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Do you suspect your business partner is stealing money from the company’s bank account? Are jobs you should be getting not being signed up and you think are diverted somewhere else? Does it seem like your partner is taking more than his fair share in expenses, perks or draws? Or maybe your partner isn’t pulling his weight like you agreed…
When the student challenges the master in a Hollywood movie, it is usually a feel-good moment that leaves the audience rooting for the underdog to win. When it happens in the world of business, however, the situation is sure to be more complicated, have higher stakes, and leave both sides feeling apprehension about what to do next. MKT Law in…
In our last blog post – Anatomy of a MN Lawsuit: In the Beginning There Was a Complaint – we discussed what comes first in a typical lawsuit, how the facts alleged in the Complaint are made, and the process of being summoned to Court. Before we get too far ahead and dive into the core of litigation, we need…
For most folks, the thought of being sued is troublesome, if not outright terrifying. A lawsuit of any kind instills anxiety, fear, and many misunderstandings. Usually this is a product of unknowns and uncertainties. The best way to regain some peace of mind is through information and cold, hard facts. As a public service to all small business owners, this…
Whether you are a shareholder in a closely-held corporation, one half of a partnership, or a member of a limited liability company, you and your business partners owe each other a lot. You are supposed to put the business’s interests before your own. You are supposed to be loyal. You are supposed to act in good faith. Likewise, your fellow…
Contracts can seem like fickle beasts, at best, unless you understand them inside and out. The trouble is that even if you fully comprehend everything about your business contracts, the people on the other end of it might not. Misunderstandings or misinterpretations of the rules and regulations in your shared contract could lead them to believe that you have breached…
The changes shared in part one and two of our three part series are certainly significant, but there are other changes coming with the New Act. In our third and final blog post to wrap up this series, we address six other points of interest that will impact LLCs throughout Minnesota. What else does the New Act change about LLCs?…
Part one of our series introduced the New Act that has a direct impact on all LLCs in Minnesota. While derivative claims are a large part of this New Act, that’s not all that will change beginning August 1. Dissenter’s rights are uniquely affected by the law and can be a good thing or a bad thing for your company,…
Coming this summer to a business near you, you will see a brand new limited liability company organized under Minnesota law. After August 1, 2015, all LLCs in Minnesota will be organized under the newly enacted Minnesota Statutes, Chapter 322C a/k/a the Minnesota Revised Uniform Limited Liability Company Act (the acronym is obnoxiously long so we’ll just call it the…
Anyone visiting this blog can click the link and be taken to a website to read about the following publication that I am an author who donated one whole section! It’s surely a page turner! JUDGMENT ENFORCEMENT IN MINNESOTA CD & Reference Manual Multiple CD Set with bound 326 page manual Copyright 2014 If you are interested in this product…