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Saint Paul Estate Planning Law Blog

New law allows for private stock sale to consumers in Minnesota

A new rule in Minnesota allows small businesses to sell stock to the general public, not just large investors. As a person considering building your business, is this something worth your time and effort?

A July 14 report on the new rule talked about how this could work in a business' benefit. For instance, if you have a business that you want to spread the word about, it would be in your best interest to have a large amount of capital from a major investor and then to sell off some stock in your company to consumers. Why would that help? Those individuals would want you to succeed and begin to spread the word about your company. It could be the difference between a full house on your opening night and no one showing up at all.

Raising venture capital can help you start your retail business

If you're starting a business, something you may be interested in knowing more about is venture capital. What is venture capital, though, and why is it important for your business?

At the beginning, all companies are nothing more than an idea. The idea has the potential to grow into a company worth millions or billions of dollars. To achieve that goal, you may want to seek out investors. These investors help the company get the capital it needs to start creating its products and to put its goals into motion.

Zoning regulations a problem for some Minnesotan developers

Minnesota has many zoning regulations, but one that has perhaps outlived its stay is called planned unit development or PUD. PUDs are areas in a city that are saved for special projects that the city decides it wants to have. Cities can designate areas for PUDs, which helps projects like the soon-to-be Market Street redevelopment take place.

PUDs have been written into Minnesota law since the 1970s, but now some say they are being overused. Since 2010, 13 PUDs have been created in Edina, for instance, which allow both commercial and real-estate developers benefit from the area's use. For instance, if the business is allowed to have an extra few stories, it may make space for a park that the city also wants in the area. That's the purpose of the PUD.

What are some things to know about franchises?

You've always wanted to open a business, and you've decided to do so by purchasing a franchise. With a franchise, there are many opportunities. The brand is already well-known, and that means that customers should come flocking to your store.

Before you decide to purchase a franchise, take the time to learn more about what a franchise is and how you need to handle the business. Once you're educated, you can decide which franchise is right for you.

These terms come up often during real estate transactions

There are many different real estate terms you should know if you're interested in buying or selling property. Understanding these terms can keep you in the loop and make sure you understand everything that you're being told. A little education in these terms goes a long way in helping you move forward with your transaction.

One of the main terms you'll discuss with sellers, buyers and your attorney is a title. This is a document that shows who owns land. Without a title, it's not always possible to sell or transfer a property to another party.

Millennials: Entrepreneurial spirit runs deep in this generation

Business formation and planning might be on your mind if you're a millennial, according to a new study from June 2017. The study revealed that around half of all millennials are planning to start a business within the next three years, showing an entire generation with the aim of being entrepreneurs.

This is great news for the economy and for growth within the United States, but keep in mind that forming a business does need to be by the book. There are many laws and regulations to know about.

Protect your home's value after a storm with these tips

Any kind of natural disaster can affect your mortgage since it affects the overall value of your home. After a disaster, you'll look into ways to repair your home, but making a decision on which repairs to make and who to work with can be complicated. That's why the Better Business Bureau has tips for people in your situation.

The BBB has recently discovered that there are some insurance companies who designate which contractors or vendors you should use after your home is damaged. What you need to know is that you have a right to choose whoever you want to perform repairs and don't need to select only from those the insurance company suggests.

You may be able to obtain property through adverse possession

If there is a property you've always wanted but have noticed it has been abandoned for some time, there may still be a chance you can obtain it. While a typical real estate transaction would require you to find the owner and make an offer on the property, laws of adverse possession may help you obtain the property without having to locate the owner.

When you openly inhabit the property that you don't own and make improvements to that property, you may be granted the title to the property under adverse possession laws. There is a time period you must do this for before you can receive the title. The waiting period is a reflection of the statute of limitations laws, which could subject you to trespassing charges until they run out.

What can you do if zoning doesn't allow you to run a business?

When you purchase a property, you likely already have an idea of what you want to do there. Zoning laws will affect what you are allowed to do in the space. Zoning laws restrict many activities and set requirements you must abide by.

If you violate a zoning law, you may have your business shut down or temporarily closed. Fortunately, there are ways to get approval for business use even if the zone is only residential or created for other purposes.

What is a confidentiality agreement?

If you're running a business, one of the things you may ask new employees to sign is a confidentiality agreement. With this agreement, you're asking that the employees do not talk about the work you do. If someone breaches this agreement, then you have a right to legal action against him or her in most cases.

A confidentiality agreement is a legal contract. It is binding and has terms and conditions that restrict what an employee can say about his or her job. The employee, for example, may not be able to discuss the work platform used to reach out to clients or could be restricted from talking about his or her clients outside the workplace.