Can I Pick a Business Name if a Similar One Already Exists?
Business

Can I Pick a Business Name if a Similar One Already Exists?

 In this video, you get answers to these questions: Can I pick a business name if a similar name already exists? Where do you go to register your business name? What are the important considerations when picking a business name? What is trademark delusion? What is trademark infringement? Video Transcript Can I pick a…

Corporate Practice of Psychology – Can a Clinic be Owned by Non-Psychologist?
Business

Corporate Practice of Psychology – Can a Clinic be Owned by Non-Psychologist?

 In this video, you get answers to these questions: What is the corporate practice of psychology? What is the Professional Firm Act? Who should own a psychology clinic? Video Transcript Is the corporate practice of psychology legal in Minnesota? That’s the question I’m going to answer today. I’m Aaron Hall, a business attorney in…

Quid Pro Quo?
Business

Quid Pro Quo?

In this video, you get answers to these questions: What is the definition of quid pro quo? What is an example of quid pro quo? Video Transcript What is a quid pro quo? What does quid pro quo mean? That’s what I’m going to answer today. I’m Aaron Hall, an attorney in Minnesota. Quite simply,…

Am I Personally Liable If My LLC Breached a Lease Agreement?
Business

Am I Personally Liable If My LLC Breached a Lease Agreement?

In this video, you get answers to these questions: Am I personally liable if my LLC breached a lease agreement? What if you breach the lease agreement? What happens when an LLC breaches a lease and has no resources? Have you signed a personal guarantee? Video Transcript Am I personally liable if my LLC breached…

How to Get Paid
Business

How to Get Paid

In this video, you get answers to these questions: What do you do when you have to wait for a large sum of money? What is a promissory note and confession of judgment? How do you agree to extend payment terms with someone? Video Transcript I’m Aaron Hall, an attorney in Minneapolis, Minnesota. Have you…

If My Business Fails and I File Bankruptcy, How Will It Affect My Credit?
Business

If My Business Fails and I File Bankruptcy, How Will It Affect My Credit?

 In this video, you get answers to these questions: If your business fails and you file bankruptcy, how does this affect your credit? What happens if your business fails? What if the business files for bankruptcy? What is a personal guarantee? Video Transcript If my business fails and I file bankruptcy, how will that…

What Are the Tax Advantages of Having a Business vs. Running an Operation as an Individual?
Business

What Are the Tax Advantages of Having a Business vs. Running an Operation as an Individual?

In this video, you get answers to these questions: What are the tax advantages of having a business vs. running an operation as an individual? Do you want to set up a business or company, or should you operate out of my own name? What are the tax advantages and disadvantages? What do you pay…

New 2019 Laws for Minnesota Employers & Employees
Business

New 2019 Laws for Minnesota Employers & Employees

Guidance for Employers on Minnesota’s New Wage Theft Law The Minnesota Legislature passed and the governor has signed a new Minnesota Wage Theft Law. The new law amends existing state labor laws and provides for new wage and hour requirements, protections and sanctions. This guidance highlights provisions of the new law that will require employers…

How a Special Litigation Committee Protects Minnesota Companies
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 Special…

Accidental Partnership: Are You in a De Facto Business Partnership?
Business

Accidental Partnership: Are You in a De Facto Business Partnership?

 Overview This story illustrates how two entrepreneurs can accidentally 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…

How the ‘Business Judgment Rule’ Protects Directors and Officers
Business

How 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…

Registered Agent: A Physical Office for Your Business
Business

Registered 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…

What’s at the End of Your Business Name Besides INC or LLC?
Business

What’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…

Minnesota Private Attorney General Statute: Get Attorney Fees Back
Business

Minnesota 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…

5 Tips to Delegate and Elevate Your Leadership Team
Business

5 Tips to Delegate and Elevate Your Leadership Team

If you’re running EOS® (the Entrepreneur’s Operating System) in your business, you have experienced firsthand how beneficial it can be to your company’s growth. Like all learning tools and systems, to really gain strong traction, the challenge lies in supporting your team on the ground level with the day-to-day execution and implementation of EOS  principles….

Free Private Meeting Room Spaces in the Twin Cities
Business

Free Private Meeting Room Spaces in the Twin Cities

Whether you are a real estate agent, solo attorney, or consultant, you often need a private room outside your home to meet with clients. Fortunately, the Twin Cities business community and library systems offer a variety of places for you to meet with your clients and potential clients. Highlights include certain coffee shop locations with…

Are clickwrap or browsewrap contracts enforceable?
Business

Are clickwrap or browsewrap contracts enforceable?

Are Online “Click to Accept” Agreements Valid? This is an archived copy of an article that originally appeared in Communications Lawyer, published by the ABA in January, 2015. From the Chair: “Click Here to Accept the Terms of Service” Vol. 31 No. 1 By Alison S. Brehm, Cathy D. Lee Alison S. Brehm is a partner,…

How is a Social Club Taxed? IRS Guidance on 501(c)(7)
Business

How is a Social Club Taxed? IRS Guidance on 501(c)(7)

Introduction Social clubs are exempt from federal income tax under IRC 501(a) as organizations described in IRC 501(c)(7) if they are “organized for pleasure, recreation, and other nonprofitable purposes.” They were originally granted exemption from federal income tax in the Revenue Act of 1916. Generally, social clubs are membership organizations primarily supported by dues, fees,…

Cryptocurrency Tax FAQ:  Your Bitcoin Income vs. the IRS
Business

Cryptocurrency Tax FAQ: Your Bitcoin Income vs. the IRS

The following FAQ addresses common questions about when cryptocurrencies are taxed and whether conversions between cryptocurrencies qualify as like-kind exchanges. Is transferring funds between cryptocurrencies taxable? Yes. Converting between cryptocurrencies is taxable. For example, if you convert Bitcoin to Ethereum, that would be a taxable event. Is a cryptocurrency conversion a like-kind exchange? No. Converting funds from…

Getting an EIN: Personal Service Corporation vs. S Corp
Business

Getting an EIN: Personal Service Corporation vs. S Corp

This article is for people wondering whether to select “S Corporation” or “Personal Service Corporation” when applying for an EIN on the IRS.gov website. Let’s assume you are in the process of setting up an S corporation to provide professional services (e.g. law firm or chiropractic office), and now you need an EIN number. You visit…

Is ‘Indemnify’ the Same as ‘Hold Harmless’ in Minnesota Statutes?
Business

Is ‘Indemnify’ the Same as ‘Hold Harmless’ in Minnesota Statutes?

Is ‘Indemnify’ the Same as ‘Hold Harmless’ in Minnesota Statutes? Yes, “indemnify” generally means the same as “hold harmless.” When considering whether “indemnify” is synonymous with “hold harmless” in a Minnesota statute, the Minnesota Court of Appeals held that “indemnify” means to “hold harmless,” even if the effect is to undo a long-standing precedence established in…

A Guide to Quantum Valebant in Minnesota
Business

A Guide to Quantum Valebant in Minnesota

What is Quantum Valebant? Quantum valebant is exactly like quantum meruit, but with one important distinction: quantum meruit applies to the value services, while quantum valebant applies to the value of goods. Translated, quantum valebant means “as much as they were worth.” What is Quantum Valebant in Minnesota? Minnesota courts have recognized quantum valebant as a remedy allowing the provider of…