Blog – Page 13 – Schwartz Law Firm

Published On - May 19, 2021

Brandon UncategorizedTags: disputes, owner, shareholder

HOW BUSINESS DISPUTES TYPICALLY START AND EVOLVE.

The reasons an owner dispute is triggered are never the same. Having handled several member and shareholder litigations, none of the disputes started the same way or involved the exact same circumstances. There are, however, some common themes that oftentimes lead to a dispute between owners. ...

Published On - May 12, 2021

Brandon UncategorizedTags: closely held, public, shareholder, stock

WHAT IS THE DIFFERENCE BETWEEN A CLOSELY HELD CORPORATION AND ONE THAT IS PUBLICLY TRADED?

Most businesses in Minnesota are considered “closely held”. As it relates to a corporation, that means having 35 or fewer shareholders. Shareholders are the individuals that hold stock in the corporation – they are the owners. Being a shareholder in a closely held corpora...

Published On - May 5, 2021

Brandon UncategorizedTags: Business, duty, shareholder

DO I OWE MY FELLOW SHAREHOLDER(S) ANY DUTIES?

A frequently asked question for closely held corporation shareholders is whether the shareholders owe each other any fiduciary duties? The answer is yes. In a closely held corporation, defined as a corporation with 35 or fewer shareholders, shareholders owe a duty to deal openly, h...

Published On - April 28, 2021

Brandon UncategorizedTags: case, evidence, jurors, trial

TRIAL CONSIDERATIONS

As a board-certified civil trial specialist, I have been fortunate enough to have been entrusted with handling my fair share of cases to conclusion at trial (both court and jury) and arbitration. This is rare nowadays. The vast majority of cases (95% plus) settle short of trial. Trials are ris...

Published On - April 22, 2021

Brandon UncategorizedTags: contract, employment, non-compete

NON-COMPETES – ARE THEY ENFORCEABLE IN MINNESOTA?

One of the most common questions I get asked is whether non-competes are enforceable in Minnesota. The answer, like most things in the law, is that it depends on the circumstances. Often times, newly hired employees are required to execute non-competes (also referred to as restrictive covenant...

Published On - April 14, 2021

Brandon UncategorizedTags: family business, retirement, succession planning

RETIREMENT/SUCCESSION PLANNING FOR YOUR BUSINESS:

For most closely-held business owners, their business constitutes all or a large part of their assets and retirement savings. These owners have been pouring blood, sweat, tears and their savings into keeping the business running. As such, ensuring that the business they worked hard to de...

Published On - April 7, 2021

Brandon Business Law, Company Formation, UncategorizedTags: c corp, entity, llc, partnership, s corp

WHAT IS THE RIGHT TYPE OF ENTITY FOR MY BUSINESS?

That all depends. The type of business, tax consequences, liability protections, and goals all impact what type of entity will provide your business with the ability to meet your goals. It is important to take the time to discuss what your business will be doing, how it will be doing it,...

Published On - March 31, 2021

Brandon Business Law, Business LitigationTags: claim, misappropriation, trade SECRET

WHAT IS A “TRADE SECRET”?

When an employment/independent contractor relationship ends, there are certain considerations on next steps for both the company and individual. We talked earlier about non-competes and the implications of the same. Another issue that often arises is what to do with the information an em...

Published On - March 24, 2021

Brandon Company Formation

ABOUT THE FAMILY BEHIND THIS FAMILY BUSINESS.

Our clients range from international and highly successful businesses to small start-ups to individuals. We treat our clients the way we would want to be treated – that your case is the most important case pending, because it is for you. We do not advertise. Our business come...

Published On - March 17, 2021

Brandon Business Law, Company FormationTags: corporate veil, protecting business, series

Steps to take to avoid veil-piercing claims against your business.

Earlier, we posted about what piercing the corporate/limited liability company (“LLC”) veil means. Today, we are providing tips to take to avoid veil piercing claims against your business. Piercing the corporate veil generally becomes an issue when the entity is being sued and the plaintif...

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HOW BUSINESS DISPUTES TYPICALLY START AND EVOLVE.

WHAT IS THE DIFFERENCE BETWEEN A CLOSELY HELD CORPORATION AND ONE THAT IS PUBLICLY TRADED?

DO I OWE MY FELLOW SHAREHOLDER(S) ANY DUTIES?

TRIAL CONSIDERATIONS

NON-COMPETES – ARE THEY ENFORCEABLE IN MINNESOTA?

RETIREMENT/SUCCESSION PLANNING FOR YOUR BUSINESS:

WHAT IS THE RIGHT TYPE OF ENTITY FOR MY BUSINESS?

WHAT IS A “TRADE SECRET”?

ABOUT THE FAMILY BEHIND THIS FAMILY BUSINESS.

Steps to take to avoid veil-piercing claims against your business.

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