If you are considering starting a business with anyone else, you must protect yourself. Even if you trust your business partner implicitly, no one can ever know what the future may hold. Taking the time to protect oneself now will pay off immensely in the future. You and your partner(s) may need to secure financing… [Continue Reading]
Mergers and Acquisitions During the COVID-19 Pandemic
The COVID-19 pandemic has had an impact on many businesses and their operations, especially within the realm of mergers and acquisitions. When engaging in a merger or acquisition during the pandemic it is important to understand certain unique issues that may affect the transaction. We hope this ‘Resnick Law Monthly Tip’ will help to better… [Continue Reading]
Making the Most of New Pandemic Tax Credits for Businesses
Employers across all industry verticals have been hit hard by the COVID-19 pandemic. As a result, companies should do their most to take advantage of the various pandemic tax credits that have been made available during these strenuous times. It can also help to hire a knowledgeable corporate law attorney who can make the most… [Continue Reading]
Navigating the WARN Act During Difficult Financial Times
The Commerce Department recently reported on the most substantial three-month decline of the United States economy ever. In the second quarter of 2020, the gross domestic product decreased by 9.5%. From restaurants to shoe stores, the impact of the coronavirus pandemic has been felt throughout industries and economies. With many relief funds depleted and no… [Continue Reading]
Common Partner Disputes and How to Resolve Them
Going into business with a partner is one of the best ways to operate. Many companies have flourished because the old adage that two heads are better than one often turns out to be true. Unfortunately, even in the strongest partnerships, disputes are known to occur. With the COVID-19 pandemic and the many challenges facing… [Continue Reading]
Steps Business Owners can Take to Reduce COVID-19 Liability
Whether it is a bank, sporting goods store, or restaurant, Michigan businesses face increased liability claims during the COVID-19 pandemic from customers who claim to have been exposed during their time there. Concerns about liability have additionally raised the questions of whether businesses have an increased duty of care to customers as well as what… [Continue Reading]
Understanding the Concept of Force Majeure
The coronavirus pandemic has seen an increase in the use of the fundamental force majeure contract clause, which discharges certain contractual duties following an event’s occurrence. Exactly what obligations are discharged as well as what circumstances are associated with a force majeure depend on how a contract addresses these terms. What Constitutes Force Majeure When… [Continue Reading]
Five Common Social Media Mistakes Businesses Should Avoid
Many companies view social media as an integral way to advertise to customers. If used incorrectly, however, social media can create substantial business problems. As various federal and state regulations are created to control social media, however, more people are becoming aware of the ramifications of improper social media usage. The following are some of… [Continue Reading]
What Michigan Business Owners Should Know About the CCPA
In January 2020, the California Consumer Privacy Act (CCPA) became the first act of its kind to force substantial changes in how businesses handle consumers’ personal data. Estimates suggest that the CCPA will impact approximately 50,000 businesses throughout the country, ranging from small start-ups to major companies. While the law is directed toward companies that… [Continue Reading]
Commonly Asked Questions About Incorporating a Business
If you are a small business owner, you likely began your business as a sole proprietorship. While sole proprietorships are the simplest type of business structure, there is no legal distinction between the business owner and the business. This can prove to be an unwise decision as the business grows. For this reason, many business… [Continue Reading]
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