Tag Archive: Succession Planning

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 10

How to Structure the Purchase and Sale of a Business: Asset Sale or Stock Sale?

When a Buyer is looking to acquire a business and a Seller is looking to sell a business the most common question is whether the transaction should be structured as an asset sale or a stock sale. These methods are the two primary deal structures used when businesses are purchased and sold. In an asset …

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Permanent link to this article: http://battenbeasleylaw.com/how-to-structure-the-purchase-and-sale-of-a-business-asset-sale-or-stock-sale

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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Nov 18

The Need for Member Control Agreements for LLCs

Often, new business owners question whether they need a member control agreement. They commonly don’t know of the possible pitfalls of operating without one. In this article we will address why a member control agreement for an LLC is a necessary component for the business. A member control agreement should address four primary issues. Determine …

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