Exploring Minnesota Business Law

Have you found yourself in an unfortunate legal situation and need a Minnesota-based business attorney? If so, you are in the right place. There are many different reasons why hiring a legal specialist to protect your professional interests is a wise decision.

This article will explore the many facets of Minnesota business law to help provide a comprehensive understanding of handling tricky legal situations.

Buy-Sell Agreements

Every business partnership needs a buy-sell agreement written early on to help plan for the future of the business. This essential legal document provides clear direction about the business succession if one owner decides to transfer his interest. Commonly referred to as a buyout agreement, a business will, or business prenup, this contract will help with a smooth transition of power due to a triggering voluntary or involuntary event.

There are two prominent types of buy-sell agreements that businesses can choose: entity agreement and cross-purchase.

  • Entity agreements demand that the business entity purchase the shares.
  • Cross-purchase agreements differ in that they allow remaining owners to buy the business shares.

Depending on the type of business and owners involved, you can opt for a mixture of the two agreements. Drafting a buy-sell agreement is a wise decision for any professional partnership, which is why it’s crucial to have a business lawyer help clear out ambiguous language and provide clarity in your legal agreement. 

Learn more about everything in buy-sell agreements, such as triggering events, calculating purchase price, and other helpful contractual information.

Rental-Purchase Agreements

Unlike traditional rental agreements, a rental-purchase agreement is a legally binding contract that allows a person to rent space before owning it. Commonly referred to as a rent-to-own contract, this lease-purchase agreement ends in a sale between the tenant and the landlord at a price established at the time the lease was signed

Why would someone want this type of rental agreement?

Rent-to-own contracts offer many benefits for both homeowners and renters. Compare the benefits between the two, below.

Renter benefits:

  • Time to repair credit scores
  • Save for down payment 
  • Build property equity 
  • The convenience of not moving 

Seller benefits:

  • Attract responsible tenants
  • Eliminate the hassle of finding new tenants 
  • Lock in reasonable property price
  • Return investment with an upfront payment 

No matter the reason, this agreement usually provides benefits for both parties. Since this will end in a sale, make sure to have every essential detail written and clearly communicated to ensure a smooth transaction. 

There are a few things to consider when choosing this type of business agreement, including:

  • The leasing period
  • Nullifying sale situations 
  • Designating financial responsibility

By clearly establishing these in a legally binding contract, there is little to no room for confusion. Review what to include in your rental agreement, and always consult a lawyer to ensure both parties feel confident with this situation. 

Understanding Real Estate Law

Every step of the real estate transaction requires careful consideration to avoid any grey area. That diligent attention to detail is an essential practice for real estate lawyers. 

Ways that real estate attorneys aid buyer and sellers include:

  • Acquisition 
  • Leasing
  • Development
  • Financing
  • Selling 
  • And more!

The last thing you want to worry about during the buying or selling of real estate property is the little nuances. Instead, working with a seasoned veteran of real estate law provides clarity and ease every step of the way.

Explore the different aspects of real estate law available to you and your business.

Navigating Investment Loss or Fraud

Investment fraud is a time-sensitive and tricky situation to navigate. Not only does it cause unwanted stress, but it also causes confusion if mishandled. There is even a time limit to pursuing investment fraud claims in certain situations which is why it’s crucial to seek out a stock market attorney ASAP.  

If you’ve been working with an unsavory broker who’s made poor decisions, you may be able to bring a case against him. Depending on the case, you may have the right to recover compensation for your investment loss. 

Consider the most common types of investment fraud, including:

  • Selling away
  • Lack of brokerage supervision
  • Unauthorized trading
  • Ponzi schemes
  • Excessive trading
  • Lack of diversification
  • Unsuitable advice 

You may have an investment case due to the legal protection set in stone by federal government agencies that all financial advisors and brokers must follow. 

The most notable agencies include: 

  • FINRA – Financial Industry Regulatory Authority
  • SEC – Securities and Exchange Commission 

Unfortunately, even with these protections, broker misconduct still occurs. This is why it’s essential to seek out a stock market attorney to recover losses and protection relief during this painful process.

Working With a Business Lawyer

Companies of all sizes can benefit from consulting a business attorney to draft and review contracts or settle legal disputes. Whether you need one lawyer or a team of lawyers for different specific reasons, they provide clarity and legal protection for various situations.

Review some of the numerous legal areas that a business lawyer facilitates, including:

  • Mergers and acquisitions
  • Writing and reviewing contracts
  • Intellectual property
  • Business formation
  • Transaction assistance
  • Employment law
  • Compliance and risk management
  • Corporate law issues
  • And many other business facets

Explore more advantages of working with an accredited business attorney.

Running a business requires various moving parts, all functioning together. The last thing you want to worry about is the nitty-gritty legality of your business documents or transactions. By working with a business attorney, you can rest assured that your company follows all standard practices and legal regulations essential to your success. Furthermore, if cases arise, seek out a specialist in that area to ensure the best possible outcome.

Navigating Minnesota Business Law With CJB Law

Even though Minnesota business law has many complex facets, there are thankfully specialized attorneys to help safely navigate legal situations. No matter the professional situation you find yourself in, working with a business attorney is a wise decision. At CJB Law firm, our team of results-driven attorneys has earned recognition throughout the region for our history of success. 

Protect your professional interests by connecting with our team today. We’ll even provide you with a free case evaluation for your civil or criminal issues.