Should You Own Your Business with Your Spouse?

Should You Own Your Business with Your Spouse?

Starting a business is a significant milestone that requires careful consideration, planning, and execution. If you are considering starting a business with your spouse, it can be an exciting opportunity to work together and build something meaningful. However, before embarking on this journey, it’s essential to understand the pros and cons of owning a business…

Disclosure Statement

Disclosure Statement

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. In conjunction with filing a proposed plan, a chapter 11 debtor must also include a disclosure statement. This is an important document in a chapter 11…

Requirements of Plan

Requirements of Plan

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The good news for a chapter 11 debtor is that a debtor and its creditors are basically free to agree to any plan that they believe…

Basics of Chapter 11 Plan

Basics of Chapter 11 Plan

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The goal of chapter 11 bankruptcy is for a business to become profitable again, maximizing the return to the business’s creditors and owners. Achievement of this…

Treatment of Claims

Treatment of Claims

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Filing for bankruptcy involves disclosing debt, or “creditor claims,” on official bankruptcy paperwork. Generally, once a company or individual files for bankruptcy, it may not make…

Executory Contracts and Unexpired Leases

Executory Contracts and Unexpired Leases

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Filing a chapter 11 bankruptcy allows a company to reject certain contracts that require continuing payment or other performance obligations that may be negatively affecting operations….

Financing in Chapter 11

Financing in Chapter 11

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Once a company or individual becomes a chapter 11 debtor, any financing arrangement that the debtor wishes to engage in must be approved by the Bankruptcy…

Discussion of In-Court Restructuring (Chapter 11)

Discussion of In-Court Restructuring (Chapter 11)

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Because this publication focuses on debtors who wish to continue to operate, the main focus of the discussion on bankruptcy will center on chapter 11 reorganizations….

Types of Bankruptcy Cases

Types of Bankruptcy Cases

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. As previously stated, this publication focuses on the needs of a business who wishes to restructure their debts and continue operating. Therefore, the main focus will…

In-Court Restructuring

In-Court Restructuring

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Although an out-of-court restructuring is preferable to filing for bankruptcy in most circumstances, exceptions can arise leading a debtor to determine that an out-of-court restructuring is…

Disadvantages of Out-of-Court Restructuring

Disadvantages of Out-of-Court Restructuring

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. A. Lacks Sense of Finality An out-of-court restructuring agreement between a debtor and creditor – whether forgiving, reducing, or allowing for repayment in installments – is…

Advantages of Out-of-Court Restructuring

Advantages of Out-of-Court Restructuring

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. A. Far Less Expensive Although out-of-court restructuring often involves an attorney, the cost of that attorney will be significantly less than if formal bankruptcy proceedings are initiated. This is…

Creditors Who Should be Restructured

Creditors Who Should be Restructured

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Similar to debtors, not all creditors are built the same. As businesses consider filing for bankruptcy or otherwise restructuring their debt, creditors should be uniquely advised on their approach…

Alternative to Bankruptcy – Out-of-Court Workout

Alternative to Bankruptcy – Out-of-Court Workout

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. When a business is facing financial difficulties, it must decide whether or not it should engage in discussions with its creditors to try to work out…

First Considerations for the Financially Distressed Business

First Considerations for the Financially Distressed Business

This and the following posts have been copied or adopted from First Considerations for the Financially Distressed Business, published through a collaborative effort by the Minnesota Department of Employment and Economic Development Lathrop GPM. Disclaimer to First Considerations for the Financially Distressed Business This publication is intended to alert the reader to legal issues related…

Social Media Audit

Social Media Audit

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. This Guide presents a myriad of issues and concerns for a business to consider. What should your business do to comply…

Social Media In Litigation

Social Media In Litigation

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Twitter tweets, blog posts, LinkedIn profiles, text messages, YouTube videos, email, and any other online content may be considered electronic business…

Effect Of Social Media Use On Privacy And Security Compliance

Effect Of Social Media Use On Privacy And Security Compliance

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Participating in social media or conducting any ecommerce activity, in essence, makes a business a global company, and the laws of…

Protection Through Terms Of Use And Privacy And Privacy Policies

Protection Through Terms Of Use And Privacy And Privacy Policies

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. The DMCA and CDA offer important safe harbors to businesses relative to the unauthorized posting of content on corporate sites or…

Defamation

Defamation

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. The posting of defamatory material can lead to liability for defamation and invasion of privacy and such acts have given rise…

Trade Secrets

Trade Secrets

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. A trade secret is information such as a formula, pattern, compilation, program device, method, technique or process that is economically valuable…

Trademarks

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. A “trademark” is a word, phrase, symbol, design, or any combination of those things that identifies the source of particular goods…

Copyright

Copyright

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Copyright protects original works of authorship, including literary works (which includes computer programs), dramatic, musical (including lyrics), artistic (including pictorial, graphic,…

User Generated Content

User Generated Content

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Social media allows for a wide variety of digital media that is created and shared by multiple users. This user generated…