a partnership. In a general partnership, each partner shares profits and losses equally unless otherwise specified in the partnership agreement. For general partnerships, there is no...
Limited liability partnerships and limited liability companies are two similar but distinct types of business entity. Neither one is required to pay corporate taxes; instead, taxation falls upon the individual partners or members. Both entities are very flexible in...
For Michigan businesses, the terms acquisitions and takeovers are sometimes interchangeably used. There are different meanings between the two business maneuvers, however, depending upon whether the target company is acquired with its permission or without....
Michigan individuals who sell a franchise must follow strict guidelines regarding information that must be provided to a potential buyer about the franchise. If these rules are not followed, the seller can face stiff penalties. A franchise seller must provide the...
When two Michigan companies join together, their merger may be classified as one of five different. Two common types of mergers are the horizontal and vertical mergers. A horizontal merger occurs when two companies in the same industry merge to gain market share and...
A complaint has been filed in a Delaware U.S. Bankruptcy Court alleging that Hormel Foods Corp. failed to disclose issues that would eventually lead AgFeed Industries Inc. into bankruptcy. The suit states that Hormel Foods knew about serious issues with M2P2 LLC's...
Selling a business in Michigan is likely to be a less stressful experience if the business owners have done their homework and has realistic expectations. While the sale of a business may sometimes throw up completely unexpected problems, some common pitfalls may be...
