Business


Patents: The Six Most Frequently Asked Questions

Innovation, invention, and the process of translating ideas into products and services has been, and remains, a major factor in Minnesota's economic growth. Indeed, in today's world that process has even greater importance in light of national productivity and international competitiveness. The below frequently asked questions are an introduction for inventors and entrepreneurs on how

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Terms and Conditions to Protect the Seller in a Business Acquisition

When a seller chooses to sell their business it is a big decision. Choosing to sell a business is complicated. Sellers are not only selling the business; they are selling everything the business represents. Along with the name and location of the business, the seller is selling their reputation, customers, and hard work. The seller

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Checklist: Steps for Successfully Selling Your Business

For many business owners, selling their company is uncharted territory. The process can be daunting and overwhelming - but it doesn't have to be. Use the below steps as a checklist to simplify and clarify everything you need to do to ensure that selling your business goes successfully: If the business is a corporation, have

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Getting New Employees Off to a Positive Start

The following is a guest article written by Tony E. Trussell of Business Whyse Emotionally charged experiences create lasting memories.  It has been 50 years, but I still remember kissing Peggy behind the lilac bush on our way home from 5th grade like it was yesterday. The experience was scary, exciting and pleasant all at once. First

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Raise Money with Equity Crowdfunding

Title III of the JOBS ACT creates a Federal exemption under the securities laws to allow raising capital for projects by offering and selling securities through Crowdfunding. On October 30, 2015, the Securities and Exchange Commission adopted the final rules to allow this type of Crowdfunding (Equity Crowdfunding). The rules will be effective 180 days

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Free Examples: LLC & Corporation Meeting Minutes & Written Actions

Below are examples business owners can use as templates for meeting minutes and written actions in an LLC or corporation. Business laws in the United States require a business owner to follow certain formalities to avoid piercing the corporate veil. In an LLC, this is referred to as piercing the limited liability shield. In other

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Written Action of Board of Directors of Corporation – Example & Template

Below is an example of a Written Action of a Board of Directors in a corporation. This written action can be used instead of the board meeting together. That is, instead of calling a meeting, a quorum of the corporation's board of directors can sign a Written Action, which takes the place of meeting and passing a resolution.

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Written Action of Shareholders – Example & Template

Below is an example of a Written Action of Shareholders (owners) that can be used instead of the shareholders meeting together. Instead of meeting, a quorum of shareholders can sign a Written Action of Shareholders, which takes the place of meeting and passing a resolution. Business owners and business attorneys can use this example as a template. Go here

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Written Action of Incorporator of Corporation – Example & Template

Below is an example of a Written Action of an Incorporator. This sample is for a privately owned corporation, including an S corp. An incorporator is the person who files the Articles of Incorporation with the government, initially forming the corporation. The incorporator may be a shareholder, corporate attorney, or another party. An incorporator is the person doing the clerical

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Board of Directors Meeting Minutes – Example & Template

Below is an example of meeting minutes for an annual meeting of a board of directors in a privately held corporation, including an S corp. Business owners and business attorneys can use this example as a template. Go here for more free examples and templates of LLC and corporate meeting minutes and written actions.   Annual Meeting of Board of Directors of

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Shareholders Meeting Minutes – Example & Template

Below is an example of meeting minutes for the annual shareholder meeting in a privately owned corporation, including an S corp. Shareholders are the owners of the corporation. Shareholders can amend the Articles of Incorporation, amend the Bylaws, and take all other actions on behalf of the corporation. A resolution properly approved by shareholders is the final authority

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Written Action of LLC Board of Governors – Example & Template

Below is an example of a Written Action of an LLC's Board of Governors that can be used instead of the board meeting together. Instead of calling a meeting, a quorum of the LLC's governors can sign a Written Action, which takes the place of meeting and passing a resolution. The board of governors is the LLC counterpart to

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Written Action of LLC Members – Example & Template

Below is an example of a Written Action of LLC members (owners) that can be used instead of the members meeting together. Instead of meeting, a quorum of LLC members can sign a Written Action, which takes the place of meeting and passing a resolution. Business owners and business attorneys can use this example as a template. Go

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Written Action of LLC Organizer – Example & Template

Below is an example of a Written Action of an Organizer of an LLC. An organizer is the person who files the LLC paperwork with the government, initially forming the company. The organizer may be the LLC's owner, attorney, or another party. An organizer is the LLC counterpart to an incorporator in a corporation. Business owners and business attorneys

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LLC Board of Governors Meeting Minutes – Example & Template

Below is an example of meeting minutes for an LLC's annual meeting of its board of governors. The board of governors is the LLC counterpart to a board of directors in a corporation. Business owners and business attorneys can use this example as a template. Go here for more free examples and templates of LLC and corporate meeting minutes

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LLC Member Meeting Minutes – Example & Template

Below is an example of meeting minutes for an LLC's annual meeting of its members. In an LLC, members are the owners of the company. The members of an LLC are the counterpart to shareholders in a corporation. Business owners and business attorneys can use this example as a template. Go here for more free examples and templates

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MNvest: Minnesota Crowdfunding for Company Equity

MNvest is the name of a new Minnesota state law allowing crowdfunding for small companies in Minnesota. MNvest allows companies to raise capital online from unaccredited investors. MNvest is overseen by the Minnesota Department of Commerce. Unlike other crowdfunding websites—like Kickstarter, GoFundMe, and Indiegogo—MNvest allows companies to raise capital in exchange for offering equity ownership

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ESOP: How to Sell Your Company to Your Employees

An Employee Stock Ownership Plan (ESOP) allows a company's employees to own some or all of the company. An ESOP is used to buy out equity from a current owner, create benefits for employees, and give employees a stake in the company, which may impact morale as well as public relations. An ESOP has significant tax benefits.

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Business Owners: How to Avoid Being the Center of Your Operations

As an Entrepreneur, there are so many things that need your attention: monitoring cash flow, hiring the right people, marketing your business and so on. In my travels as a business coach, I have learned there are many similarities among owners and the issues they face, no matter the industry type or size of the

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How to Hold a World-Class Weekly Meeting & Improve Productivity

The following is a guest article from Gino Wickman, author of Traction: Get a Grip on Your Business: If you will give me 15 minutes of your life right now, I will greatly improve your company's productivity. To accomplish this (get ready-it's not too sexy), you must have world-class weekly meetings with your leadership team.

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