As a member of a Minnesota Limited Liability Company (LLC), you may encounter circumstances in which the LLC has suffered harm—perhaps due to the actions of another member, a manager, or a third party—yet the LLC itself declines to address the issue. In these situations, you may have the right...
Pitfalls for Minority Shareholders
Becoming a minority owner of an LLC or corporation (an owner of less than 50% of the business) is obviously a declaration of faith in the majority owner’s business savvy. It is also a declaration of faith in the majority owner’s good will, because control of a majority interest gives...