How Spendthrift Provisions Work

February 28th, 2018

A well-written, complete estate plan gives the maker a sense of contentment, peace of mind, and accomplishment. However, while drafting a Will or trust, people may ask themselves some tough questions about the fiscal responsibility of their beneficiaries. Fortunately, estate planning tools like spendthrift provisions may take care of the irresponsible heirs in our family… Read More

What Is Indemnification?

February 27th, 2018

Fine print. Seems like contracts are full of it. The clauses and provisions that make up a contract each have a specific purpose, though. Indemnification, for example, is often used to protect a party to a contract. That may sound simple, but can be complicated and costly if entered into lightly. Indemnify means to compensate… Read More

Protecting Your Intellectual Property

February 26th, 2018

The intangible nature of intellectual property makes it difficult to protect. You can’t just park a security guard next to your intellectual property to keep people from stealing it. In fact, intellectual property (“IP”) has been defined as “… a collection of ideas and concepts…”  Though harder to protect than your company’s computer equipment or… Read More

Are Your Season Tickets an Inheritable Asset?

February 23rd, 2018

A person’s estate consists of assets they own at the time of their death. Common assets include cash, real property, sports paraphernalia, and jewelry. It can be difficult to characterize some property, though. For example, if you own season tickets for any sports team, passing them on to the next generation can be tricky. Season… Read More

Appealing a Property Tax Assessment

February 21st, 2018

For many people, real property makes up a large part of their portfolios. The assessment made every year by the Minnesota Revenue affects the value of the real property and the property owner’s annual tax bill. After property values are assessed or estimated, counties send the owners a Notice of Valuation and Classification stating their… Read More

Factors to Consider if Your Company Faces Merger or Acquisition

February 19th, 2018

Maybe you’re a business owner whose company is humming right along, all cylinders firing, prospects look good. Or maybe your company is facing increased competition, higher costs, and lower profits that hinder growth and expansion. Either way, another company or investor may approach with a merger or acquisition proposal. What factors should you consider if… Read More

When Breach of Contract Leads to a Lawsuit

February 16th, 2018

In December, seven Tim Hortons restaurants located in Minnesota were sued for breach of contract and other claims. This is not the first time Tim Hortons and its parent company, Restaurant Brands, have been involved in litigation involving breach of contract allegations. In June 2017, several Tim Hortons franchisees filed a lawsuit against Restaurant Brands… Read More

Minnesota Shareholder Rights

February 14th, 2018

Two business entities typically have minority shareholders:  a corporation or a limited liability company (LLC). In any situation where majority shareholders and a minority shareholder disagree, the majority is likely to win. Both groups have rights, even though the majority may win out in a dispute. However, Minnesota statutes set forth specific provisions regarding shareholder… Read More

Minnesota Letter of Intent Law

February 12th, 2018

The parties involved in a transaction both have things they want or need. Every part of their negotiation is important to the success or failure of the deal. A letter of intent prepared and signed by the parties may memorialize the terms and conditions in an attempt to deal with future disagreements that threaten the… Read More

Going Public: Is an IPO in Your Company’s Future?

February 9th, 2018

When a private company makes an initial public offering of stock, it’s called an IPO. Most of us have heard of a company IPOs because stories about IPOs make the news. Many of you may have even bought stock in a newly-public company. And if you’re a business owner? You may have wondered if going… Read More