Business Law
Business Law
Business law focuses on issues common in running a business. The parties are business partners, employees, vendors, or service providers. Business issues can range from business partnership problems to improper entity formation. Running a construction business requires special skills that rely on both experiences in the construction industry and legal knowledge involving business operations.
At Minnesota Construction Law Services, we take on many roles, such as your succession planning consultants or a partnership dispute lawyer, to provide versatile guidance to help your business. Our ultimate goal is to understand exactly what you want from your business and take action to get you there.
THE MOST IMPORTANT CONSTRUCTION PROJECT
Business Partners First, Lawyers Second.
PROCESS
What is our process?
We want to understand what you want from your business. For transactional issues, what are the important issues that need to be addressed in the document we are drafting? For disputes, what is the desired resolution or outcome?
Step One: Understand your business
For transactional, what have the parties agreed to and has agreement been reached on all the key issues? For disputes, we need to know whether the contract addresses the issue, how it was addressed, who’s at fault, and what damages resulted.
Step Two: Outline the issue
Implement the developed plan, approved by the client, that repairs or fixes the transactional or dispute issue to reach the goals and outcomes you define as success. Each solution is personalized to the needs of individual businesses.
Step Four: Carry out the solution
For transactional, create a personalized document that addresses the issue that matches the standard of your business. For disputes, we use the contract to determine who is accountable and gather facts to fill in the contract gaps.
Step Three: Develop the plan
Common Issues
As a contractor, your business is the most important business you are building and requires the same degree of planning and detail as a construction project. Yet it can be difficult and confusing to create a business plan, but that is how MNCLS can help you. Below are common questions about construction business law.
BUSINESS LAW
First, a merger is when two companies combine their resources and staff to establish a new company that will ultimately benefit them both. In comparison, an acquisition is when one company purchases another company under their name. We must understand your goals so that we can help you evaluate whether the merger or acquisition will accomplish your objectives. Once we have a clear understanding of your objectives, we’ll prepare a sales agreement for the acquisition of the entire business, or just the assets and liabilities that will be included in the sale. This agreement needs to comprehensive and clear, such as financial information, background details, etc., to avoid complications after the sale.
Our attorneys are experienced small business operators and stay current with the frequent tax law changes specific to construction. For those issues deep in the weeds, we rely on experienced tax attorneys for help. Such expertise provides significant benefits to your business because it informs us as to the best legal structures for your unique business, ensures that our contract reviews and negotiation assistance are grounded in understanding how to achieve your goals, enables us to guide sales anchored in personal experience, and more.
Business partnerships are like marriages: you never get into one with someone you don’t like or trust, but people change and disputes can end the love. Partnership disputes in construction are caused by different factors, called triggering events, that make it impossible for the partners to continue in the business. Triggering events can include breached contracts, undisclosed information, a spouse being transferred, a death or divorce, or a simple change of heart or interest that causes one partner to move on to something else. A poor partnership can lead to poor business, impacting your profits. A business lawyer who understands business and knows the law can provide distinct knowledge in drafting legal documents to avoid potential loopholes in an agreement and guide clear lines of communication.
YOUR BUSINESS PARTNER AND LEGAL CONSULTANT
Areas of Business Law
At Minnesota Construction Law Services, we understand what it is like to be a business owner. We always consider the contractor’s business first when providing legal services, and that is why we are not only your attorney but your business partner.