Author Archives: Matthew McKinney

About Matthew McKinney

Attorney focused on civil and commercial litigation.

Advantages and Disadvantages of Sole Proprietorships in Iowa

A frequent issue that entrepreneurs face – and one they should seriously consider – is whether to create a formal legal entity, such as a limited liability company (L.L.C.), or remain a “sole proprietor.”  This post briefly identifies some of the … Continue reading

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Can I Force My Iowa Corporation to Buy My Stock?

Minority shareholders seeking to exit an Iowa corporation frequently ask, “can I force my closely-held Iowa corporation to purchase my stock.”  A great question, but one that is frequently met with a variety of answers.  On January 21, 2014, the Delaware Supreme Court … Continue reading

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Iowa Legislation Signed into Law in 2014 (so far…)

Our readers frequently inquire about what new legislation Iowa’s legislature is passing and Iowa’s Governor, Terry E. Branstad, is signing into law.  While the 2014 legislative session has not yet adjourned for the year, a list of all legislation signed into law in 2014 is … Continue reading

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Showing Shareholders the Money in Iowa Corporations

Are Iowa corporations required to disclose financial information to shareholders? Iowa law requires Iowa corporations to provide certain financial information to their shareholders.  In particular, Iowa Code Section 490.1620 mandates Iowa corporations to provide their shareholders with “annual financial statements.” … Continue reading

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7 Corporate Records an Iowa Corporation Must Keep

Iowa shareholders who are either seeking to learn more about their corporation or who are investigating potential corporate wrongdoing, often inquire as to what corporate records (i.e. documents) their corporation must keep.  Not surprisingly, reviewing a corporation’s records often provides shareholders … Continue reading

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Pre-Incorporation Liability for Iowa Entrepreneurs and Startups

So you’ve come up with the next “big thing,” and you’re excited, anxious, and busting at the seams to get started.  All natural feelings, but before getting too far down that exciting path, be careful not to put your cart … Continue reading

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A Deeper Dive into a Director’s Duty to Become Informed

As described in a prior post (here), Iowa’s fiduciary duty law requires directors to become informed with respect to their decision-making obligations.  Thankfully, a director’s duty to become informed is fairly straightforward.  As you may suspect, the duty to become … Continue reading

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Care, or Beware! Iowa’s Fiduciary Duty of Care

With Valentine’s Day just around the corner, we think it’s high time to further explore “caring” in the corporate context.  And while we’ve frequently addressed the broad concept of fiduciary duties that Iowa law and Iowa courts impose upon corporate … Continue reading

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Resources for Small Businesses in Iowa

The entrepreneurial experience of starting a new business is thrilling, exciting, scary, and often nerve racking, to name just a few emotions.  And whether you’re thinking about starting a new business in the Des Moines area – ranked Best Place … Continue reading

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Understand Your Burden of Proof Before Exercising the Nuclear Option

Duty of Care v. Duty of Loyalty and the Shifting Burden of Proof Intra-corporate dispute cases frequently involve litigants asserting breach of fiduciary duty claims.  More specifically, they involve plaintiffs alleging the defendant(s) breached his/her duty of care and duty … Continue reading

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