» Business Formation and Transactions

Non-Compete Agreements Must Be Reasonable

A common source of litigation for many businesses is breach of non-compete agreements by former employees. A company’s success in such actions is closely related to the enforceability of the non-compete agreement terms. This is because Michigan law requires that all non-compete agreements be reasonable. If the agreement is not reasonable, the court may choo… Read More
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Closely Held Businesses and Shareholder Oppression

Most businesses are closely held by just a handful of owners as either a corporate shareholder, or a limited liability company member, who manage the daily affairs and business planning decisions of the company. These types of companies are usually controlled by Bylaws, Buy-Sell Agreements, Operating Agreements, and other contracts between the ownership pool. Som… Read More
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Corporate Management Agreements: Corporation v. Limited Liability Company (LLC)

The Michigan Legislature adopted the Michigan Limited Liability Company Act in 1993, and since then numerous business persons have taken advantage of this new entity form based on its flexible characteristics. In fact, most business people who are looking to form a new business entity presume that an LLC is the easiest path to take. However, the Michigan Legislat… Read More
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