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Rochester Business & Commercial Law Blog

Business disputes and eviction

If you rent commercial property to a business owner, or if you rent property to run your own business, numerous responsibilities may be on your plate. Whether you have to manage multiple rental properties or are only renting one unit, you may run into disagreements over any number of issues. At Dunlap & Seeger, our Minnesota firm knows that there are different reasons why landlords decide to evict tenants. If you are in this position, it may be helpful to review some of the ins and outs of eviction and you should carefully prepare for any obstacles that may arise.

If your tenant is refusing to pay rent, eviction may allow you to gain access to back rent and find a new tenant who will make payments on time, which can be financially beneficial. Moreover, you may experience less stress and even anger, which is also helpful. Whether you want to protect your property from damage that is being caused by a current renter or you want to have them held accountable for violating the terms of the rental agreement, there are all sorts of factors that can play a role in your decision to move forward with an eviction.

6 reasons new businesses go bankrupt

In the early days, your new business idea is exciting. It's fresh. It's invigorating. You can't wait to get it off the ground.

Once you get running, though, things don't quite click the way you hoped. You're a young business owner, at 35, but you're already worried about bankruptcy. Is your start-up falling apart?

Streamline your vision with a business plan

Starting your own business is a notable accomplishment and one that can pay valuable dividends in the long run. During formation, an imperative step to take involves identifying and creating your vision. From here, a business plan can help you streamline your efforts to achieve your long-term goals. At Dunlap & Seeger, we have helped many Minnesota business owners through the process of organizing a company.

According to Santa Clara University, a healthy business plan is one that follows specific protocols designed to make your vision as clear an accessible as possible. These include the following:

  • Pay attention to specifics: A general outline is crucial to helping you create reasonable and applicable goals that will put you on the path of long-term success. Consider basic specifics including the how’s, when’s, what’s and where’s that will allow you to reach your ideal.
  • Use graphics: Graphical tools like charts can help you envision your goals. These tools can also be exciting to reference in the future as you look back at your company’s growth.
  • Spend time refining: Once you have identified a concept for your business, interject this information into your plan. Spend considerable time drafting and refining your content to guarantee that it is understandable, concise and focused.
  • Share your vision: Do not be afraid to share your vision with trusted colleagues and associates. Doing so can encourage accountability for people like yourself who are working to execute the plan, as well as function as a source of motivation.

The search for angel investors

Many entrepreneurs in Minnesota who have a great idea for a business may not necessarily be able to go to a bank or other lending source and get a traditional loan without collateral. However, according to Forbes magazine, there may be individual investors, called angel investors, who are interested in getting on board with a concept they believe in.

Finding angel investors may be challenging, but there is a process. An entrepreneur should prepare by determining what would make an angel ideal for his or her company. Because investors often want to have a voice in the business, it is wise to look for people with a background in the same industry, and who live in the area. Preferably, an angel will have a net worth that exceeds $1 million and a yearly income of more than $100,000. Most are between the ages of 40 and 65.

Taking the complication out of your estate planning

If you have started to think about planning your estate, you have probably already begun to feel overwhelmed. You are certainly not alone because a lot of Minnesota residents share the same feelings of angst. At Dunlap & Seeger, we have helped many people to navigate the complexities of planning their estate to create a valid and clear proposal for surviving family members.

According to usnews.com, there are actions you can take to eliminate some of the complications that often create setbacks and stress during estate planning. Some of these suggestions include the following:

  • Think about guardianship: If you have dependents who rely on you for their well-being and care, it is important to consider including guardianship plans in your will. This clause will provide living family members with clear directions as to the care and needs of the people you love most.
  • Consider life insurance: Your decision to invest in a life insurance policy can provide countless benefits to family members who rely on you for financial support. With adequate coverage in place, you can avoid leaving family members scrambling for assistance if something happens to you.
  • Create a will: Your will is one of the most valuable documents you can write during your lifetime. This important piece of content will clearly articulate your wishes for remaining family members. Everything from beneficiaries who will receive your property, where you would like your money to go and who you want to care for any dependents you may still have, can all be included in the document.

What is the role of capacity in estate planning?

When you are planning your estate and developing all the legal documents that go along with this process, you will be assessed in Minnesota. This assessment is to ensure you have the mental capacity or ability to enter into legally binding agreements, such as a will or a power of attorney. The law has set varying standards for capacity in different situations relating to estate planning according to the American Psychological Association.

Capacity is often judged by your attorney before he or she takes you on as a client. Generally, ethical rules will guide this assessment. Attorneys will often do what they can to ensure you are capable of entering into a legally binding agreement.

What can a joint venture do for you?

Creating and maintaining your own business has many rewarding perks, but it also requires a lot of dedication, strategic allocation of resources and a willingness to take risks. If you have considered the possibility of negotiating a joint venture in Minnesota, you may be wondering if the risk is worth the reward. Fortunately, when leveraged the right way, a joint venture has many incredible benefits.

According to the Huffington Post, combining competencies and strengths with another company has the potential to help your business reach new heights and experience significant success. Some of the things a joint venture can facilitate include the following:

  • Reduced production time: With a combination of resources, you may notice that the amount of time it takes to produce your product is cut significantly.
  • Higher quality products or services: Working with another entity may allow you more time to focus on creating a higher quality product or service.
  • Cost savings: Building off of the success, knowledge and experiences of another business can help you cut costs and even reduce the risks of new investments.
  • Product development: Using each other’s strengths, you and your joint venture partner can develop innovative ideas for product development.
  • Market expansion: Playing off of the marketability, economic status and consumer base of each other, a joint venture opportunity can help you expand into new markets and explore prospective niche markets.

Reasons to read a franchise agreement before you sign

You've decided that you are going to open a franchise. You investigated each of the franchises you were considering and decided on the one that you feel is the best for your situation. Now, you have to work through the process of making your dream happen.

One of the things that you will have to do when you want to open a franchise is to sign the agreement. This is the backbone of your relationship with the franchise. You should read it and understand every point made in it before you sign on the dotted line. Here are some things you need to think about.

How to pay for nursing home care

Even if you have great health, the odds are high that at some point in the future, you or a close loved one will require care in a nursing home. With greater advances in technology and medicine, the residents of Minnesota and other states are living to older ages and increasing the likelihood that they will require long-term care. We at Dunlap and Seeger are here to help you prepare for the costs that may be incurred if you need to pay for nursing home care in the future.

 

Getting your start-up business off on the right foot

There is little else as empowering and nerve-wracking as starting your own company and navigating the growth pains that accompany such an endeavor. At Dunlap & Seeger, we have helped many Minnesota residents like yourself to work their way through setting up their own business.

The Huffington Post suggests several foundational steps that can lead to your success in getting things started on the right foot. These include the following:

  • Remember your reason: Never lose sight of your passion or reason for starting a business. Use your vision as fuel to propel you onto greater things.
  • Be thorough: Do not succumb to shortcuts to save resources. Sometimes, you have to do things the long way to realize success that will stick and yield a return on your investment.
  • Be customer-focused: Your customers should always be the center focus of your efforts. With a solid base of happy customers who feel their best interest is your priority, you can strengthen your brand image and build superior credibility.
  • Take risks: Never be afraid to think outside of the box and take risks. Despite your anxiety and apprehension of the unknown, taking risks can result in your most successful accomplishments that may not have been possible any other way.
  • Return the favor: If you have people who have guided, mentored or supported you along the way to success, be proactive about giving back and sharing your success.

Contact Us Today Our lawyers listen carefully to your goals and concerns while helping you obtain the best results possible. Call 507-316-0628 or fill out the form to email our team.

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Rochester, MN 55904

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