Sheehan & Associates, P.L.C.

February 2015 Archives

Choosing a preferred business structure in Michigan

Individuals who are interested in acquiring a business may choose to buy or create their own independent company or to purchase a franchise. One advantage to starting or buying an independent company is that an individual can run the business however he or she chooses. On the other hand, a franchise owner has the ability to rely on the parent corporation for materials and brand recognition.

Orbitz may be acquired by Expedia

Investors in Michigan may be interested in news that could potentially be disruptive to the online travel industry. In a statement issued on Feb. 12, Expedia announced its intent to acquire Orbitz for a total value of $1.6 billion, including $1.34 million in cash, as well as net debt. The transaction has already been approved by both companies' boards, but still needs to be approved by Orbitz shareholders and regulatory bodies.

New businesses and buy sell agreements

New business owners in Michigan who are forming their companies with other individuals may need to draw up a buy sell agreement. A buy sell agreement could be an important document that attempts to protect all owners if an event, such as a divorce, death or bankruptcy, occurs.

Market research can help lead to successful businesses

When planning to start up a new business, it can be important to do some market research to determine why consumers are more willing to buy a certain product or service. There are numerous ways to go about this research that can help a business determine how much it can sell and how to adjust to current market trends.

Plan for smooth transition to heirs

Michigan residents may not view estate planning as an important step for their companies, but it could be essential for ensuring a clean handoff to heirs. When an individual has amassed sizable assets, it may be important to make plans for how those assets will be distributed upon one's death. Celebrities often accumulate wealth through their earnings and some do a better job than others do when preserving that wealth after they die.

Breach of contract disputes

When two individuals or companies in Michigan enter into a contract, each party is legally obligated to fulfill the promises that were laid out in the agreement. A party who does not perform could be found to have breached the contract. This can occur when a party does not fulfill its end of the deal at all or fails to perform on time or in accordance with the terms of the contract.

What buyers consider before purchasing a company

A business owner in Michigan who is putting their company on the market might want to become familiar with the numbers that buyers consider before purchasing a company. By understanding the numbers that influence a buyout, a business owner may be better prepared to make sure that their company is seen as an attractive investment.

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Sheehan & Associates, P.L.C.
1460 Walton Blvd , Suite 102
Rochester Hills, MI 48309

Toll Free: 877-600-7891
Phone: 248-218-1473
Fax: 248-650-5368
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