In many of our law firm’s articles, we try to impress upon our readers the importance of completing an estate plan. We describe potential problems, conflicts and expenses that a well-drafted estate plan can help prevent and address, if necessary. For a small business owner, completing an estate plan is particularly important because running a business involves more complexity than…
If you have answered the call to be your own boss and start a business, it’s important to understand the different roles a business owner plays. We sometimes describe this as ‘wearing different hats’ when owning a business. For each role, a business owner has distinct considerations and responsibilities. Businesses are generally corporations or limited liability companies (LLCs), and their…
It’s sad and unfortunate that we feel that we have to write this article, but it’s important to let you know that criminals are quickly developing scams and fraud schemes to take advantage of the COVID-19 crisis. First, find reliable sources of information and when in doubt, stop and verify. The Minnesota Attorney General, the Better Business Bureau of Minnesota…
The worldwide outbreak of COVID-19 can’t be ignored or denied. It’s safe to say that most of us did not expect an outbreak to develop so quickly or the dramatic changes a pandemic brings to our communities, workplaces, and lives. As we stay home, stay away from others, and cope as best we can with this health and economic crisis,…
It’s that time of year again. The holidays, of course, and also the time to complete the annual renewal for your business entity with the Minnesota Secretary of State. Annual renewals are required for corporations, limited liability companies, non-profit corporations, cooperatives, and limited/limited liability partnerships. An annual renewal is also required for assumed names and foreign registrations for out-of-state entities.…
We regularly set up new limited liability companies and corporations for our clients. To do so, we file the Articles of Organization or Articles of Incorporation with the Minnesota Secretary of State. This filing is the official registration of the new business entity, and it creates a public record with information about the company. Anyone can go to the Minnesota…
Artistic expression manifests in our personal and professional lives more than we may realize. When an artist finishes a painting, a fishing guide writes a description of her services for a brochure, or a beekeeper posts information about types of local honey on his blog, they all create original works—in other words, intellectual property. Federal copyright laws, along with trademarks…
If you own and operate a small business in one of our lake communities, you know the importance of name recognition. A unique business name and logo can help a business stand out and get noticed by potential customers. Picture the logo for Sea Ray boats – it looks like a stylized silver wave and makes it easy to spot…
In recent articles for this column, we have talked about the benefits of owning a home in an Association community. We have also talked about the overall framework for the operation and governance of an Association. In today’s article, we outline the role and responsibilities of an Association’s Board of Directors. Our law firm has expertise on laws governing Associations…
Minnesotans start thinking about vacations this time of year. For small business owners getting away for a week or two presents some challenges, and an unexpected health event or accident presents even more challenges. Successful business owners are skilled at managing the many aspects of running a small business, but they need a break from time to time just like…