Employers – Know Your Data Breach Laws
Almost every state in the United States has a data breach notification statute. Minnesota created data breach notification statutes some time ago, which provide, in part:Any person or business that conducts business in [Minnesota], and that owns or licenses data that includes personal information, shall disclose any breach of the security of the system following… View Article
Posted on Tuesday, May 5th, 2015
PCI Compliance Update – New PCI Data Security Standard Version 3.1
The new version 3.1 of the PCI Data Security Standard (“PCI DSS”) is now available and provides clarifications and guidance on a number of PCI DSS requirements. For example, Secure Sockets Layer (SSL) and Transport Layer Security (TLS) are no longer considered strong cryptography and cannot be used for new implementations and cannot be used… View Article
Posted on Monday, April 27th, 2015
Cap Tables and Why They Exist
Essentially a “cap table” is a list of a company’s securities (in the form of stocks, warrants, options, etc.) and the holders of such securities. At the most basic level, a cap table shows who has an ownership interest in, or rights to an ownership interest in, the company. Many cap tables provide further detail… View Article
Posted on Thursday, April 9th, 2015
Forming a Corporation or LLC is Important
In light of the well-known costs of litigation, personal exposure to debts and various liabilities, and myriad statutory, administrative and other laws to comply with, why do so many sole proprietorships and general partnerships still exist? Because of the relatively low cost of forming an LLC or corporation when compared to the potential risks, the… View Article
Posted on Monday, March 16th, 2015
Consider the Ramifications Before Agreeing to Data Aggregation Terms
The age of “Big Data” is upon us. Big data is essentially a catch-phrase used to describe massive amounts of data (in one or more types or forms, and in varying varieties, complexities and velocities), that is so large as to be difficult to process or use efficiently. The concept of big data is relevant… View Article
Posted on Thursday, February 12th, 2015
Wait – Before Selling Your Business, Do a Risk Assessment
Whether a strategic buyer, a private equity investor or another type of purchaser, most buyers prefer to avoid risk. So much so, that most buyers will pay a premium if the equity or assets they are purchasing don’t come with excessive legal baggage, liability, or other risks.Many business owners have given extremely large amounts of… View Article
Posted on Friday, January 2nd, 2015
Importance of Keeping Good Corporate Records
Buyers, investors, and underwriters. What do these three groups have in common? They all generally engage in pre-transaction diligence before moving forward with a transaction (e.g. purchase, investment, IPO, etc.) to ensure that there are no weird or non-market terms in organizational documents or other issues that may throw a wrench in the deal or… View Article
Posted on Saturday, December 6th, 2014
Residential Real Estate Professionals: Ten Tips to Decrease Your Chances of Getting Sued or Losing a Lawsuit
Many real estate licensees share a common goal – don’t get sued. But licensees who work “by the book” can still get sued. In fact, I’ve known many great real estate professionals who have found themselves in the middle of disputes (some petty, some catastrophic).To drive this point home, imagine two licensees.The first licensee plays… View Article
Posted on Sunday, November 2nd, 2014
Ownership of Domains: A Small Issue that May Become a Big Problem
Domain names are often one of the main identifiers of a business, its identity, its intellectual property and its website. A domain name generally corresponds to a certain IP (Internet Protocol) resource or address within the Domain Name System (essentially, the phone/address book for the internet).Ownership of domain names is different than many other types… View Article
Posted on Monday, October 6th, 2014
Tax Credits Are Your Friend
Approximately half of the states in the United States now offer some sort of tax credit to spark entrepreneurial growth and/or start-up investment. Each state tax credit program is unique and has different requirements and benefits (types of business or industry, amount of tax credit, refundable or non-refundable tax credits, etc.) but Minnesota has an… View Article
Posted on Tuesday, September 2nd, 2014