Minnesota Ranks in the Top 10 States for Business

Minnesota ranks seventh in the fifth annual study of America’s top states for business. The study ranks the fifty states by evaluating ten key categories of competitiveness.

The categories include:

1. Cost of doing business
2. Workforce
3. Quality of life
4. Infrastructure & Transportation
5. Economy
6. Education
7. Technology & Innovation
8. Business Friendliness
9. Access to Capital
10. Cost of Living

A state that ranks high in the ten categories demonstrates high potential for both large and small businesses. At number seven on the list, Minnesota offers several key aspects for business success.  When starting a business, the ten categories listed above are also good factors for a business owner to consider. An attorney can answer important questions about business formation, management, and development.

For further information concerning the evaluation of the fifty states under the ten categories, read the full article at:

http://finance.yahoo.com/career-work/article/113031/americas-top-states-business-cnbc-2011

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Future of Domain Names

The way the internet domain names work is controlled by ICANN (Internet Corporation for Assigned Names and Numbers). There are currently only a select amount of site suffixes. This limited amount causes congestion when a company seeks to set up a domain name. ICANN has recently voted to open up the naming system. Similar to real estate, the new “virtual land” will come at a price. The price will be high and limit the availability to companies that have the funds to set up such a domain name.

To see what is in store for domain names in the future, take a look at this article from the Star Tribune: http://www.startribune.com/business/124227093.html

Although the price tag is high on specialized domain names, every company should consider setting up a general domain name. The internet has become an increasingly popular way to conduct business. For questions on setting up a domain name, consult an attorney to get started.

Commercial Lease Negotiation

Big and small businesses alike have felt the effects of the economy in recent years.  Landlords are having a hard time keeping existing tenants and attracting new ones to fill commercial space.  Although business is not the same as it was ten years ago, Calhoun Square has remodeled their space and is searching out ways to bring life back to the area.

In the search to find new tenants, the owner of a commercial space has to keep in mind the type of business that would be most beneficial to attract customers to the area and create an experience that will make the customer want to come back time after time. However, the owner will also want a tenant that is pleasant to work with and that will not be a burden. An owner can gain insight into what the relationship will be like in the future by working with the tenant in the negotiation of the lease. In addition, clarity in a lease is the key to establishing a solid foundation between the parties. The parties should consult an attorney to draft a lease that is free of ambiguities.

When leasing to a new tenant or working out a lease extension with an existing tenant, it is important to remember that a lease is always negotiable. Both parties should consult an attorney that has experience in drafting and negotiating commercial leases when negotiating a lease or a lease extension.  Consulting an attorney in the negotiation process will avoid potential issues in the future.

To read more on Calhoun Square and the plans in the works for the space, follow the link to an article from the Star Tribune below.

http://www.startribune.com/business/121810954.html