The Briefing Room

When launching a new business, one of the most critical decisions you’ll make is choosing the right legal structure. Your business structure affects everything—from tax obligations and personal liability to fundraising potential and future growth strategy. In this guide, we’ll break down the differences between an LLC, S-Corp, and C-Corp,

Confused about whether to set up a will or a trust? In 2025, estate planning strategies continue to evolve, especially for high-net-worth individuals and business owners. Discover the key differences between wills and trusts—and learn which is right for you.

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FTC’s Recent Ruling Regarding Non-Compete Agreements: Safeguarding Business Interests and State Rights On April 23, 2024, the Federal Trade Commission (FTC) issued a landmark ruling on non-compete agreements, sparking intense debates about their validity and enforceability. While the FTC’s move may signal a shift in regulatory attitudes, it is The

Navigating New FinCEN Reporting Obligations for Beneficial Ownership: Guidance from The Private Firm At The Private Firm, we are dedicated to guiding and protecting your business through the complexities of legal compliance. As a comprehensive business law firm with decades of collective experience in navigating corporate filings and government requirements,

Navigating the complexities of estate planning has become even more challenging with a new IRS ruling that affects irrevocable trusts. Published in March, the rule alters how the step-up in basis applies to assets held in these trusts. If you want to ensure your estate plan is in compliance with

 Why Foreign Businesses Must Have a Michigan-Based Resident Agent and Registered Address The Private Firm: Your Trusted Partner for Meeting Resident Agent and Registered Address Requirements in Michigan. Foreign businesses looking to transact business in the state of Michigan must adhere to specific legal requirements to ensure compliance with the

      As the US economy heads for a likely recession in 2023, what should business owners do to prepare? Here are 10 simple steps to consider as we head in to a climate where: interest rates will likely continue to rise, competition will increase, lending will become increasingly

WARRANTS / PHANTOM STOCK:Phantom stock is a contractual agreement between the phantom stock plan participant and theemployer. The agreement gives the participant the right to cash payments at (1) specified timesor (2) specified conditions based on the market value of equivalent shares of the company.Some organizations may use phantom stock

Have you ever wondered why you would ever need a Limited Liability Company (LLC)? Here are seven compelling reasons to hire a local attorney to organize a new LLC: REASON ONE: LLCs offer limited liability and significantly reduce financial and legal exposure for the owners. In other words, LLCs can

Introduction A Buy-Sell Agreement is a legally binding contract between a business and its owners that lays out how significant events—such as death, divorce, disability, or departure of a partner— will affect the management and control of the business. A well-drafted agreement anticipates the intent and needs of the owners,