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What's in a Name? A Short & Sweet Guide to Michigan's Entity Name Rules

  Part 1: Introduction You have decided to create a business entity in Michigan, congratulations!   One of the most important steps in entity formation is choosing a name—it tells the state and the public a lot about your business.   Maybe you already know what name you want to choose.   Maybe you are overwhelmed by all of the rules you have seen online.   Maybe you fall into both (or neither) of those categories. Keep reading to learn more about what you may and must include in your business’s name, what you cannot include in your business’s name, and where to find additional resources. Part 2: The Dos You May. . .             Often, the name is the first thing consumers see about a business.   Because first impressions are so important, it is a great idea for your business’s name to be a reflection of the service(s) you provide, your business’s mission, or some other related facet of your business. For example, under § 212(c)(3) of the Michigan Nonprofit Corporation Act,
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Michigan Low-Profit Limited Liability Company (L3C): Mixing Social Impact and Profit

              Given the variety of legal structures, it is essential to pick the one that is best for your business and the goals you’ve laid out for them. And, in this age of conscious consumerism, businesses have looked towards merging both societal benefit and profit. [1] With that in mind, businesses are looking towards the sort of entity forms that provide a structure to achieve this dual-pronged purpose. One such entity in particular that has gathered attention is the relatively new statutory business entity the Low-Profit Limited Liability Company (L3C) . [2] An L3C is considered an entity for entrepreneurs who “value purpose and profits,” and is intended to provide entrepreneurs with the opportunity to form an entity that caters to both these goals. [3] The L3C is the states’ response to the demand of a growing number of social entrepreneurs that seek to combine the financial benefits of a traditional for-profit entity with the social benefits of a non-profit. [4] While th
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A Breakdown of Fair Use

Is your small business trying to spruce up your website by adding some new pictures? Want to raise money for your nonprofit by hosting a community movie night? Trying to update your marketing materials with a brand-new promotional video with cool background music? If so, you could be opening yourself up to potential copyright lawsuits and should read up on the doctrine of fair use! An important aspect of starting a small business or nonprofit is exposure, and as organizations work to market themselves and increase awareness of their goals and activities in the communities they serve, they could open themselves up to legal danger. Litigation is expensive, and the cost can be especially devastating to small businesses and nonprofits. In all promotional or informational materials (including brochures, flyers, websites, etc.), organizations need to be sure that they are legally protected from copyright infringement claims.   What is Fair Use? Fair use is a legal doctrine that permits
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