With our state opening up again and more and more people getting out to enjoy the lakes, restaurants, and all that summer in Minnesota has to offer, people are trying to get back to business as usual. Businesses in turn are creating their state-mandated plans to keep...
Many individuals start their small business as a sole proprietorship or as a simple general partnership with a friend. At some point, the question always arises, "Should I form an LLC or a corporation?" Minnesota has a variety of different types of corporate entities...
For anyone who established a limited liability company (LLC) prior to August 1, 2015, you probably received an email from the Minnesota Secretary of State recently letting you know of certain changes in the law. Effective January 1, 2018 all LLCs will be subject to...
A buy-sell agreement is typically associated with the ownership of a small business. As the name might imply, a buy-sell agreement defines the terms under which an owner of a business can buy out or sell out to others - other owners, third parties, etc. With multiple...
Selling a business: If you're the owner of a small business and are in the market to sell, don't be intimidated by what sounds like a herculean task. Move forward by breaking the business selling process into manageable pieces. The preliminary steps are often the most...
It's tournament time in Minnesota, and that reminds me how much we relish competition. Sports, music, television and movies all compete for ratings and rewards. Even Aunt Sally's choke cherry jam might win a blue ribbon at the county fair. And in business, we have...
