Michigan Business Formation and Maintenance

Business formation and the legal maintenance of a small business should be done in a comprehensive and economical way.  You will be provided with the information that you need to select an appropriate business form.  Based upon your circumstances, a document will be tailored to provide the appropriate structure and governance.  Further, legal maintenance of your business is available at an economical cost.

Business Formation

The decision to start a new business is an exciting moment in one’s life.  Although it is well understood that any new venture involves risk, many entrepreneurs fail to properly plan to protect themselves.  The business entity that you choose at the beginning of your enterprise can mitigate the risk of potential personal liability. Additionally, the legal structure of your business will determine plays a role in how your business must operate.

Each business form was created with different situations in mind.  Each of the many business forms available to choose offers a different balance of liability, legal requirements, flexibility, and taxation.  In Michigan, the most common forms of business available include:

  • Corporations, including s-corporations, c-corporations, professional corporations, nonprofit corporations and others
  • Partnerships, including general, family and limited liability partnerships (LLPs)
  • Limited liability companies (LLCs), including professional limited liability companies (PLLC)
  • Franchises
  • Joint ventures
  • Sole proprietorships

Avoid the pitfalls associated with failing to establish the proper foundation for your business.  With sound advice regarding the formation and early business planning provides the groundwork that will limit your personal exposure to risk.

Shareholder, LLC & Partnership Agreements

Once the appropriate business form is selected, it is important to have a business agreement tailored to structure the business to fit your needs.  Every business is different and success stems from having the right business agreement in place to further the business goals. 

When multiple parties are involved in the management of the business, the negotiation and drafting of an appropriate business governance document is pivotal to avoid future disputes.  Further, this document will be relied upon to provide the rights and responsibilities of owners, officers, shareholders and others.  It will also establish the methods to resolve disputes. 

I provide cost-effective legal services for the creation of your business and drafting of the necessary documents.

Business Maintenance

Certain basic transactional services are necessary to take care of the legal maintenance of your business entity.  Depending on your business form, it is important to maintain historical and current minutes of annual and special meetings and resolutions, corporate governance matters are addressed, and the prevention and resolution of disputes. 

I believe that maintaining a business should be done at an economical cost.  Depending on your business form many legal maintenance costs will be nominal—as they should be. 

© Law Offices of Daniel D. McLean, PLC 2011