When it is all on the line, you need a fierce advocate. We honor that trust. The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney, nor do you have an attorney-client relationship with Schwartz Law Firm unless and until the same is…
Forming a limited liability company (“LLC”) or corporation is a way to separate your personal and business assets (“the corporate veil”). Whether it be a LLC or a corporation, the business is statutorily required to have a registered agent within the state for service of process. The registered agent can be one of the business owners or a third-party service. …
A common question often arises when forming a business as to what is the difference between a LLC and an S-corp. There are a number of similarities and some distinguishing factors which may impact the decision on which entity to form. In forming both a s-corp. and a LLC, articles are filed with the secretary of state to commence the…
Few people go into a business relationship thinking about when the partnership will fail. Partnership agreements can help ensure that the business does not fail (at least not due to internal fighting) as well as set a path towards amicable separation should disputes arise. Of course, not all business relationships end with litigation or acrimoniously. Many partnerships have only minor…
One of the most common questions I get asked is whether non-competes are enforceable in Minnesota. The answer, like most things in the law, is that it depends on the circumstances. Often times, newly hired employees are required to execute non-competes (also referred to as restrictive covenants) as a condition of commencing employment. The employer is generally focused on protecting…
That all depends. The type of business, tax consequences, liability protections, and goals all impact what type of entity will provide your business with the ability to meet your goals. It is important to take the time to discuss what your business will be doing, how it will be doing it, and what the goals of your business are with…
Our clients range from international and highly successful businesses to small start-ups to individuals. We treat our clients the way we would want to be treated – that your case is the most important case pending, because it is for you. We do not advertise. Our business comes from referrals. Sometimes opposing counsel. Sometimes opposing parties. But most often, from…
Earlier, we posted about what piercing the corporate/limited liability company (“LLC”) veil means. Today, we are providing tips to take to avoid veil piercing claims against your business. Piercing the corporate veil generally becomes an issue when the entity is being sued and the plaintiff is concerned that the corporation/LLC alone will be unable to satisfy the debt or otherwise…
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…