What is the difference between franchising versus opening your own business? Buying the right franchise can be much easier than starting your own business. If you decide to become a franchisee, get the paperwork (known in the industry as a Franchise Disclosure Document) and see if you are eligible. You pay a fee to the franchisor, […]
Business ethics, also known as corporate ethics, is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. This concept applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Business ethics originate from individuals, organizational statements […]
While corporate law focuses on legal aspects governing the sale and distribution of goods, business law covers the legal aspects of mergers and acquisitions, the formation of companies and shareholder rights. Companies need people who have in-depth knowledge of both areas of law. If you imagine doing business without any legal means to protect your […]
Business law deals with the creation of new businesses and the issues that arise as existing businesses interact with the public, other companies, and the government. To understand the role of business law within the legal system, it helps to view businesses as entities separate from their owners and employees. Business law starts with setting […]
Real estate law is the area of law that governs buying, using and selling land. This law governs the acquisition of property and how it is developed. There are many different aspects of real estate law, for example, deeds, titles, purchase financing, zoning, taxes and estate planning. Real estate law is established by state and local jurisdictions, and encompasses the purchase and sale of real property. […]
Lost profits are determined by first estimating the lost gross revenue or lost sales due to an event. This lost revenue is then reduced by the avoided or saved costs, which entails evaluating all the direct and other costs related to providing goods or services. The party seeking an award of lost profits must show that: (1) the parties contemplated the possibility of lost profit damages […]
A franchise agreement is a legal agreement that creates a franchise relationship between a franchisor and a franchisee. Within a franchise agreement, the franchisee is granted the legal right to establish a franchised outlet and operation where the franchisee, among other things, obtains the license and right to utilize the franchisor’s trademarks, trade dress, business […]
The business judgment rule is invoked in lawsuits when a director of a corporation takes an action that affects the corporation, and a plaintiff sues, directly or derivatively (i.e., on behalf of the corporation), alleging that the director violated a duty of care to the corporation. The business judgment rule is a case law-derived doctrine in corporate law that, within certain bounds, courts will […]
Michigan is a shall-issue state. Licenses are issued at the local level by county clerks. A permit to purchase, a background check and firearms registration are required to buy a handgun from a private individual. Open carry is legal in Michigan with several restrictions. Open carry is allowed in more places than concealed carry as the restricted areas […]
Gov. Gretchen Whitmer is proposing a $180 million plan to boost the quality of tap water across Michigan, from replacing lead pipes and school drinking fountains to combating chemicals that are contaminating public supplies and private wells. It will help to implement tougher led-in-water rules, address contamination from chemicals known collectively as PFAS and give low-interest […]