Many Twin Cities companies protect their rights to unique products, technologies, and services by registering trademarks, filing patents and obtaining copyrights. Companies also may ask their employees to sign non-compete agreements in order to protect a business from being undermined by competitors. In some cases, even when a company has all of the proper copyright and trade secret protections in place, a competitor may still find a way to illegally slant the playing field.
If you withhold any portion of a security deposit, Minnesota law requires that you send a written statement to your tenants within twenty-one days after move-out. Minn. Stat. § 504B.178, subd. 3(a). This statement, known as a 21-day letter, must explain the reason for withholding some or all of the security deposit.