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Family farmers in Minnesota work hard to build sustainable, productive operations—often across generations. Yet despite that long-term investment, many farming families do not have a formal succession plan in place. This can create confusion, conflict and financial...
There are many benefits that one organization can obtain from merging with another business. The combined entity created through the merger may have a bigger market share. Access to specific premises, intellectual property and talent can also make a merger beneficial...
Maybe you were chosen by a loved one to be the personal representative (executor) of their estate because they believed in your business savvy. Perhaps a probate court named you because your loved one didn’t name anyone in an estate planning document before they...
Leasing commercial property can help a business connect with new customers and/or expand into new territory. However, every commercial lease involves a degree of risk. The business owner or executive planning an expansion to new facilities may need help reviewing the...
People who start or purchase businesses often plan to continue running them indefinitely. They may want to work at the company until they retire. They may intentionally perform as many job functions on their own as they can to keep company costs low and profit margins...
Producing or acquiring intellectual property can give a business a competitive advantage. Original creative works can be useful for branding or can be sources of revenue. Trademarks can help companies establish a loyal customer base by becoming easily recognizable....
Running a successful agricultural enterprise is no small undertaking. Farmers are often at work from before the sunrise until well after it sets. They have to handle everything from dealing with animal incursions to working on malfunctioning equipment. Even those who...
Entrepreneurs developing new business concepts are often eager to move forward as quickly as possible. They want to establish themselves in an as-of-yet unoccupied economic niche before competitors get the same idea. The beginning of a business is a time when people...
Having the right talent on staff is crucial for the long-term success of a business. Companies often hire specialists to help recruit and train talent. Some organizations even work with outside companies and professional recruiters for that purpose. Workers are one of...
A business partnership is one of the most influential relationships a person can establish. A partner contributes money and talent toward an entrepreneurial endeavor. Their work and ongoing financial support can be crucial to the company's long-term success. Those...