On January 5, 2023 the Federal Trade Commission (FTC) proposed a ban on non-compete agreements, which would free up workers to take new jobs with competing companies, or start their own competing businesses, without fear of being sued by their former employers.
LLC Buyout Litigation Basics
Ideally, buyers of a limited liability company will sign a written agreement that describes what they own and how the LLC will be run – and they will follow the rules they made in their agreement.
Why Your Financial Advisor Will Not Likely Recommend Cryptocurrency Anytime Soon
If you have been on planet earth over the last several years you know cryptocurrencies have been all the rage, with Bitcoin’s price reaching an all-time high of more than $63,000 in April of 2021 after rocketing up from only $8,000 the year earlier.
Standing in Minnesota Court Debt Collection Cases
Plaintiffs sometimes opt to bring claims under the Fair Debt Collection Practices Act (“FDCPA”) in state court, even though the FDCPA is a federal law prohibiting abusive collection methods nationwide. Because state court FDCPA cases remain the exception, rather than the rule, questions of standing are still generally resolved by...
Frustrated Agreements
Businesses enter commercial contracts based on expectations (or guesses!) about future market conditions. Some expectations are inherently uncertain. Will demand for a product grow? How much? Will new competitors emerge? If uncertain events play out differently than hoped and a contract becomes unprofitable, the business is usually out of luck. ...
The Uniform Law Commission Publishes Final Uniform Restrictive Employment Agreement Act
The Uniform Law Commission (“ULC”) recently published the final Uniform Restrictive Employment Agreement Act (“Act”). Restrictive employment agreements – or restrictive covenants – are agreements that restrict an employee from working after the employment relationship ends.
Minnesota Liens on Personal Property in Self-Storage Act and the Significant 2021 Amendment
The Minnesota Liens on Personal Property in Self-Service Storage Act (the “Self-Storage Act”) located at Sections 514.970 to 514.979, provides self-storage owners with a very powerful and non-judicial (meaning, outside of the courts) foreclosure process to address situations in which self-storage tenants fail to pay rent.
New Name, Image and Likeness Protections for Minnesota College Athletes
The Supreme Court has issued seismic decision for the future of college sports. Despite having come down mere weeks ago, the effects of that decision can already be felt throughout practice fields, classrooms, and statehouses nationwide.
Squeeze Out Mergers
“Squeeze out” mergers are one of the (many) threats faced by minority owners of corporations.[1] In a typical squeeze out, the majority owner sells the business to another corporation controlled by the majority owner – which the minority owner is not part of. This action can effectively create a forced...
U.S. Department of Labor to Raise Minimum Wage for Federal Contractors
On July 21, 2021 the Department of Labor announced a proposed rule raising the minimum wage for all federal contractors to $15 per hour. This is a “proposed rule,” and thus requires the Department to engage in the formal rulemaking process (which allows for hearings and public comment), the Department’s...