Published On - May 19, 2021
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
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
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...