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Is A Term Sheet Legally Binding?

Usually terms sheets are not legally binding, but it depends on the actual content of the document in question. Terms sheets vary considerably, but generally term sheets based off of U.S. law tend to fall into four different categories: Some term sheets begin by stating "the parties agree as follows" but fail to explicitly say that the document

Living Trusts: FAQs

A living trust is a legal document that outlines a person's desires with regards to their assets, dependents, and heirs. It is similar to a will but differs in some important ways. Wills only become effective after a person dies and the the will enters probate. However, a living trust avoids probate allowing the designated

Military Leave: Employers Need to Now Your Duties

What obligations do I have when employees are in the Guard and Reserves? Like most employers you probably find burdensome the unlimited time and duration of military leaves. But if you terminate employees who can't keep regular hours because of their military obligations, you'll find yourself in legal trouble. Most likely, a court will eventually

Should My Financial Planner and My Estate Planning Attorney Work Together?

For the most part, there is no reason why anyone needs to know the details regarding your estate plan or your financial plan. The exception to this general rule though is that your financial planner and your estate planning attorney should have at least a basic understanding of what each one is doing. Your financial

Zerorez v. U.S. Olympic Committee – Memorandum in Support of Motion to Dismiss

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MINNESOTA HSK LLC (d/b/a ZEROREZ) Plaintiff, v. UNITED STATES OLYMPIC COMMITTEE Defendant. Case No.: 16-civ-02641 -WMW-KMM MEMORANDUM IN SUPPORT OF MOTION TO DISMISS Shari L. J. Aberle #0306551 DORSEY &WHITNEY LLP 50 South Sixth Street Suite 1500 Minneapolis, MN 55402   Susan A. Smith (D.C.

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Why You Must Do Free Consultations to Get Your Best Clients

When was the last time you spent thousands of dollars with someone before you got to know them and knew they could help with your problem? If you are like most people, you need at least a few minutes with a professional before deciding to hire her. It should be no surprise that your clients

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

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

Why Don’t Things Get Done? 3 Reasons Your Company is Stuck

The following is a guest article from Bill Mills of Executive Group, Inc. Bill will be speaking at our Minnesota CEO & Business Owner Conference on October 8. As a leader in your organization you have a responsibility to get things done. These things need to be done correctly, on time and on budget. They