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Stealing or commonly referred to as theft is not uncommon in business. Now that you have realized the wrong doing by your business partner(s) you must act quickly, so you will be more likely to recover damages, stolen property and/or money. 4 COMMON TYPES OF THEFT Physical and Intellectual Property Theft Physical theft is self-explanatory;
Profits and Losses Sole Proprietorship The sole proprietor receives all the profits from the business, and bears all the losses, which may exceed the proprietor’s investment in the business. Partnership In the general partnership, the limited liability partnership, the limited liability limited partnership and the limited partnership, profits and losses are passed through to the
The Beginning of a Business A startup business, regardless of form, generally will find it difficult to obtain outside financing. The statistical failure rate for new businesses is high, and many lenders view financing the startup business venture as extremely risky. Banks and other creditors generally will require a significant capital investment by the business
When workers perform services for a business, they may be classified as independent contractors (1099) or employees. It is critical that they be classified correctly. If the worker is an employee, generally the employer must withhold and deposit income taxes, Social Security taxes and Medicare taxes. In addition to these taxes, the employer must pay
Personal injury law, or sometimes referred to as tort law, covers cases where a person is hurt or injured, as a result of someone else’s negligence. This is a form of civil law, which means one private party is suing another, unlike criminal law where the government prosecutes someone. In these suits the injury may
WHAT IS A RENT ESCROW ACTION? A rent escrow action is a legal way for a residential tenant to bring a claim that requires his or her landlord to make needed repairs and/or to comply with the terms of the lease. Keep in mind, a court can only hear cases involving residential property located in
WHAT IS A LAWSUIT? A lawsuit is started against a person or company in Minnesota state courts by service of legal documents called a Summons and Complaint. The person or company bringing the lawsuit is known as the “Plaintiff.” The person being sued is known as the “Defendant.” The Complaint is a legal document in
When workers perform services for a business, they may be classified as independent contractors (1099) or employees. It is critical that they be classified correctly. If the worker is an employee, generally the employer must withhold and deposit income taxes, Social Security taxes and Medicare taxes. In addition to these taxes, the employer must pay
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