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…
Shareholders often play a key role in large, successful businesses. They provide financial support during the startup stage or during periods of expansion or financial hardship. Companies that take on shareholders by selling stocks grant those investors or equity owners certain rights and protections. Unfortunately, those who have sizable ownership interests or leadership roles within an organization do not always…
Business partners have to put a lot of faith in one another. They need to trust each other to follow through on their promises and to act in the best interests of the company. Business partners have a fiduciary duty to the company. That means they should put the company’s best interests ahead of their own wishes. Not everyone interested…
Executives who secure promotions or move to new companies tend to aggressively negotiate their compensation arrangements. Their employers frequently agree to make financial concessions based on the prior performance of the professional in question. Often, a large severance package is a crucial component of an executive’s compensation arrangements. A so-called golden parachute allows them to exit the company with a…
Schwartz Law Firm is pleased to announce that Michael and Brandon have both been recognized again by The Best Lawyers in America® for 2025! For over 40 years, Best Lawyers® has been esteemed by both legal professionals and the public as a premier benchmark for legal integrity and distinction in the United States. Consequently, being recognized by Best Lawyers® is…
Proving that a business partner didn’t uphold their responsibilities outlined in a partnership agreement can be challenging. In some cases, even the most comprehensive agreement isn’t enough to stop an issue from occurring. While some small partnership disputes might not lead to legal action, more serious breaches may require litigation before a suitable resolution can be reached. Anyone who’s in…
Schwartz Law Firm is pleased to announce that Brandon has been recognized as a Super Lawyer for 2024! Super Lawyers selects attorneys using a patented multiphase selection process. Peer nominations and evaluations are combined with independent research. Each candidate is evaluated on 12 indicators of peer recognition and professional achievement. Selections are made on an annual, state-by-state basis. The objective…
Schwartz Law Firm is pleased to announce that Michael and Brandon have both been recognized by Minnesota Monthly! The research for the Top Lawyers list was created by PRS (Professional Research Services) and is based on an online peer-review survey sent out to all lawyers in Minnesota. Thousands of votes were cast honoring excellence in all areas of practice. Inclusion…