HOW TO FORM YOUR BUSINESS.
Last week we discussed considerations for what state to form your business in. Entrepreneurs most also decide what type of business to form. This post focuses on how to form your business. To legally incorporate under the Model Act, applicable to Minnesota corporations, an incorporator must si...
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...
COMMON CAUSES OF LITIGATION BETWEEN OWNERS
The reasons triggering a dispute between owners 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 often times lead to a dispute bet...
Calculating the value of your business when it comes time to part ways.
One of the hardest decisions a small business owner has to make is parting ways with the business they have dedicated blood, sweat, tears and treasure to build and/or grow. The difficulty of this decision is compounded if there is not an agreement with the other owners as to how to calculate a...