When an employment/independent contractor relationship ends, there are certain considerations on next steps for both the company and individual. We talked earlier about non-competes and the implications of the same. Another issue that often arises is what to do with the information an employee/independent contractor gains from the company. This information can constitute a “trade secret” and is provided extra…
Going through a divorce is difficult. Going through a divorce when you are a business owner adds another liar of emotional and financial stress to the equation. So what happens in Minnesota when a business owner goes through a divorce? Under Minnesota law, martial property must be equitably (not equally) divided. Entrepreneurs who face divorce have concerns about how their…
The reasons triggering a dispute between owners 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 often times lead to a dispute between owners. Usurpation of corporate opportunities, owners standing on both sides of a transaction, and…
One of the hardest decisions a small business owner has to make is parting ways with the business they have dedicated blood, sweat, tears and treasure to build and/or grow. The difficulty of this decision is compounded if there is not an agreement with the other owners as to how to calculate a buy-out of the departing owner’s ownership interest…
Starting a business with your family or friends can be a dream come true. You are your own boss and control your own destiny. While most of these relationships result in long-lasting and prosperous businesses, some do not. Having handled business disputes throughout the country, there are some common themes that ultimately result in litigation between the family business owners.…