Category Archives: Business Owner

How do I Start an Iowa Limited Liability Company?

“The Way to Get Started is to Quit Talking and Begin Doing” – Walt Disney Whether you are looking to start an Iowa corporation (“Inc.”), an Iowa limited liability company (“L.L.C.”), or an Iowa limited liability partnership (“L.L.P.”), starting on … Continue reading

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As an Owner, Am I Liable for the Debts of my Iowa Limited Liability Company?

Member Protections Under Iowa’s LLC Umbrella Just as shareholders in Iowa corporations are, by default, generally not liable for the debts and liabilities of their corporation, members (a.k.a. owners) in Iowa limited liability companies are also generally not liable for … Continue reading

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Business Divorce in Iowa – Can I Kick a Fellow Member Out of My Iowa Business?

Iowa Business Divorce Unfortunately, like some marriages, the exciting and passionate fire that burns between business owners and drives them to come together to do amazing work is replaced by a dull flame, bickering, money problems, and a deep yearning … Continue reading

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Are Shareholders in Small Family Businesses Personally Liable for Business Debts and Liabilities?

Regardless of whether your family business may be considering taking on debt for a much-needed expansion or whether it is facing liability from a lawsuit or other matter, one question frequently arises:  As a shareholder in an Iowa corporation, can … Continue reading

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One Thing you Must Know if Someone Has Interfered With Your Contract

It’s often said that “it’s a cut-throat world,” “life is not fair,” and that in order to survive you must hustle.  While there is certainly truth to these concepts, taking your actions to the extreme, however, and proceeding with reckless … Continue reading

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It’s Not My Signature, I Can’t Be Bound To That Contract! Not So Fast…

On October 18, 2013, the Iowa Supreme Court published its opinion in Life Investors Insurance Company of America vs. Estate of John M. Carrado and Federal City Region, Inc., No. 13-0102 (October 18, 2013) and found that you may be bound … Continue reading

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The Relief You May Seek if You Are Suffering From Shareholder Oppression

So you’re suffering from shareholder oppression and you’re hoping relief is available; what relief may you seek in Iowa?   Shareholder oppression may be difficult to “diagnose” (read more here), but once diagnosed and similar to any other ailment, the … Continue reading

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What you Need to Consider When Selling a Majority Ownership in a Corporation

As discussed in several previous posts (here and here), Iowa law recognizes the existence of fiduciary duties between majority and minority shareholders in Iowa corporations.  See Linge v. Ralston Purina Co., 293 N.W.2d 191, 194 (Iowa 1980); see also Cookies Food Prods., Inc. v. … Continue reading

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Discounts at Wal-Mart, But What About Your Minority Ownership Interest in an Iowa Business?

Will your minority ownership interest in an Iowa business be discounted when determining fair value? As described in detail here, on June 14, 2013, the Iowa Supreme Court issued an opinion that clarifies the definition of minority shareholder oppression in Iowa. … Continue reading

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Shareholder Frustration – Iowa’s Standard for Minority Shareholder Oppression PART II

On June 14, 2013, the Iowa Supreme Court published its opinion in John R. Baur vs. Baur Farms, Inc. and Robert F. Baur, (No. 11-0601) (June 14, 2013).  A very short recap of the facts are as follows:  Baur Inc. was a family farm … Continue reading

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