Lori’s Vignette’s - Legal
Real Estate Update: short sales, loan modifications, foreclosures
I interviewed several local professionals in the real estate industry to learn their perspectives on our local real estate market. I thought I’d share their perspectives with you in this real estate blog series. This issue focuses on short sales, loan modifications and foreclosures. Next week I’ll discuss how doctors are being impacted by the foreclosure market. Week three will focus on Brownfield Redevelopment legislation and its positive impact on Michigan.
Film Tax Incentives: Good for Michigan
With reform of the film tax legislation and proper planning and execution, Walker believes that “there is potential to create a great new industry in Michigan that can increase employment and revenue over time.” Adrian Walker is the CEO of First Element Entertainment, a film production company based in Detroit. First Element Entertainment recently produced an independent film, called The Art of Power. See trailer of film …
Minimizing your tax consequences
Businesses are taxed differently, depending on the type of entity they have created. This can also impact the business owner with respect to their personal tax consequences. There are legitimate ways to decrease tax liability for both the business and the owner.
Intellectual Property Basics
At our lunch and learn last month, Matt Bower shared some tips for all the professionals and business owners present, regarding intellectual property issues that could impact their business. The following information is Matt’s summary of the common types of intellectual property protection available. Ask yourself if any of these protections apply to you. You may want to seek counsel to ensure you have adequately identified and protected your intellectual property rights, since doing so can significantly enhance the value of your business.
Protect your intellectual property and your business
Entrepreneurs are, by their very nature, energetic risk-takers often with a singular focus on launching their product or service. That kind of dedication and focus is terrific for getting to market and developing value quickly. Unfortunately, that “get-it-done-and-work-out-the-problems-later” approach can have tragic consequences where the business’s intellectual property is neglected in the process; particularly for today’s startup businesses where IP (such as software, patents, and trademarks) plays a vital part. If the IP is not secure, the entire business value is in jeopardy. If the business value is in jeopardy, it may be very difficult finding investors or carrying out an exit strategy.