Limited Liability Companies (LLCs) were first introduced in 1977 in Wyoming and has since become a favorite choice for business formation for many different types of companies. Over two-thirds of the ...
Standards of Conduct for Former Corporate Officers: The Uniform Rule
Business owners have specific duties to the business such as the duty of care, the duty of loyalty, and the duty of good faith. These responsibilities are part of the Revised Model Business Corporatio...
How to Define the Scope of Services in an Agreement
Whether your agreement is intended to cover a simple transaction such as a website design or a more complicated, long term service agreement governed under a master services agreement (MSA), you shoul...
Death Tax Repeal Act Introduced in House and Senate
Identical bills have been introduced in the U.S. House and Senate that would permanently repeal the federal estate tax and generation-skipping transfer (“GST”) tax. Overview of Current Federal Est...
Asset Protection Opportunity: Retirement Trust
If you’re considering organizing your assets in a way that will let you maximize your retirement savings, you’ve probably considered setting some aside in an individual retirement trust. These tru...
What Purpose do NDAs Serve in M&A Transactions?
A nondisclosure agreement (NDA) or confidentially agreement is often the first step when businesses are conducting business together or considering a merger or acquisitions transaction. The purpose of...
Efforts by State of Minnesota to Standardize Workforce Laws
In response to the new ordinances in Minneapolis and St. Paul covering paid sick leave requirements for all businesses, the state legislature has been busy drafting their own legislation which would o...
Minneapolis and St. Paul’s New Sick Leave Ordinances
A new ordinance went into effect July 1 for the city of Minneapolis called the Sick and Safe Time Ordinance. This new local rule is designed to create time off for many employees in the area including...
Details of Minnesota’s Medical Assistance Program for People over 65
If you’re approaching you 65th birthday, you’re probably very interested in how your healthcare costs and plan are going to change and how Minnesota’s Medical Assistance (MA) program factors int...
What is a Limitation of Remedy Clause?
In many agreements, you may find a clause labeled “limitation of remedy.” This clause is largely similar to a limitation of liability clause in that it controls how much responsibility a company h...