Category Archive: Business Type

Feb 03

Did Minnesota Enact “No-Fault” Business Divorces?

Business divorces (where business partners split up) are difficult for owners, employees, and customers.  Unlike personal “no-fault” divorces, normally forced business divorces are reserved for instances of some type of fault by one owner against another.  In Minnesota, that fault is known as “unfairly prejudicial conduct”. Today, the Minnesota Court of Appeals issued a decision …

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Jan 13

Suggested Maintenance for Your Small Business

Most of our lives are governed by suggested maintenance: Change your oil every 5,000 miles Get a colonoscopy when you turn 40 See your dentist and replace your toothbrush every six months Limit yourself to 2,000 calories per day Change your password every three months But what maintenance do you perform for your small business …

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Oct 09

The Advantages and Disadvantages of Sole Proprietor in Minnesota

The attorneys at Batten and Beasley can help you make the best decision on the entity type that is right for you. A sole proprietorship will be a viable alternative for operating your business if you will be the only owner and the business is not a type that involves significant risks of liability to …

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Sep 24

Business Licensing in Minnesota

The lawyers at Batten and Beasley can help in the licensing and regulatory process. The startup, operation or expansion of a business in Minnesota may involve securing one or more business, occupational or environmental licenses or permits.  Sometimes, getting licensed can be a long and difficult process. Those licenses and permits fall into a number …

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Jun 10

Non-Tax Factors of Business Formation Minnesota

In choosing the most appropriate form of organization, the business owner will want to consider a variety of factors, including: complexity and expense of organizing the business; liability of the business owner; distribution of profits and losses; management control and decision making; financing startup and operation of the business; transferability of ownership interest; continuity of …

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May 16

Forming a Business in Minnesota: Limited Liability Company (LLC)

A Minnesota business also may organize as a limited liability company. A limited liability company elects to be treated for tax purposes as a sole proprietorship (disregarded entity), partnership, or corporation. A limited liability company may have one or more members. As described further in the section on tax considerations in choosing the form of …

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May 10

Forming a Business in Minnesota: Corporations

A corporation is a separate legal entity from its owners, owned by one or more shareholders. The corporation must be established in compliance with the statutory requirements of the state of incorporation. The shareholders elect a board of directors which has responsibility for management and control of the corporation. Because the corporation is a separate …

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May 09

Forming a Business in Minnesota: Sole Proprietor and Partnerships

Sole Proprietor In a sole proprietorship, the business is owned controlled by one individual. That person alone receives the profits and bears the losses from the business, and that person alone is responsible for the debts and obligations of the business. Income and expenses of the business are reported on the proprietor’s individual income tax …

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May 08

Starting a Small Business – How to Limit your Liability

Previously in the Starting a Small Business Series we discussed the importance of limiting your liability as a Minnesota small business owner. In this post we will discuss how small business owners can best limit their liability. The first step to limiting your personal liability is to create a limited liability entity. A local twin …

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Mar 01

Why Small Businesses Need Legal Counsel

There are many old adages that apply to why a small business needs to consult with and use the services of an attorney. My favorite is “You don’t know what you don’t know!” It is your job as an entrepreneur to focus on what you do best, which would be to run your business. It …

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