BUSINESS AND BUSINESS PLANNING

Call Olson Law Firm for Small Business Business.  Edward M. Olson has many years of experience helping people during every stage of a business, from start up to merger or sale.  As the owner and operator of a small business since 1996, Edward M. Olson has the hands on experience to give you practical and knowledgeable help.

For people who are thinking about starting a new business, it is important to discuss what kind of business entity to use.  There are legal, tax and other ramifications that are affected by the choice of a limited liability company, a partnership, or an “S” corporation.  A little advance planning can save you a lot of money later on.

If you are looking to raise money for your company, it is important to understand the benefits and risks of bank financing, private investors, or other financing options.  In many cases, a creative use of more than one financing choice will provide the best outcome.

You may be faced with a more immediate problem like a proposed purchase order or the opportunity to lease or purchase real estate.  Timely and thorough review and negotiation can save you a great deal of aggravation and money.

As an employee, or as an employer, you may be considering the commencement or the termination of an employment contract.  Michigan law provides opportunities to be very creative in employment contracts.  However, some provisions are going to be void and some are going to have limited enforceability.  Employers need a contract that will protect them from unfair competition and fraud.  Employees need a contract that will protect their right to go back to work after the termination of the employment agreement.

Customer relationships are the life’s blood of every company.  Customers can also be your downfall.  Your customer contracts should provide clear directions regarding your obligations and responsibilities.  They should also clearly state what is not in the contract.  The legal and financial impact of each customer contract should be carefully considered.  As a rule, there are two things that will often bankrupt any new company.  One is not enough sales.  The second is too much sales.  Careful planning can literally save the business.

Businesses that are owned by more than one person must all deal with conflict issues.  Disagreements between owners can be easily resolved with advanced planning.  Or, they can be the end of the road for the company.  Buy-Sell agreements, shareholder agreements, operating agreements, and the like can all be designed to protect the continuation of the company and increase the value of the company for all the owners.

Vendor relations are vital to almost all businesses.  Sometimes vendors do not live up to their responsibilities.  Sometimes they file for bankruptcy.  Each new vendor relationship contains possible risks and benefits.  A clear understanding of what you are getting in to, can often mean the difference between failure and survival.