Minneapolis Employment Lawyers
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Legal Services Offered by Our On-Demand Minneapolis Employment Attorneys
Our experienced Minneapolis employment attorneys & lawyers can help guide you on how to proceed with various employee decisions such as reviewing employee documents such as contracts, agreements, policies, and handbooks, along with difficult decisions such as firing, lawsuits, claims, and complaints.
Although not every single employment contract will require legal assistance, many employment lawyers would recommend avoiding unilateral employment contracts that strongly benefit one side over the other. These types of employee contracts rarely hold up in court, yet having the funds needed to combat an issue in court can limit the employee’s options.
A confidentiality agreement and a non-compete agreement are common forms of employee contracts that one of our Minneapolis employment attorneys can help customize for your business. If your business needs to fire an employee, proper measures should be taken from a business legal standpoint to ensure proper communication and a smooth transition of dismissing that employee. In any case, we suggest you connect with our employment attorneys to discuss your options.
Improve Your Legal ROI with Affordable Employment Attorneys that service Minneapolis, MN.
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- 8 min read
Phantom Stock: What Is It?
Phantom stock is an employee benefit where selected employees receive benefits of stock ownership without the company giving them actual stock. It is worth money just like real stock, and its value rises and falls with the company's actual stock (or what the company is valued at, if it's not a publicly traded company). Employees are paid out profits at the end of a pre-determined length of time.
Also known as shadow stock, simulated stock, or phantom shares, phantom stock is provided as a bonus for hard work and longevity. One form of phantom stock is Stock Appreciation Rights.
There isn't one exact definition of what phantom stock is or how companies use it. The term can apply to any reward that takes time to mature. Usually, the award is for a specific number of units, or phantom shares, that follow the price of the company's actual shares — going up
With the rise of companies such as Uber and Lyft, the attempt to define the workplace role of the independent contractor is gaining serious traction. How can you be sure whether your next employee should be an independent contractor, and what steps can you take to ensure governmental compliance?
1. Understand What an Independent Contractor Is
To understand what an independent contractor is, think about when you hire plumber. When you need your toilet fixed, you are calling an independent contractor. You don’t tell your plumber what to wear or when you when he can come to work, and you certainly don’t provide vacation benefits or sick time. Independent contractors provide services to you or your business on a project basis. According to the SBA, independent contractors:
- 7 min read
What Is the Average Patent Lawyer Cost?
A patent lawyer can help you with the how to patent an idea process and typically costs around $380 per hour depending on location, type of law firm, and experience in years or technical training.
- Location: Experienced patent attorneys outside major cities are between $275 to $400 per hour while attorneys in major cities are between $400 to $800+ per hour. The most expensive areas are: Boston and New York (averaging +$75 more per hour) and California (averaging +$50 more per hour).
- Type of Law Firm: Solo practitioners cost an average of $321 per hour while private firm partners cost an average of $425 per hour.
For larger companies patenting software or advanced technologies, a patent c
- 11 min read
What Is an Option Pool?
An option pool is a way a startup company can acquire talented employees by offering them stock if the company does well enough to go public. Employees receive percentages of the option pool when they're hired, with the amount changing based on how early the employee joins the company and what their position within the company is.
An option pool is a percentage of a company reserved for employees. New companies create option pools by setting aside common stock shares, and granting these shares to employees as a way to pull new talent into a startup.
Option pools are also called employee stock option pool (ESOP.)
Companies use option pools because:
- They want to offer an incentive other than money when they don't have much capital
- They want to give employees a reason to work hard enough for the company to go public (to make the pool worth something)
Learn More about the Patient Protection and Affordable Care Act
You’ve heard the term over and over throughout the years, but what exactly is the Patient Protection and Affordable Care Act (PPACA)? The Patient Protection and Affordable Care Act was signed into law by President Barack Obama in 2010. It is also referred to as the Affordable Care Act or Obamacare. The Act was implemented to improve the quality of health insurance, regulate the health industry, and provide more Americans with affordable health insurance.
The Patient Protection and Affordable Care A