Your Minnesota Small Business Attorney
Posts by Stephanie O Nelson
Venus Zine: On the Job With Budge Law Offices LLC
Check out this article featuring Budge Law Offices in the latest edition of Venus Zine, an online magazine for women in music, fashion, culture and D.I.Y. “On The Job With … is a monthly column that explores interesting women with interesting jobs. We get the scoop on each lady’s working process, what makes her want to get up every day, and get advice for others looking to break into her field. The column is written by Dana Raidt who is a regular contributor for Venus Zine. “
Read MoreInsurance Options for Small Business Owners
A small business, just like any business, is exposed to a variety of risks. A small business owner should take the necessary acts to mitigate risk by purchasing insurance. Without it, your business may not survive financially if faced with a liability. Choosing insurance might feel overwhelming because there are so many options. Here is a quick overview of some typical business insurance plans: Commercial Property Insurance protects business property and inventory against physical loss or damage by theft, accident or other means. Building and Personal Property Coverage covers direct physical loss of or damage to your building, business personal property at the premises...
Read MoreProtecting Your Intellectual Property: Patents
Our last two intellectual property blog entries focused on copyrights and trademarks. Here is a brief overview of patents… Patents provide exclusive rights to make, use, import, sell and offer for sale an invention for up to 20 years. There are three types of patents: 1) Utility patents – protect useful processes, machines, articles of manufacture, and compositions of matter. 2) Design patents – guard the unauthorized use of new, original, and ornamental designs for articles of manufacture. 3) Plant patents – protect invented or discovered, asexually reproduced plant varieties. To obtain rights on an invention or design, you must submit a...
Read MoreContracts Overview: Receiving a Contract
A small business owner will have to deal with many contracts: lease agreements, purchase agreements, distribution agreements, licenses, etc. Sometimes your business will draft a contract or negotiate with another party. The most common situtation, however, is receiving a contract to sign. RECEIVING A CONTRACT When a contract arrives on your desk, you might feel comfortable skimming over the legalese and signing your name. Don’t do it! The contract drafter structures the contract in their benefit. Therefore, a contract that ends up on your desk doesn’t protect your business. What should you do? Read over the contract and make changes. Many business owners feel...
Read MoreEstate Planning for Small Business Owners
Many of our clients are just starting their first business. A new business owner is excited and hopeful and the last question we’d like to ask is “What happens if you can’t run your business?” Estate planning, however, is a necessary part of a business plan. In an emergency, an estate plan will successfully direct business partners, employees and family members to keep a business afloat in an owner’s absence. Here are three estate planning documents to protect a business owner during their lifetime: 1) Power of Attorney: This document gives another person the power to make business, financial and legal decisions on a business owner’s...
Read More