As part of the 2014 legislative session, Minnesota adopted a Revised Uniform Limited Liability Company Act. This is the most significant change affecting Minnesota limited liability companies (LLCs) law since LLCs were first permitted in Minnesota in 1993.
Lawsuits and business disputes are not restricted to for-profit business activities in Minnesota. The state Attorney General, Lori Swanson, sued the international thrift store chain Savers in Henepin District Court on May 21. According to her charges, the chain is seriously misleading the public on the amount of its donated clothing and furniture proceeds that actually goes to charities.
Small business operations in Minnesota employed 1.2 million individuals or almost half of the private workforce in the state, according to a recent report by the U.S. Small Business Administration. In its profile, the SBA reported that there were 503,055 small businesses in the state which comprise 97.8 of all of its employers.
Minnesota businesses rely on insurance policies to provide financial protection in accidents and commercial disputes. A recent decision from the federal Eighth Circuit Court of Appeals, with jurisdiction over Minnesota, revealed that insurance policies may not provide this coverage when it is most needed during litigation.
Minnesota businesses can face serious setbacks by not providing sufficient attention to the fine print of agreements. This may have particularly serious ramifications in commercial real estate leases that may allow for the sale of the property occupied by a tenant's business.
Title VII of the 1964 U.S. Civil Rights Act prohibits an employer from discriminating against its workers because of race, color, religion, sex and national origin. An employers may not retaliate against an employee who charges their employer with discrimination under Title VII or if an employer takes actions that would dissuade a reasonable worker from making discrimination charges under this law.
Use of commercial real estate in Minnesota may be governed by a zoning laws, law use ordinances and other legal restrictions that restrict the use of the property. Through contract, however, the seller of the real estate can control its use, even after the property is sold.
Minnesota excluded its east side comprised of the Mill District to the north, Elliot Park to the southeast and the deserted area in-between from development. A turnaround was anticipated after the Minnesota Vikings and state legislators agreed to demolish the Metrodome and build a new football stadium in 2012.
Minnesota employers may face litigation if they violate an employee's legal rights or discriminate against certain workers. As one example of these employment disputes, Minnesota and federal laws protect the rights of pregnant workers.
The Securities and Exchange Commission adopted new rules which are intended to improve small business startups by providing access to capital and more choices to investors. The regulations are required under the Jumpstart Our Business Startups Act and update Regulation A, the current registration exemption for small issuers of securities.