Item 15 of the amended Rule requires franchisors to disclose whether franchisees are required to participate personally in the direct operation of the franchise. Among other things, the amended Rule’s …
READ MORE →The employer must review the employment application carefully. In order to determine whether all the questions asked are appropriate, consider whether the information requested is reasonably related …
READ MORE →In Minnesota a mechanic’s lien can be filed by a contractor or materialman to preserve their legal remedy for non-payment by a property owner. This legal process acts as insurance so that the provider …
READ MORE →This post is part of a series of posts on common issues Minnesota employers face. Even if a worker is not an employee under common law rules, he or she may be considered an employee for certain …
READ MORE →When an employee leaves to compete with you, you have a number of legal rights and options. In Minnesota those options now center on protecting your trade secrets and confidential information, …
READ MORE →Consistent with the UFOC Guidelines, Item 5 of the amended Rule requires the disclosure of any initial fees and any conditions on their refundability. “Initial fees” means “all fees and payments, or …
READ MORE →This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for …
READ MORE →Before inquiring about debt financing, an entrepreneur should assess such things as: Do you actually need more capital or can you manage existing cash flow more efficiently? How do you define your …
READ MORE →I have heard from a number of attorneys that scam artists are targeting lawyers claiming to need legal help. Understanding these fraud patterns is an important part of law firm operations and risk …
READ MORE →The amended Rule provides that franchisors must furnish prospective franchisees with a disclosure document at least 14 calendar days before the prospective franchisee signs a binding agreement with, …
READ MORE →Minnesota businesses must comply with MPCA rules to protect air quality. Some rules apply even though the business will not have air emissions requiring permits. Motor Vehicle Emission Controls Owners …
READ MORE →The FTC Franchise Rule’s disclosure requirements do not apply to a franchise offer or sale when the franchisee’s initial investment totals at least $1,469,600, excluding the cost of unimproved land …
READ MORE →A company selling securities to residents of the state of Minnesota must comply with federal and state securities laws. State securities laws are collectively and individually referred to as “Blue Sky …
READ MORE →ITEM 17: THE FRANCHISE RELATIONSHIP This table lists certain important provisions of the franchise and related agreements. You should read these provisions in the agreements attached to this …
READ MORE →Here is a sample cover page of a franchise disclosure document. Franchise Disclosure Document Belmont Mufflers, Inc. A Minnesota Corporation 111 First Street Jackson, Minnesota 55000 (111) 222-3333 …
READ MORE →Sample Item 19-1: Financial Performance Representation (Based on Actual Historical Performance Results) ITEM 19: FINANCIAL PERFORMANCE REPRESENTATION The FTC’s Franchise Rule permits a franchisor to …
READ MORE →ITEM 21: FINANCIAL STATEMENTS Attached to this disclosure document as Exhibit J are our audited, fiscal year end financials for 2005, 2006, and 2007. Attached to this disclosure document as Exhibit K …
READ MORE →ITEM 13: TRADEMARKS We grant you the right to operate a shop under the name “Belmont Muffler Shop.” You may also use our other current or future trademarks to operate your shop. By “trademark,” we …
READ MORE →Table No. 1 – Systemwide Outlet Summary Table No. 1 of Item 20 presents the total number of all outlets nationwide – both company owned and franchised – operating at the beginning and at the end of …
READ MORE →The last of the three definitional elements of a franchise covered by the amended Rule is that purchasers of the business arrangement must be required to pay to the franchisor (or to an affiliate), as …
READ MORE →The amended Rule covers business arrangements where the franchisor “will exert or has the authority to exert a significant degree of control over the franchisee’s method of operation, or provide …
READ MORE →A limited liability company may amend its articles of organization to include or modify any provision that is required or permitted to appear in the articles or to omit any provision not required to …
READ MORE →When a corporation extends into a new product line or a new geographic area, it frequently establishes a “subsidiary” corporation. A subsidiary corporation is a separate legal entity which happens to …
READ MORE →Do you need to have a disclosure or disclaimer at the end of your emails? Most people don’t. Still, some professionals (like lawyers) may want an email disclosure. Email disclosures don’t have to be …
READ MORE →A corporation may amend its articles of incorporation to include or modify any provision that is required or permitted to appear in the articles or to omit any provision not required to be included in …
READ MORE →There is no publication (i.e., no “legal advertisement”) requirement for corporations incorporated under Minnesota Statutes Chapter 302A. There is also no statutory minimum capital requirement for …
READ MORE →A limited partnership is a type of partnership in which a limited partner is not personally liable for the partnership’s obligations solely by reason of being a limited partner. Minnesota limited …
READ MORE →In general, any name which contains a different word from existing names on file with the Secretary of State is distinguishable and the name is acceptable for filing as an assumed name or as the name …
READ MORE →Minnesota statutes set the naming rules for corporations, limited partnerships, limited liability partnerships, and limited liability companies. Before you commit to a name, confirm it satisfies the …
READ MORE →After you’ve decided what type of business entity is right for your business, you may have to decide on a business name. In this sub-series of posts, we’ll discuss: Certificate of Assumed Name Naming …
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