In Part 1 of the series on business combinations - mergers, strategic partnerships or joint ventures - we highlighted the 4 factors to consider before entering a term sheet or deep due diligence of a business combination: (1) Alignment of Character/Business Philosophy; (2) Human Capital and Physical Assets; (3) Market/Product/Reputation; and (4) Financial Health. 

Charles Schwab once said, “I consider my ability to arouse enthusiasm among men the greatest asset I possess. The way to develop the best that is in a man is by appreciation and encouragement.”

I am fortunate enough to be employed by a company who believes in this. It is for that very reason that I would like to share my story.

When dealing with smaller corporations owners/shareholders often have a more involved role in a business. Just because they are an owner, however, does not mean they have unlimited all inclusive access to the records of the corporation.  Indiana law requires that a corporation keep and maintain certain records. Shareholders of a corporation are entitled to inspect and copy these records, but only under certain circumstances.  The records are broken down into two groups, notice only and proper purpose.

Entrepreneurs often cite the limited liability protection afforded them by way of forming a corporation or a limited liability company as a primary purpose in creating the entity.  Sure, there is the aura of sophistication and achievement that comes immediately along with it (as well as several other benefits), but this personal protection seems to be a key factor in most formation decisions.

This summer, I completed my legal summer internship at Gutwein Law.  I am truly amazed at how much I learned in the 12 weeks that I was here.  From day one, the attorneys gave me exciting and complex issues to work on and these experiences allowed me to develop and grow as a professional and an individual.