Category Archives: Business & Transactions

The Medical Marijuana Regulation and Safety Act: The Stakes Have Never Been Higher For California’s Medical Marijuana Growers And Operators

by Peter B. Langbord – Partner, and Jacqueline Karama – Law Clerk, Foley & Mansfield Los Angeles The smoke has finally cleared. Nearly twenty years after California became the first state in the nation to legalize medical marijuana, California  approved the first statewide … Continue reading

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FINRA’s New Recruitment Disclosure Rule – What Brokers Should Know

The Financial Industry Regulatory Authority (FINRA) filed its broker recruitment-disclosure rule (Rule 2273) with the Securities and Exchange Commission (SEC )on December 16, 2015. Rule 2273 requires brokers to deliver a FINRA-created “educational communication” to former customers when the broker … Continue reading

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Minnesota Business Filings: Identical Names and Trademark Implications

The Minnesota Secretary of State recently released business filing statistics for 2013.  The total number of filings for 2013 was 58,260, down about 3% from 2012.  Other statistics from 2013: Of all Minnesota Limited Liability Companies and Minnesota Business Corporations … Continue reading

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Minnesota Sales and Use Tax on Storage and Warehousing Services

The Minnesota Department of Revenue recently issued “Fact Sheet Number 178” addressing the imposition of Sales and Use Tax on Storage and Warehousing Services. Businesses using outside services should become very familiar with this new tax. The greatest impact will … Continue reading

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Buy-Sell Agreements A Must for Closely-Held Businesses

Buy-Sell Agreements, also known as “Shareholder Control Agreements” or “Member Control Agreements” in the LLC context, are binding contracts of closely held companies designed to facilitate the continued operations of a business. On a basic level, the Buy-Sell provides guidance … Continue reading

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U.S Bank caught up in foreclosed home disrepair dilemma

The city of Los Angeles is suing Minneapolis-based U.S. Bank, accusing a U.S. Bank subsidiary of failing to maintain hundreds of foreclosed homes which have fallen into disrepair and tarnished community property values along the way.  U.S. Bank allegedly holds … Continue reading

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Employment Agreements for Seasonal Employees

Many businesses seek to hire extra hands through the holiday season as a way to cope with the shopping rush. Typically, these employees are hired as “Independent Contractors” to insulate the company from the cost of benefits and responsibility for … Continue reading

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Phantom Stock Plans: Real Incentives for Key Employees

Despite the name, phantom stock plans are very real incentives used to attract, retain and reward key employees. These plans also have real benefits in terms of tax implications, ownership control, and, in comparison with qualified plans, the relative ease … Continue reading

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MN Non-Compete Law Update – “Independent Consideration” in Schmit Towing, Inc. v. Frovik

In an unpublished opinion, the Minnesota Court of Appeals held that the “independent consideration” rule does not apply outside the employer / employee relationship, and specifically found that it does not apply to independent contractors. Continue reading

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Dealing with Employee Embezzlement

Employee embezzlement is expensive.  Some experts estimate that 25-40 percent of employees steal when given the opportunity, with estimates of the costs to business exceeding $400 billion dollars annually.  Employee embezzlement can take many forms, but regardless of the size … Continue reading

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Competition and Trade Secrets

With the downturn of the economy, companies are grasping for market shares. Unfortunately, this can sometimes put these companies in a position that they would not normally want to be in. Businesses may try to take their competitors’ people so … Continue reading

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