Discuss the best advice you can give to shareholders and business owners alike to avoid future pitfalls that end up being litigated
Minneapolis business litigation attorney Charlie Maier discusses how shareholders and business owners can avoid legal problems.
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The best advice I could give the owners of small businesses is to put things down in writing after you agree upon it. When people, as you know, often have conversations you can walk away from the conversation with different conclusions. By putting it in writing, if you have a dispute in the future you can go back and see what you actually agreed to. It really is treating the business like a business. Often these smaller businesses are friends or family and so they don’t like to put things in writing, because that feels like there isn’t trust, but it really is about making sure you run the business and you remember what you did.