How to Start a Law Firm in Minnesota

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How to Start a Law Firm in Minnesota by Mind Map: How to Start a Law Firm in Minnesota

1. Business Structure

1.1. File with Secretary of State

1.1.1. Options Corporation / PC LLC / PLLC Limited Partnership

1.1.2. Minnesota Professional Firms Act All firms must make an election

1.1.3. Assumed Name can be filed regardless of entity

1.2. Do not file with Secretary of State

1.2.1. Sole Proprietorship

1.2.2. Partnership

1.3. Considerations

1.3.1. Solo or not?

1.3.2. Taxes

1.3.3. Liability

1.4. Name

1.4.1. Search Secretary of State Business Records

1.4.2. Requirements of MPFA

2. Lawyers Professional Responsibility Board

2.1. For all firms (more than one member and/or filed with Secretary of State); not Sole Proprietors

2.2. First Filing

3. Banking

3.1. Checking Account

3.2. Interest on Lawyers Trust Account (IOLTA)

3.2.1. Approved Banks

3.2.2. Trust Account FAQ

3.2.3. Link to IOTLA accounting guides on practicelaw

4. Insurance

4.1. Professional Liability Insurance

4.2. Business Insurance

5. Other Considerations (all covered in depth elsewhere - see resources)

5.1. Office

5.1.1. Types of Offices Traditional Office Office Share Virtual Office aka Office Presence Home Office

5.1.2. Resources Bench & Bar Classifieds Minnesota Lawyer Classifieds Craigslist

5.2. Connections

5.2.1. Networking MSBA sections County bar associations Specialty bar associations Law school alumni

5.2.2. Marketing Business Cards Announcements Website and/or Blog Link to blogging Jumpstart

5.2.3. Resources Links to blogs on practicelaw

5.2.4. Ethics Rules Link to Roy Ginsburg B&B article

5.3. General Resources

5.3.1. Carolyn Elefant, Solo by Choice

5.3.2. Jay Foonberg,

5.3.3. Minnesota CLE, How to Start Your Own Law Firm

5.4. Emergency Planning (Link to Karen Marty resource on pxlaw)

5.5. Technology

5.5.1. Printer

5.5.2. Scanner

5.5.3. Computer

5.5.4. Phone