Forming a business can be a daunting, but exciting task. When you form your business, it is not only important to have your partners, employees, and, certainly products or services in mind, but also your team of professionals who can help guide your business through formation and successful start-up. Each of these professionals plays a unique and important role. Your…
It is with great pride that I get to share that Michael was recognized by Best Lawyers® and named a Best Lawyer in America in the practice area of Litigation – Health Care for 2022! Best Lawyers in America is a peer-review process “designed to capture, as accurately as possible, the consensus of opinion of leading lawyers about the professional…
There are board-certified doctors, teachers, and counselors. There are also board-certified attorneys. What does that mean exactly as it relates to attorneys? Here in Minnesota, the Minnesota State Bar Association certifies attorneys in specific fields based on meeting certain criteria. Fewer than 3% of all registered attorneys in Minnesota are certified specialists in their field. The purpose of the “Certified…
I am a board-certified civil trial specialist. This means that I have handled a certain number of judge and jury trials, passed a board exam, handled a sufficient number of depositions and hearings, and received the requisite number of recommendations from judges and attorney colleagues. When I took the board exam more than four years ago now, there was only…
Litigation can be stressful, time-consuming, and scary. Knowing the procedures of litigation can help ease the anxiety. Having an experienced trial lawyer who will explain the process from start to finish will even further alleviate that stress. Litigations commence by the service of the summons and complaint (in Minnesota the summons and complaint do not have to be initially filed…
The Operating Agreement for an LLC and the Bylaws for a corporation each respectively govern the internal relations amongst the business owners and with the business. The freedom to contract under the Revised Uniform Limited Liability Company Act (for LLCs) and the Model Business Act (for corporations) provide entrepreneurs with several options to consider for inclusion in the Operating Agreement…
Last week we discussed considerations for what state to form your business in. Entrepreneurs most also decide what type of business to form. This post focuses on how to form your business. To legally incorporate under the Model Act, applicable to Minnesota corporations, an incorporator must sign and file the corporation’s Articles of Incorporation with the Secretary of State’s office. …
There may be several factors in considering what state is best to form a new entity. In this article, we will consider some of those factors. The formation and governance of corporations and LLCs are controlled by statutes in all 50 states. Those statutes have been interpreted by the courts in each of the states; which in some cases may…
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…
If you serve on the board of directors of a corporation or if you are a shareholder in a corporation, you may have come across the “business judgment rule”. What is the business judgment rule and who is it meant to protect? Generally speaking, the business of a corporation is committed to its officers and directors. The business judgment rule…