During this time of thanks, we are especially thankful for the trust our clients place in us to handle their difficult cases and to serve them with passion. We wish you and yours a relaxing Thanksgiving. The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice…
The following description of procedures and suggestions for your conduct are general in nature and are presented to help you prepare for your deposition. There can be exceptions to these general rules, and reasons why these rules do not apply to your specific situation. Your lawyer should be the final authority on your conduct or testimony during the deposition. Be…
There are four principal uses for testimony given at a deposition: Evidence at the Trial. — A deposition may be used as evidence by an opposing party at the trial. Under certain conditions, a lawyer may read a part of the deposition to the jury, and the jury may consider the deposition in the same manner as if the witness…
Over the next couple of weeks, we will dive into depositions – what they are, how they are used, how to prepare for them, and what to be aware of. Depositions are a vital tool in a trial lawyer’s arsenal and civil cases are often successfully settled or won based on information gained during a deposition. So, lets dive in. …
‘Phantom stock’ can be an effective way to keep key employees or senior management with a corporation. Rather than receiving actual stock in the corporation, the employee receives ‘phantom stock’ that follows the price movement of the corporation’s actual stock and pays out the resulting profits of the corporation to the recipient. The benefit of phantom stock to the existing…
Last week we talked about ensuring ongoing communication to prevent conflict amongst the ownership group. Given the pandemic and perhaps with owners in different cities, states or countries, meeting face-to-face is not always possible. Is there a way to ensure proper documentation of actions taken by the business without having sit-down meetings memorialized in meeting minutes? Yes. A written action…
Many business disputes start because of a breakdown in the lines of communication. While most businesses start with two or more owners all on the same page and either family, friends or acquaintances, for whatever reason while the calendar pages of business ownership change, the communication suffers. Member/manager or shareholder/director meetings stop happening. And next the open dialogue in the…
Some businesses have flourished during the COVID-19 pandemic. Some have not. If you find yourself unemployed and looking to create your own business, how do you do that? In a perfect world, you have an attorney, an accountant and a banker as part of your business creation team. Your banker can help get your business bank accounts set up and…
Last week, we discussed how to request records from a corporation. Are there similar rights for a member of a limited liability company (“LLC”)? Yes. How to get the information depends on whether the LLC is a member-managed LLC or a manager-managed/board-managed LLC. Under Minn. Stat. § 322C.0410, a member may inspect and copy during regular business hours, at a…
You are a shareholder of a corporation. Maybe you are on your way out. Maybe you have been kept in the dark by the directors or other shareholders. Or maybe you have some other reason for simply wanting to know more about the corporation. Do you have a right to request records of the corporation? Yes. Under Minn. Stat. §…