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Qualified Neutral under Minnesota Court Rule 114 for Mediation and Arbitration


Business Activities and Entities:  Planning and Conducting Business

Some basic information


Anyone conducting business is doing so in one form or another, and is liable to the suppliers, buyers, governmental agencies, employees, and others. The law provides various options for selecting the type of form, and it is always necessary to discuss these options with a knowledgeable attorney and accountant. Each form has its own record-keeping and filing requirements, along with various ownership, management, and tax advantages and disadvantages.

SELECTING THE MOST APPROPRIATE ENTITY
Parties can choose from a number of forms for doing business. These generally include the sole proprietorship, partnership, limited partnership, joint venture, corporation, nonprofit corporation, limited liability company, and limited liability partnership. Some forms have subcategories as well, and all require strict attention to the many details involved with establishing the business and carrying on activities.

SOME PRIMARY BUSINESS ISSUES
The following is only a sample of the kinds of issues that will require attention. An attorney and accountant should be contacted for professional assistance with identifying and planning for the many issues involved in any business activity.

  • Planning the undertaking and drafting the Business Plan
  • Planning communications with potential suppliers and purchasers of goods and services
  • Financing, loans, risk management, insurance, licenses and permits, trademarks/patents/copyrights, entity selection and establishment, business name selection and filing
  • Taxes, accounting, filing, record-keeping, establishing accounts
  • Capitalizing, transfers of property, agreements among the individuals involved in the business, reimbursement of expenses
  • Requirements for doing business in other states
  • Regulatory compliance
  • Contracting, leasing
  • Business property liability, ownership, management, accounting
  • Employment planning, taxes, insurance, benefits, withholding, testing, supervision, wage and hour practices, record-keeping, breaks and leave, occupational safety and health, accommodations, handbooks, workplace practices and protections, immigration law compliance, child support requirements, unemployment and worker's compensation coverage
  • Liens, billing, and collection practices


  • THE GROWING BUSINESS
    Obviously, any business should be carefully planned and managed, and professional assistance is a necessity. An arrangement with a regular accountant and general counsel is always advised, even for the smaller start-up company.

    Growing businesses may benefit from selling stock shares or issuing bonds to the general public or financial institutions and companies. The business may be sold, or merged with others under various arrangements. Occasionally, corporation shareholders may re-organize their holdings or become involved in management agreement issues. And there are many other issues that may arise.

    CONFLICTS OF INTEREST
    The individuals involved in businesses should also receive professional guidance for their relationship to the business and the others involved. In general, an attorney cannot represent the interests of more than one individual or the interests of one individual and the business entity itself.

    THE GOOD NEWS
    Business activity drives the economy, and many individuals find business enjoyable and worthwhile. Professionals can provide guidance and services, and free up the owners for the many other activities involved in operating a business.


    ** ALWAYS HAVE AN ATTORNEY REPRESENT YOU IN THESE IMPORTANT AND COMPLEX MATTERS. **


    GERALD HASSELBRINK, Attorney at Law
    of the Minnesota Bar and United States District Court

    Qualified Neutral under Minnesota Court Rule 114 for Mediation and Arbitration

    INDEPENDENT, CONFIDENTIAL, LEGAL SERVICES
    PRACTICING BUSINESS AND PERSONAL LAW IN CENTRAL MINNESOTA
    MEDIATION, ARBITRATION, AND OTHER PRIVATE DISPUTE RESOLUTION THROUGHOUT MINNESOTA


    St. Joseph - St. Cloud, Minnesota
    Phone (320) 363-4569 / (320) 251-0222

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    PLEASE READ TO AVOID ANY MISUNDERSTANDING. Important Information About the Attorney-Client Relationship. We do not have an attorney-client relationship with you or anyone unless and until we agree to representation and receive a signed retainer agreement. The information on this web site should not be considered legal advice. By providing this information or responding to a request for information or a free consultation we do not intend to create an attorney-client relationship with you or anyone. Thus, any information we provide to you should not be considered legal advice and you should not rely on it as if it were. We urge you to contact an attorney directly and establish an attorney-client relationship.


    Copyright 2009 Gerald Hasselbrink
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