Category Archives for Business
How a Special Litigation Committee Protects Minnesota Companies
Setting up a Special Litigation Committee (“SLC”) is a great way to deal with a conflict of interest in a company. A Special Litigation Committee allows the company to keep control of legal claims and address issues in a way that puts the best interests of the company first. The main idea behind a […]
Continue readingAccidental Partnership: Are You in a De Facto Business Partnership?
Overview This story illustrates how two entrepreneurs can accidently find themselves in a partnership. A partnership doesn’t need to be registered with the state. A partnership can begin whenever two or more people carry on as co-owners a business for profit. Story Amber and Jen discussed opening a business together. They never established a formal […]
Continue readingThe Contingency Fee Agreement is Relevant When an Attorney is Fired
The Minnesota Supreme Court established an eight-factor test to determine a lawyer’s contingency fee after a client fired the lawyer shortly before settling case. The Court held that, under quantum meruit, the “fee arrangement existing between counsel and the client” is one of the factors. Minnesota’s Contingency Fee Factors for Attorneys The eight factors are time […]
Continue readingCan Minnesota Lawyers Share Legal Fees? Yes.
Yes. Rule 1.5(e) of the Rules of Professional Conduct provides as follows: A division of a fee between lawyers who are not in the same firm may be made only if (1) the division is in proportion to the services performed by each lawyer or each lawyer assumes joint responsibility for the representation; (2) the client […]
Continue readingSucceeding on Purpose: a Workshop
by Latitude Often CEOs and other leaders want to lead with a purpose greater than profit, but the majority struggle to integrate purpose into their everyday operations. In this workshop, Glenn Deering—Exec. Director of Strategy and Purpose Innovation at Latitude—will lead attendees through interactive exercises that introduce proven ideas and methods for operationalizing a purpose […]
Continue readingHow the ‘Business Judgment Rule’ Protects Directors and Officers
If you are an officer or director accused of making a bad decision, the “business judgment rule” is an important defense to understand. Directors and Officers Owe a Duty of Care In general, directors and officers of a corporation (including nonprofit organizations) owe the corporation a duty of care. This “duty of care” means you […]
Continue readingRegistered Agent: A Physical Office for Your Business
Every Minnesota business needs to have an address on record with the Secretary of State. This is called the registered office. Instead of providing a physical address, you can use a registered agent service. This article explains the details. What a registered office? A registered office is the address for your business on record with the […]
Continue readingWhat’s at the End of Your Business Name Besides INC or LLC?
When you name your LLC or corporation, you need to decide which entity designation to include at the end. For example, “Angie’s Plumbing” might become “Angie’s Plumbing LLC” to indicate Angie’s Plumbing is a limited liability company. This page lists the entity designations when starting a business in Minnesota. Corporation In Minnesota, a for-profit corporation may […]
Continue readingReasonable Attorney Fees in Minnesota vs. Lodestar Factors
Throughout the United States, many jurisdictions use the Lodestar factors as a standard to determine whether attorney’s fees are reasonable. The Lodestar standard has been part of the common law, refined by courts over the years. Minnesota’s approach to determining whether attorney’s fees are reasonable generally aligns with the Lodestar factors. Minnesota Standard Minnesota’s approach […]
Continue readingMinnesota Private Attorney General Statute: Get Attorney Fees Back
What is a private attorney general statute? A “private attorney general” statute authorizes a court to award attorney’s fees to a party that hires a private attorney to address an injustice that harms the public. This is a big deal. For example, when the state attorney general’s office will not take action to stop harm […]
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