Majority owners hold significant control in a business, but that control comes with responsibility. When they use their power to benefit themselves at the expense of other owners or the company, courts may view that as self-dealing. Understanding what self-dealing...
If you are a minority shareholder in a Minnesota company, being excluded from decisions or denied profits may be more than unfair—it could be grounds for a legal claim. Shareholder oppression occurs when majority owners use their control to reduce your influence or...
Shareholders typically invest in businesses as a way of turning their capital into ongoing revenue and/or because they truly believe in the business’s purpose. Successful business investments allow shareholders to receive dividend payments and influence how the...
Limited liability companies (LLCs) are a popular business structure for many reasons. LLCs protect members from direct liability while simultaneously extending certain tax benefits. An LLC may appear more formal and therefore more professional than a sole...
Vendors provide critical services for companies. They import unique products or refine raw materials that organizations use to manufacture products. Finding reliable and cost-effective vendors can be one of the biggest challenges of running a successful company....
It seems like almost everyone these days has a social media presence. Even if someone isn’t on any popular social media sites, they can find themselves “going viral” if someone catches them behaving badly in public or private and posts it online. Some people’s bad...
Successful business owners may find that their careers put pressure on their marriages. Even when those who run businesses can balance their professional ambitions with the needs of their family members, they may still end up divorcing due to other sources of marital...
Businesses operating in the construction sector often generate significant revenue. A single project could be worth six or seven figures, especially if the client is a commercial entity rather than a residential homeowner. In most cases, construction companies do not receive payment in full when they begin work on a project. Instead, they accept a down payment and then establish…
Typically, a business co-owner’s exit from the organization is the end of disputes related to company operations. Partners establish very clear standards in a buyout scenario, often in accordance with the initial partnership agreement. Frequently, the contracts executed as part of one owner’s exit from the company include several restrictive covenants. The exiting business partner or executive is often subject…
When companies handling multi-million-dollar construction projects find themselves navigating disputes over contracts, it is possible that the only way to reach a just resolution is litigation. While many construction disagreements are resolved through negotiation, some situations demand a litigated response in order to protect a company’s financial interests, reputation and/or contractual rights. When companies are trying to complete projects valued…