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Chapter 7 Bankruptcy Or Chapter 13 Bankruptcy?
When consumers contemplate the option of bankruptcy, they are generally contemplating between chapter 7 and chapter 13 bankruptcies. Chapter 7 is commonly referred to as a “straight” or a “liquidation” bankruptcy, the effect of which is to liquidate (sell off) all of your non-exempt assets (most chapter 7 filers have very little if any non-exempt [...]
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Elimination of Debt
We recently ran an article regarding eliminating your debts and similar obligations without filing for bankruptcy. Many readers called us with a variety of questions, some of which I want address in this follow up article.
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Employee Obligations
Employers of all shapes and sizes are requiring their Employees, whether at will or term, to execute employment agreements that clearly define the obligations and duties the Employee owes to the Employer both during and after the employment relationship. Some of the general duties encompassed in employee agreements include:
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Enforcement Of Non-Competition Agreements
It is all too common these days to hear of cases where a key man or woman in a Minnesota business, who has had access to the company’s confidential information, marketing strategy, product specifications, customer lists, and trade secrets, leaves the company either to join a competitor or to form a competing business, relying upon the knowledge, expertise, and exposure gained while employed. This is especially true in new high-tech companies, which have developed new and unique technology, giving them a special advantage or niche in a particular product market.
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Minnesota Business Organizations
There are many different types of business organizations available in the state of Minnesota. This article is meant to give a brief introduction into these organizations, including general information on formation, taxation and liability. It concludes with a chart summarizing the key points of each business entity. Corporations – S-Corp and C-Corp A corporation is a separate [...]
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Small Business Investor Offerings
One of the most common problems among start-up or small companies is access to financing. Normal bank financing is usually inaccessible to young companies possessing little or no history or requires personal guarantees from the principals of the company. If your company is facing this problem one solution may be to obtain capital or debt financing from private investors. Through such offerings your company can raise thousands to millions of dollars, providing short-term (usually 1-3 years) relief while your company gets on its feet and establishes the operating history required in order to obtain more traditional financing such as bank lines of credit.
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The Coveted Green Card
“Green Card” is a common, well-known term in American vernacular, esteemed for the status it signifies, namely that of lawful permanent resident. What is less known, however, are the limits of the status, and the hidden dangers to the uninformed, particularly in the current political climate of fear and security.
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Trademark Article
If you own a business, it is likely you have one or more trademarks. The United States Patent and Trademark Office defines a trademark as being “a word, name, symbol or device which is used in trade with goods to indicate the source of the goods and to distinguish them from the goods of others.” There is a parallel mark for services, called a service mark, but here I am calling both trademarks and service marks “trademarks.”) In short, a trademark is any name or logo you use to sell your goods or services. Given this definition, your business name, the name of products, and the names of processes and procedures might all be trademarks.
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What Both Employers and Employees Should Know
Introduction These days it is all too common to hear of cases where a key person, and indeed increasingly, not seemingly “key” persons, in a Minnesota business whose access to the company’s trade secrets, confidential information, customers or customer lists, vendors or vendor lists, marketing strategy, product specifications, customer or customer histories or data; [...]
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Why File For Bankruptcy?
Some things bankruptcy can do: Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts. Stop foreclosure of your home and allow you to catch up on missed payments. Stop repossession of a car or other property, or, in some situations, force the creditor to [...]
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