An often-overlooked area of business and commercial law involves setting up protections for your company's intellectual property. Trade secrets, in particular, are vulnerable to theft because they can give other commercial businesses a leg up in the world of commerce. Since most business owners work very hard to develop intellectual property, it makes sense to do all you can to protect your secrets.
Workplace conflicts can result in many problems within a business or commercial establishment in Minnesota. They can reduce productivity, create a hostile work environment and may even lead to legal problems for you, the business owner.
The first thing we want to do is to put a little disclaimer here about our use of the word "quickly" in the post title. Our intent here is not to encourage you to rush or hurry when creating a new business. Instead, we want to focus on creating a way to make the process a little faster for you and other Minnesota entrepreneurs. As you might expect, planning and preparation are the two major keys in expediting your efforts.
There exist an untold number of potentially catastrophic missteps business owners can make. Looking at them one at a time is a great way to understand these mistakes and take the proper steps to avoid them altogether. One often-overlooked area of concern is properly choosing candidates for employment in your business.
Those who live and work in the state of Minnesota know more about their employee rights than ever before. Such awareness is a great thing, but it can lead to employment disputes if business owners do not also understand the rights of workers. For example, even when you have a good reason to terminate an employee, you must be careful not to violate their rights when doing so.
An often-overlooked but important area of business and commercial law involves protecting your company's intellectual property. For many businesses based in Minnesota, intellectual property adds a great deal of value to the company. Allowing other parties to steal and to use your intellectual property can have a debilitating effect on your business.
Some people in this world do not follow sound ethical principles when they conduct business with others. It's important to always be on the lookout for these people, but it's not always obvious when we're about to become a victim of a dishonest business person. That's why Minnesota state law protects you from deceptive trade practices. If someone sells you something, for example, and it's not a fair trade, you might have the ability to pursue legal action and try to get your money back.
When you own a business, the last thing you want to find out is that your accountant has breached fiduciary duty. When this happens, it means your funds have been used in an inappropriate way, something that may catch you off guard and make you concerned for the future of your business.
Confidentiality is a way of life when you run a business. If your secrets get out, then other businesses could steal the things you've learned and created for yourself, giving them an edge over you and eventually putting you out of business. To avoid having this happen, it's a good idea to get a confidentiality agreement with anyone you hire. That agreement would hold them personally accountable if they gave away company secrets.
If you're in business, one thing you may be interested in knowing more about is what a deceptive trade practice is. Deceptive trade practices are activities by businesses or individuals that mislead the public or consumers. This action misleads them in a way that encourages them to buy a product that then does not do what it's intended to do.