Owning part of a corporation doesn't always mean you know what's going on inside it. Maybe a shareholder suspects money problems or just wants a clearer view of how the business runs. Either way, Minnesota law spells out what records they can ask for and when. Knowing...
Sometimes a business partner tells you, before the work is even due, that they don't plan to hold up their end of the deal. This situation has a name: anticipatory breach. It happens when one side clearly says or shows, ahead of time, that they will not perform the...
When a company suffers losses and someone blames the board, the lawsuit that follows may name individual directors rather than the corporation alone. In this scenario, you might have some questions about what your options are to protect yourself and the business. When...
When a business relationship breaks down, you may decide that the easiest way to reduce conflict is to limit a minority owner's role. You may think that excluding that owner from some decisions will help management focus on the company again. However, a minority owner...
Building a successful business takes years of focus and sacrifice, and losing your role in it can feel like losing everything. In Minnesota, a business partner can technically fire you, but if they use that power unfairly, the law gives you options to fight back. When...
You took an ownership stake in a Minnesota company, expecting a voice in how the business runs and a fair share of what it earns. Now your majority partner has cut you out of meetings, ended your salary or stopped distributions while their own income keeps flowing....
A minority shareholder in a closely held corporation often finds themselves in a vulnerable position. Unlike a public stock, you cannot simply sell your shares on an open exchange if you feel unhappy with how the company runs. This lack of a market forms the...
In Minnesota, minority owners in a business have strong legal rights. These rights protect them from unfair treatment by the people who own most of the company. The law usually protects these small-scale owners from unfair treatment. However, there are rare times when...
Forced buyouts don’t happen just because shareholders disagree. They happen when the conflict hits a legal threshold. In Iowa, the law outlines specific situations where a court can step in and force one party out. Here’s what typically triggers that kind of...
How do business leaders breach their fiduciary duties? Breaches of fiduciary duty occur when business leaders and other people in a fiduciary position break their legal promise to act with their company’s best interests in mind. Being wary of when these breaches might...