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July 2016 Archives

Making sure your articles of incorporation work for you

Starting a new business involves so much more than coming up with a good idea and deciding to sell it. In order for a company to work and grow, it should begin with a stable foundation. For instance, if your company is set up as a corporation, you will need to create and file articles of incorporation.

Failure to draft enforceable HOA bylaws can lead to disputes

Being part of a condominium, townhouse or homeowners association comes with a number of perks and responsibilities. And just as residents are expected to comply with the rules set by an association, the association is expected to have in place enforceable bylaws and regulations. If this does not happen, costly and combative disputes between residents and the association can arise.

A contract was breached. What happens now?

Business, organizations and individuals enter into contracts all of the time, and when they do so, the parties involved may not fully realize the ramifications of the deal to which they have agreed. Breaking, or "breaching," the contract in any way can lead to the other party (or parties) in the deal seeking financial or performance retribution from the breaching party.

Regulators are becoming stricter on mergers and acquisitions

As companies grow in the Twin Cities, they will most likely employ various methods to increase market share and decrease competition. For some, this could be achieved by simply increasing production of a proprietary or exceptional product. However, for many companies who are in a more competitive landscape, they may decide that the only way to move forward is to seek mergers and acquisitions with other like-minded and successful companies.

How to mitigate risk and liability when forming a business

It is always an exciting time when an entrepreneur embarks upon a new business venture. However, many in the Twin Cities may have discovered that there are layers of complexity and legality involved when establishing a new company. Most people who are establishing a new organization may want to understand how to protect themselves as much as possible from unnecessary liability.

Sometimes, the timing is not quite right

With any commercial real estate deal, there are always a number of components. There is the land acquisition. It may be simple and easily available, or it may be difficult and complex, with numerous parcels that need to be aggregated and multiple transactions with numerous private owners.

Did your text just create a contract?

Most contracts used in business and commercial dealings tend to be carefully drafted, with the assistance of lawyers. While some may be relatively simple, others involving complex transactions may stretch across hundreds of pages. In Minnesota, oral contracts may even be valid for some transactions.