You had a great idea and created a business out of it! Congratulations! You took the initiative to form an entity, such as a corporation or limited liability company, to operate your business for a few good reasons. Not the least of which is to protect you, as a business owner, from being personally liable for the creditors of your business. So, you should be all set, right?
Oil is big business in the worldwide economy, since it is one of the most important energy sources used in Michigan and elsewhere. This makes owning a business in the oil industry potentially quite lucrative. Business evaluation experts indicate that many oil companies are worth billions of dollars. Now the controlling family of one of these multi-billion-dollar oil companies is planning to sell their highly-profitable and closely-held company.