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.
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.
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.
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