Minnesota Business Law Deskbook: Corporations and LLCs, 1st Edition

Edited by Frank B. Bennett, Barry F. Clegg, Paul M. Floyd, Kimberly A. Lowe, J. Patrick Plunkett, Judith M. Rush & Dudley Ryan

Table of Contents

CHAPTER 1

Lawyer-Client Relations in the Business Law Context
Initial Client Contact; Identifying the Client; Accepting and Declining Representation; Scope of Services; Fees; Retention Agreements; Avoiding Conflicts; Other Ethical Issues; Good Lawyering

- J. Patrick Plunkett & Judith M. Rush

 

CHAPTER 2

Choice of Entity
Types of Entities; Sole Proprietorships; General Partnerships; Other Partnership Formats; Corporations; Limited Liability Companies; Business Trusts; Entity Classification for Tax Purposes; Critical Factors in Choosing Entity; Tax Considerations

- Aaron J. Crandall

 

CHAPTER 3

Business Formation Process and Documents
General Overview; Incorporation/Organization Checklist; State of Incorporation; Formation and Formation Documents; Additional Formation Documents; Governance Documents; Chapter 3 Appendices

- Kimberly A. Lowe & Jessica D. Sherman

 

CHAPTER 4

Initial Capitalization and Financing/Employee Ownership
Capitalization; Control Issues; Minority Owner Rights; Founder Financing; Commercial Bank Financing; Employee Equity Incentive Compensation

- E. Patrick Shriver

 

CHAPTER 5

Executive Compensation
Introduction; Establishing the Terms of Employment; Providing for Retirement: Deferred Compensation; Tax Considerations For Deferred Compensation and other Executive Benefit Arrangements; Unfunded Status of Nonqualified Deferred Compensation Plans; Special Issues for Tax-Exempt and Governmental Employers; Special Issues for Public Companies; Special Considerations for Partnerships and LLCs

- Richard A. Hackett & Virginia S. Schubert

 

CHAPTER 6

Corporate Governance/Board of Directors
Amending Articles and Bylaws; Actions Without Meetings; Cumulative Voting for Directors; Liability for Directors and Limiting Liability; Preemptive Rights; Voting Rights; Classes of Stock; Conflicts of Interest; Fiduciary Duty; Right to Inspect Records; Indemnification; use of Advisory Boards; Dividends and Stock Splits

- Mark D. Williamson & Maxwell J. Bremer

 

CHAPTER 7

Equity Holder Agreements
Overview; Buy-Sell Provisions; Buy-Sell Agreements’ Role In Shareholder Litigation

- Kathy S. Kimmel & Phillip B. Martin

 

CHAPTER 8

Private Capital Formation
Introduction; Securities and Registration Concerns; Federal Exemptions; Minnesota and Other State Exemptions; Integration; Anti-Fraud Considerations; Disqualification Provisions; Restrictions on Resale of Securities; Seed Rounds: Initial Financing Sources; Preparing for the Next Level of Financing; Other Pre-Institutional Rounds; Subsequent Rounds in a Limited Liability Company; Venture Capital Investment

- Thomas G. Lovett IV & April M. Hamlin

 

CHAPTER 9

Limited Liability, Piercing the Corporate Veil, Reverse Piercing and Successor Liability
Limited Liability; Exceptions to Limited Liability; Piercing the Corporate Veil; Reverse Piercing; Successor Liability

- Nancy J. Berry & Monica A. Kelley

 

CHAPTER 10

Sales and Mergers of Corporations and Limited Liability Companies in Minnesota
Motives for Mergers and Acquisitions; Professionals in the M&A Process; Confidentiality Agreements; Letters of Intent; Due Diligence; Structuring the M&A Transaction; Asset Purchase; Stock or Membership Interest Purchase; Merger; Spin Out; Special Considerations in Minnesota Stock Transactions; Types of Transaction Consideration; Basic Tax Considerations; Ancillary Documents in M&A Transactions; Pre-Closing Considerations and Closing

- Peter V. Michaud

 

CHAPTER 11

Dissolution, Liquidation, Receivership, and Bankruptcy

Definitions and Context; Voluntary Dissolution by Shareholders/Members; Statutory Dissolution and De Facto Dissolution; Involuntary Dissolution; Corporate Receivership/Assignment for the Benefit of Creditors; Bankruptcy Considerations

- Douglas W. Kassebaum