201507.31
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Buy-Sell Agreements and Getting Out of Business

When people go into business, they rarely think of how to get out. Even so, it’s one of the most important things they should consider. Sometimes the business owners have an agreement between them in place; many times, however, they don’t. Avoid the anguish and headaches of a long, drawn-out corporate break-up and have a buy-sell agreement put…

201507.23
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Selling Goods Internationally and Strange Coincidences

When I checked my email on Monday afternoon, I was a little surprised to find a legal question from another Minnesota lawyer. Not because I didn’t know the lawyer (I didn’t), but mostly because his question was on the sale of goods—a topic I had just been writing about a few minutes earlier in that afternoon’s…

201507.20
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Sales of Goods and the Uniform Commercial Code

If you’ve been reading this blog lately, you’ve probably noticed a theme developing with the Uniform Commercial Code. As the set of statutes that defines things like sales of goods, negotiable instruments, investment property, and security interests, it relates to much of what we consider “business.” However, it doesn’t apply just to businesses, but to…

201507.15
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The Legal Side of Developing a New Product

Many entrepreneurial people have, at least one time in their life, uttered the tell-all phrase, “You know what would be a great business idea?” It’s the heart of innovation–discovering or rediscovering a tool, device, or other product that would make life simpler, easier, or more efficient. Far too often, though, that “great business idea” is never…

201507.13
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Creating an Enforceable Noncompete Agreement

Noncompete agreements, also known as noncompetition agreements or simply noncompetes, restrict what a former employee of a business can do during or after he leaves. Since an employee is typically privy to private business information and trade secrets, these agreed-upon restrictions (a/k/a restrictive covenants) generally guarantee that the employee won’t take actions that will undermine or…