Minority Business Owners’ Rights
Protect Your Investment and Enforce Your Rights
If you are a minority shareholder in a corporation or a minority member
in a limited liability company, you have significant statutory rights
that are afforded protection under Minnesota law. In fact, our state has
some of the strongest laws in the country when it comes to protecting
the rights of individuals without the power to effect change on their
own. At times, it may feel like you have no control over your business
because you own less than 51% of it. But you do have significant rights
and tools to protect and enforce them!
You may have just had the controlling owner “fire” you from
your job at your company, lock you out of your own business, strip away
your voting rights and roles as an officer or director (Inc.) or as a
manager or governor (LLC), so you no longer have any significant say in
running the business you own. If you have not seen the company’s
books and records despite requesting them, are not paid in a way that
is fair compared to your businesses’ other owners, or are being
excluded from the daily management and owner’s meetings, you may
need legal counsel. In the event you no longer have a say in significant
decisions that affect you and your business, then you may need the help
of a St, Paul business litigation lawyer with significant experience enforcing
the rights of minority owners’ of Minnesota businesses. All of these
actions can be considered unlawful and entitle you to help from the court.
At MKT Law: Litigation is our Business.
Business Owners’ Rights under Minnesota Law
Under Minnesota’s Business Corporations Act (MBCA), located in Minnesota
Statutes Chapter 302A, or the current Limited Liability Company (LLC)
Act, located in Minnesota Statutes Chapters 322B, and under the new Revised
Uniform Limited Liability Company Act (effective January 1, 2018), you
have rights built into the law to protect you due to your weaker status
as a non-controlling owner. Most of these protections cannot be taken
away by the controlling owner no matter how much he or she may want to,
try to, and think they can or have. It can be illegal to strip you of
your ability to actively be involved with your company, to be employed
by your company, and to withhold information about your business’
financial condition. If this is happening to you, call MKT Law, PLC today
and speak to an experienced litigator who can help protect your ownership
rights in your business.
Minneapolis litigation attorney Fighting for Your Rights
Stand up for your rights and call our Minneapolis and St. Paul business
litigation attorney who can work to help make sure your rights are enforced
and not violated. It is because you do not own a controlling interest
of your business that Minnesota law can protect you from unfair actions
by the majority owners of your business.
Do not be taken advantage of or allow the other shareholders to walk all
over you. Call the experienced business litigators at MKT Law, PLC for
help with aggressively protecting your rights. We will stand up and fight
for your rights and work to have the individuals in control of your business
follow the letter of the law.
As a minority shareholder in a corporation or member of a limited liability
company, you have rights:
- Right to an active say in the management of your company
- Right to information
- A reasonable expectation of lifetime employment
- The right to be treated fairly, openly, and honestly by the other owners
Solving Minority Shareholder Disputes
If you are being treated unfairly, being lied to, or your businesses’
financial status is being kept a secret from you by your partners and
co-owners, our business lawyers at MKT Law, PLC can help. Schedule your
initial consultation with our seasoned Minneapolis business litigation
attorney. They have extensive experience with many types of businesses
going through ownership disputes and with minority owners being stripped
of their ability to participate in—and even be employed by—their
Mark has had his writing on the MBCA under Minn. Stat. § 302A about
enforcing and applying litigation rights in this area of business law
published in the scholarly publication the
Hamline Law Review. He understands this law’s inner workings and you can use this knowledge
to your advantage and for the protection of your rights.
Contact our litigation attorney who can help you enjoy all of your rights
the law affords you. We represent clients throughout Minneapolis and St.
Paul. Get your business back or get out on fair and just terms.
Contact MKT Law, PLC today
at (612) 260-5109 for reliable legal counsel.