Detroit business owners have plenty to worry about during day-to-day operations. This preoccupation could lead them to overlook one very basic aspect of their business -- its structure. From sole proprietors to limited liability corporations, there are many different types of business structures, each having a potential effect on your taxes or how the company operates.
Johnson & Johnson to pay $1 billion to settle litigation
Johnson & Johnson, the largest manufacturer of health products in the world, has not been immune from a rash of recalled products and other business litigation, some of which has directly affected customers in Michigan.
Small Michigan hospitals look to merge
The last independent hospitals in Michigan are feeling the effects of doing business as a freestanding company. That could be why the 37 hospitals that remain independent are looking around for larger hospitals to potentially merge or affiliate with.
It's best to incorporate at the beginning of the year
Most business planning experts will be quick to point out the benefits or incorporating your business or forming a limited liability corporation here in Michigan or elsewhere throughout the country. Taking these measures with your business will help save it money with taxes and limit your own personal liability as owner.
Apple to appeal decision on possible patent violation
Many people in Michigan have witnessed the huge success of the iPhone and iPad over the last few years. In fact, many Michiganders are likely equipped with these state-of-the-art devices. But, because of the success by Apple -- the company that produces these electronics -- other companies have rushed production efforts to construct and market similar products.
