Barna, Guzy & Steffen Blog
8 FOLLOWERS
Blog covers a range of topics, including Banking Law, Business Law, Criminal Law, Employment Law, and more. Barna, Guzy & Steffen, Ltd. serves clients for both individual and business law in the Twin Cities and beyond.
Barna, Guzy & Steffen Blog
3d ago
At some point, many business owners execute a will or trust to provide for the disposition of their personal assets. Those dispositions will either specifically or generally deal with their business ownership interests as well. However, business succession planning is also affected by an entity’s governing documents. This blog addresses the possible conflicts between the entity documents and the individual owner’s estate planning documents. Make sure your business attorney and estate planning attorney are each aware of your plans so you can avoid such conflicts. Governing Documents A ..read more
Barna, Guzy & Steffen Blog
1M ago
As they have for many years, BGS attorneys James Wills and Carole Clark Isakson attended and participated in the annual Minnesota Trucking Association conference in northern Minnesota last month. Corporate paralegal Rachel Schwankl also returned for another year of conference events, and associate Jacob LeVahn attended for the first time this year to round out the team. BGS is a member of the MTA and sponsors various events throughout the year for the organization, including the keynote speaker at the annual conference. This year’s conference featured multiple networking and educational events ..read more
Barna, Guzy & Steffen Blog
1M ago
Over the last several months, we have seen an uptick in the number of false claims being made concerning company names. These claims come in the form of a letter from a lawyer warning the recipient that its business name is about to be “taken” by a third party. There is an offer of help, and frequently a claim that if the recipient doesn’t act, this unknown third party will file a trademark application on the company name and deprive the recipient of the right to use it. THESE CLAIMS ARE GENERALLY FALSE. There is a difference between an entity name (i.e. for an entity that is created at t ..read more
Barna, Guzy & Steffen Blog
1M ago
This blog focuses on the many times your business will need an NDA—and why printing one from the internet might not accomplish what you need. A Non-Disclosure Agreement (NDA) is a binding document that restricts one party or multiple parties from disclosing certain information that is to be shared. Key points: An NDA can be in favor of only one party or cover all of them. Don’t assume the NDA that is presented to you covers your information unless it specifically says it does. The NDA should state its purpose. If there is a question later about how to interpret the document, knowing ..read more
Barna, Guzy & Steffen Blog
2M ago
Attorneys Scott Lepak and Bill Huefner spent the morning of Saturday, August 24th bass fishing on the Mississippi River near Royalton Minnesota with their trusty guide Tommy Steffen from Steffen’s Rum River Guide Service. The fishing was great with 43 smallmouth bass landed in 4 hours. Highlights of the trip included Bill and Scott landing a bass at the exact same time (noted in the picture). Bill was the largest fish winner this year. Scott was lucky enough to catch smallmouth #10, 20 and 30. Even with all the rain and high-water levels throughout the first part ..read more
Barna, Guzy & Steffen Blog
2M ago
To better serve our clients, BGS is remodeling! Starting September 3, our reception area will be temporarily located on the first floor, Suite 120. Clients/Visitors to BGS will check in with our receptionist in Suite 120. The fourth floor of the building will be closed to the public during the construction period. Please do not take the elevator to the fourth floor, but instead, proceed to Suite 120 to meet with reception. Thank you for your patience and cooperation while we work to improve our ..read more
Barna, Guzy & Steffen Blog
2M ago
Key Takeaways Under Minnesota State Law: Businesses should not use non-compete agreements for their employees and should not be including non-compete language in their employee handbook or onboarding processes anymore. Existing non-compete agreements entered before July 1, 2023, are still valid, so long as they are reasonable. Good Practice: Conduct due diligence on current agreements to verify that sufficient protections exist. Assess employees’ access to trade secrets to ensure business interests are being properly protected. Review venue provisions in form employment contracts. Review and s ..read more
Barna, Guzy & Steffen Blog
2M ago
The law firm of Barna, Guzy & Steffen, LTD. announces that Tyler W. Eubank and Lindsay K. Fischbach have been named Shareholders. Tyler is a 2015 summa cum laude graduate of Hamline University School of Law. His career began at BGS as a Law Clerk in 2013, and he was later hired as an Associate in the firm’s Business Litigation and Employment department. Tyler focuses his practice on Litigation and Employment Law, assisting clients with business disputes, unfair competition, contract actions, non-solicitation agreements, unlawful detainers, and other complex litigation cases ..read more
Barna, Guzy & Steffen Blog
4M ago
Almost weekly, I am contacted by a small business owner who needs their company’s corporate records to be “updated.” This “update” request is usually prompted by ownership changes, the sale of the company, or a potential lender doing its due diligence. In all cases, those other parties want to make sure that the company they are buying or investing in has been properly formed, is properly managed, and has designated those with authority to bind the company.
And—in at least half of these cases—the reason the company records need updating is because the owners initially formed t ..read more
Barna, Guzy & Steffen Blog
4M ago
A spiteful ex-spouse burned down the decedent’s homestead immediately after death upon learning the property title passed to the decedent’s daughter as the surviving transfer on death beneficiary. The insurance company refused to cover the loss, asserting the daughter did not have an insurable interest!
Thankfully, this prompted our legislators to pass a new law effective August 1, 2024, which provides some limited post-death insurance coverage to transfer on death beneficiaries. BUT, it will require you to act.
The new law provides that, upon notice, your property insurance company must ..read more