Detroit has been a boomtown for new business over the past few years. While there are tons of
opportunities available for entrepreneurs it is important to have the correct business structure in place to make sure you and your partners' interests are adequately protected. All too often, people go into business together without the proper planning. I have gone to court in protracted legal battle numerous times because business owners failed to properly set up the business in the first place. An ounce of prevention truly is worth a pound of cure. If all parties’ respective rights are set forth in the appropriate instruments from the beginning, there is nothing to argue about further down the road.
When forming a business, it is important to have a seasoned attorney prepare the correct documents to
prevent headaches down the road. For corporations, that includes Articles of Incorporation, Resolutions,
Stock Certificates, and By-Laws. For LLCs, you will need Articles of Organization and an Operating
Agreement. Whether a corporation or LLC is best for you, in either case, you need to get the appropriate
tax numbers, include a FEIN or Federal Identification Number, State Tax ID Number, and Local Tax ID
If you have a multi-member business, it is critically important to set forth the responsibilities and
expectations of each member at the outset. Otherwise, down the road, if things go south between the members of the business, it usually ends in costly litigation, with no one being happy.
Make sure your business is properly set up to protect you and your partners from personal liability. Call
today for a free consultation!
LLC and corporation formation and dissolution, shareholder suits
Call today for a free consultation!
- Business Formation
- Shareholder Disputes
- Contract Preparation
- Licensing (State and Local)
Dupuy Law Firm, PLC
407 East Fort St
Detroit, MI 48226
Tel: (313) 729-7739