a Detroit & Chicago Business Organizations Legal Blog | Pentiuk Couvreur & Kobiljak PC
Pentiuk, Couvreur & Kobiljak, P.C.
Call Us For An Initial Consultation :
734-407-7193 (Wyandotte, MI) 773-435-9064 (Chicago, IL)

Detroit & Chicago Business Organizations Legal Blog

Re-evaluating S and C corporation benefits

Like their counterparts around the nation, business owners, entreprenuers and executives in Michigan and Illinois are likely very interested to learn how the new tax plan might change some of the decisions they make about their ventures. One of these key decisions often faced is whether to establish a business as a traditional C corporation or as an S corporation.

As explained by Inc. magazine, many small businesses in particular have historically been able to benefit from an S corporation structure over a C corporation structure largely due to the difference in taxation and the high tax rate associated with C corporations. Now that this tax rate will be cut dramatically, it might be time for people to re-evaluate the type of structure used.

Basics of confidentiality agreements

If you run or own a business in Michigan or Illinois, you know that there are times when your work with other entities requires you to share some information about your business that may be sensitive. If you believe this is something you should do, it is important to know how to protect your business so that this sensitive data is not stolen, inappropriately shared or used against you in some way.

As explained by Forbes, a confidentiality agreement or a non-disclosure agreement as it is also called, is a special type of business contract that protects you and your company when you must disclose information to another entity. These contracts can stipulate information shared between the parties must remain confidential and not be disclosed to any other parties. It is important that an NDA be appropriately clear as to what data must be kept private including the format in which the information is shared such as in writing or orally.

What is a limited partnership?

As business-minded folk in Chicago like you work toward making your entrepreneurial dreams a reality, you're likely to run into questions of whether or not to get other people involved in your plans. There are plenty of different partnerships you can look into, and each offers its own benefits. Let's take a look at limited partnerships first.

The Balance sheds light on limited partnerships and their use, starting off with the telling nickname that limited partnerships are also known by: silent partners. This is because every limited partnership has one general partner and one or more limited partners. In this style of business, the general partner is the one that makes all of the decisions. This means you don't have to answer to anyone else when you run the daily management; all choice-making is in your hands.

Point of Order

Far too often the beautiful Robert's Rule is misused during a Board meeting and used to abuse a speaker. Often, it is because of a misunderstanding of parliamentary procedure but sometimes it is to further individual agendas. The Rules of Parliamentary Procedure are put in place to protect meeting participant's rights and to assist moving business along. But when those rules are misused or abused, these rules can hinder and delay business; ultimately placing corporate action at a standstill to the detriment of not only the Board but the members the Board is elected to serve.

Considerations in choosing a business model

People who are creating new businesses in Illinois must at some point make a choice about how they will structure their new company. As explained by Entrepreneur magazine, there are multiple factors that should be reviewed in order to ensure that the right selection for the company's needs and goals is made.

How a company wishes to organize its management and decision-making may well play into the ultimate choice. So too will be personal liability which is retained by owners if they select partnership or sole proprietorship models. The ongoing cost and effort involved in maintaining whatever structure is selected should also be considered. Finally, taxation varies greatly between the different business types and even with a potential change to the tax stucture and code in this country, this factor cannot and should not be dismissed.

Unauthorized Occupants and What to Do

Ok, the Cooperative setting is uniquely awesome because we love our neighbors and know who our co-members are... well, usually. But wait, what happens when we do not recognize our neighbors Not because we have not been friendly or have not introduced ourselves, but because they are not the members!

Alterations to the Exterior of Dwelling Units

As the long and cold winter months descends upon the Midwest, the fleeting memories of hot and sunny summer days flood our thoughts. For many, having a shady outdoor patio to relax beneath is crucial for survival of those sweaty summer months. One may wish to install an awning, screened in porch, or a shade canopy to achieve the perfect shaded patio for your living space. But Members beware! Before taking steps for such an installation, Members must consult their governing documents. These may restrict various alterations that involve making changes to the dwelling structure, either externally or internally i.e. the same shaded patio you are looking to install. Members must adhere to their governing documents before modifying any general or common element of the Cooperative as most Cooperatives restrict the use of these types of sun-shade mechanisms in the above mentioned governing documents.

The Use of Probation and Conditional Occupancy Agreements in Resolving Litigation

When a cooperative elects to initiate eviction proceedings against a member whose conduct has violated the governing documents - for whatever the reason may be, not every case in a court of law is guaranteed win.  Sometimes key witnesses' testimony will change, sometimes witnesses will refuse to testify (even after issued a subpoena), or unfavorable facts may be unearthed during discovery.  Even if the cooperative has dotted every "i" dotted and crossed every "t," sometimes judges and juries will side with the resident member in an eviction case despite what the law and facts may show.  This is why most civil lawsuits settle. 

The Use of Probation and Conditional Occupancy Agreements in Resolving Litigation

When a cooperative elects to initiate eviction proceedings against a member whose conduct has violated the governing documents - for whatever the reason may be, not every case in a court of law is guaranteed win.  Sometimes key witnesses' testimony will change, sometimes witnesses will refuse to testify (even after issued a subpoena), or unfavorable facts may be unearthed during discovery.  Even if the cooperative has dotted every "i" dotted and crossed every "t," sometimes judges and juries will side with the resident member in an eviction case despite what the law and facts may show.  This is why most civil lawsuits settle. 

The Use of Probation and Conditional Occupancy Agreements in Resolving Litigation

When a cooperative elects to initiate eviction proceedings against a member whose conduct has violated the governing documents - for whatever the reason may be, not every case in a court of law is guaranteed win.  Sometimes key witnesses' testimony will change, sometimes witnesses will refuse to testify (even after issued a subpoena), or unfavorable facts may be unearthed during discovery.  Even if the cooperative has dotted every "i" dotted and crossed every "t," sometimes judges and juries will side with the resident member in an eviction case despite what the law and facts may show.  This is why most civil lawsuits settle. 

Contact

Wyandotte Office
2915 Biddle Avenue
Edelson Building
Suite 200
Wyandotte, MI 48192

Phone: 734-407-7193
Fax: 734-281-7102
Map & Directions

Chicago Office
33 North LaSalle
Suite 3350
Chicago, IL 60602

Phone: 773-435-9064
Fax: 773-289-0767
Map & Directions

Contact The Office

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy