Business Formation

WDFI Warns of Corporate Records Service Scam

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The Wisconsin Department of Financial Institutions has said in a news release on Thursday that numerous business owners have been receiving a solicitation for information and credit card numbers to pay a fee to “Corporate Records Service.” The form comes pre-filled with very specific corporate information (available on-line) which makes it seem official. The WDFI […]

Business Formation

Do I need a license for my business in Wisconsin?

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There are a number of different regulations and licenses that a small business has to deal with. The most often overlooked is the requirement from each city for specific licensing. The State of Wisconsin requires licenses for a number of businesses from Accountants and Acupuncturists to Wild Rice Harvester and X-Ray Services. You can see […]

Business Formation

Why do I need an Operating Agreement for my LLC?

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There are two key documents with regards to forming an LLC in Wisconsin. The first is the Articles of Organization, which is filed with the Wisconsin Department of Financial Institutions (WDFI). The second is the Operating Agreement, which outlines the agreement between the members (which could be thought of as the “partners” in the business.) […]

Business Formation

Difference between LLC and LLP (part 1 of 3)

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Those starting a business often wonder what the difference is between an LLC and an LLP. In Wisconsin it can be a lot different. The first major difference is that one is a Corporation, the other is a partnership. This may seem obvious, but it can have very severe tax differences and liability differences. There […]

Business Formation

The Benefits of a Joint Venture

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There are many situations where two existing businesses, or two just starting entrepreneurs want to jointly take on an endeavor, but do not want to be so tied to each other as to be the same entity. This is where a joint venture can come in handy. It creates a legally binding relationship, and if […]

Business Formation

Where is the real value? In the Company or the Employees?

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Often, when a company is looking to acquire another business, it looks at all of its gleaming equipment and its wonderful balance sheet as the reason to purchase the company, but in reality all of that success is probably more tied to the employees that work there then the systems or equipment associated with the […]

Business Formation

Difference between an Asset Purchase and a Stock Purchase

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There are two mainstream ways that Businesses go about acquiring other businesses. This is through either an Asset Purchase or a Stock Purchase. There are advantages and disadvantages to both approaches, taking a look at what you want to accomplish will go a long way towards helping you decide which method to take.

Business Formation

What Happens when one Partner Leaves a Partnership?

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In a January 2007 decision, Estate of James H. Matteson v. Robert R. Matteson et al. , the Wisconsin Appellate court takes the time to further clarify its decision from Lange v. Bartlett , 121 Wis. 2d 599, 602 which stated [W]hen one partner leaves a partnership and allows the other to continue the business, […]

Business Formation

The Problem with On-Line Form Contracts

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If you are looking to start a business in Milwaukee, Wisconsin, or already own a business in the Wauwatosa or Milwaukee area, you might think, “I can save some money on using contracts and business formation services from an on-line website.” And this is true, you will certainly get a cheap alternative. Of course, as […]

Business Formation

How will the bailout effect businesses in Milwaukee?

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It really remains to be seen what the actual effects will be, but I am optimistic that things are moving in the right track. Regardless of your political leanings and whether you feel it was “deserved” or not, the bailout was necessary because the flow of money had seized up. You can think of the […]

Business Formation

Why choose an LLC? All of the benefits without a lot of the hassle

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LLCs in Wisconsin have become the entity de-jour for new businesses in Milwaukee and the rest of the state. The real strength of the LLC is its ease to set up and maintain and its versatility.  An LLC provides all of the liability protection of a Corporation. The same rules generally apply about piercing the corporate veil. […]

Business Formation

Business Valuation and Tax Ramifications

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Buying a business can be more complicated and have greater tax ramifications then one may first realize. Generally speaking there are two different values to a company, the book value and the actual value. When you are buying a company with significant assets there will be significant research, perhaps by a business valuation company, into […]