Frequently Asked Questions
Answers to common questions
Straight answers from Fargo attorney Josh Krank about trademarks, LLCs and business law, contracts, real estate, and estate planning in North Dakota and Minnesota. Pick a topic below, or reach out if you don’t see your question.
Working with Krank Law
How we work, what it costs, how to reach us, and what to expect.
Ask us directlyWhat services do you offer?
We provide business, trademark, contract, real estate, and estate planning counsel for clients across North Dakota and Minnesota, including business formation, contract drafting and review, trademark registration, real estate documents, and wills and trusts. We focus on clear communication, efficient solutions, and long-term relationships that support your growth and protect what matters most.
How do I get started?
Getting started is simple. Reach out through our contact page or give us a call, and we’ll walk you through the next steps and answer any questions along the way.
What makes Krank Law different?
We keep things simple and straightforward. Our job is to give you honest, practical advice, not to sell you services or products you don’t need. We take our fiduciary duty seriously, always putting your interests first and explaining your options in clear, plain language so you can make confident decisions.
What’s it like to work with Krank Law?
Collaborative, honest, and straightforward. Attorneys have built a reputation for being unresponsive, overpriced, or hard to trust. We’re not that. We’re here to be a useful, fairly priced resource you can be happy with.
How can I contact Krank Law?
You can reach us anytime through our contact page, by email at josh.krank@kranklaw.com, or by phone at (701) 353-5220. We aim to respond quickly, usually within one business day.
What’s the cost?
We offer both flat-fee and hourly pricing, depending on the type and complexity of the project. It’s hard to say without understanding your situation, so after an initial conversation we’ll give you a transparent quote with no hidden costs. We never charge for an initial consultation.
Am I being overcharged by other firms?
Quite possibly. If you’d like a second opinion, or want to know whether you’re overpaying for legal services, give us a call.
What is a Trademark?
A trademark or service mark is any word, phrase, symbol, design, or combination that identifies the source of certain goods or services. Under U.S. common law, trademark rights begin when the mark is actually used in commerce—not necessarily when it’s registered. The purpose of a trademark is to distinguish one provider’s products or services from another’s.
TM Symbol or R Symbol
Individuals or businesses claiming rights in a mark can use the symbols TM (for goods) or SM (for services) to notify the public of their ownership claim, even if the mark is unregistered. The ® symbol, however, is reserved exclusively for marks that have been officially registered with the U.S. Patent and Trademark Office (USPTO). Misuse of this symbol can lead to penalties.
Trademark Searches
Before using or applying to register a trademark, it’s important to search existing federal, state, and common-law records. A search of the USPTO database can show whether similar marks are already registered, but additional checks should be made for marks in use that might not be federally registered. Since common-law rights belong to the first user in commerce, these searches help avoid costly conflicts.
Types of Trademarks
When applying for a trademark, you’ll choose the type of protection you want based on how your brand appears to consumers.
Word Mark (Standard Character Mark): Protects ONLY the words themselves, regardless of font, color, or style.
- Covers the broadest use of the name or phrase
- Ideal for brand names, slogans, or taglines
- You can use it in any font or format later
Design Mark (Logo/Image Mark): Protects a specific visual appearance of your mark (i.e. logos)
- If there is a visual design in your mark, even if words are present, a design mark is needed
- Protection is limited to the specific design filed
Should I use my mark now?
If your business is up and running and you have your mark, start using it. When filing a trademark application, you’ll need to choose a filing basis that reflects whether your mark is already in use or if you plan to use it soon.
1(a) – Use in Commerce: You’re already using the mark in connection with your goods or services.
- Must submit a specimen showing real-world use
- Common for active businesses or products already launched
1(b) – Intent to Use: You’re not using the mark yet but plan to in the near future.
- No specimen required at filing
- Must file a Statement of Use later to complete registration
- Useful for startups, rebrands, or upcoming product launches
What a Trademark Protects
When you apply for a trademark, you must list the specific goods or services you provide, and these are organized into numbered classes by the USPTO.
- There are 45 total trademark classes: 34 for goods, 11 for services
- You can file in one or multiple classes, depending on what you offer
- Each class requires a separate USPTO fee, and protection only applies to the classes you select
- Choosing the right class (or classes) is critical to ensure full coverage and avoid unnecessary costs
How long does it take to get a trademark?
Trademark applications are not just a simple file and done. They can be an adversarial process with the USPTO. There is also a long line. Typically it takes 9-12 months after filing to get a first response. Most applications will need to overcome at least one initial rejection. In total, expect 1-2 years from start to finish.
Can Krank Law help me with a trademark application?
Absolutely. Give us a call and tell us what you’re looking to trademark. We’ll walk you through the process, the filing fees, and everything to expect.
What type of entity should I get?
The right entity depends on your goals, number of owners, growth plans, and tax situation. Many small businesses start with an LLC for flexibility, but it all depends on your situation.
Do I really need an LLC, or can I just operate under my own name?
You can operate under your own name as a sole proprietor, but you and the business are legally the same, so business debts and lawsuits can reach your personal assets. An LLC creates a separate legal entity that can help shield your personal property if run properly.
What should I do after my LLC or corporation is formed (bank account, EIN, minutes, etc.)?
After formation, you should obtain an EIN, open a separate business bank account, adopt an operating agreement or bylaws, and document key decisions in written resolutions or minutes. You also need to track annual report deadlines and any required licenses so the entity stays in good standing.
What is a registered agent, and do I need one?
A registered agent is the person or company designated to receive legal papers and official notices for your business. Most states require every LLC and corporation to have a registered agent with a physical address in that state.
What is an operating agreement or bylaws, and why are they important?
An operating agreement (for an LLC) or bylaws (for a corporation) set the rules for how the business is owned and managed—who makes decisions, how profits are shared, and what happens if someone leaves. Even for single‑owner businesses, these documents help avoid disputes, support liability protection, and are often requested by banks and investors.
What is a contract, and when is it legally binding?
A contract is a legally enforceable agreement between two or more parties. It is usually binding when there is an offer, acceptance, clear terms, and an exchange of value (consideration).
Do contracts have to be in writing to be enforceable?
Many everyday agreements can be verbal and still enforceable, but some types (such as real estate contracts and certain long‑term agreements) must be in writing under the statute of frauds. A written contract also makes it much easier to prove what was agreed.
Can I use online templates for my contracts?
Online templates can be a starting point, but they are not tailored to your state law, situation, or your specific business risks. It is usually wise to have a lawyer customize your key contracts so they actually match how you operate.
What should I look for before signing a contract?
Watch for automatic renewals, one‑sided indemnity or liability clauses, broad non‑compete or non‑solicit language, and harsh default or termination provisions. You should also confirm that the written terms match what you discussed.
Can the parties change a contract after it is signed?
Yes, but changes should be made in a written amendment or addendum signed by all parties. Email exchanges alone may not clearly or cleanly update the original agreement.
What is an estate plan, and why do I need one?
An estate plan is a set of documents that directs what happens to your assets and who can make decisions for you if you become incapacitated or pass away. It helps protect your family, avoid unnecessary court involvement, and carry out your wishes as efficiently as possible.
What are the key documents in a basic estate plan?
Most people start with a will, a financial power of attorney, and health care directives (health care power of attorney and living will). Many also use a revocable living trust to keep assets out of probate and make administration smoother for loved ones.
What is a will, and what does it do?
A will says who receives your property after death and who will serve as personal representative (executor) of your estate. It can also nominate guardians for minor children, but it does not avoid probate by itself.
Why is estate planning especially important for business owners?
For business owners, an estate plan also needs to address who will own and run the company if you retire, become incapacitated, or die. Without a clear plan, your family, co‑owners, and employees can face confusion, disputes, or even the forced sale or closure of the business.
How often should I review or update my estate plan?
Most people should revisit their estate plan every few years, or sooner after major life events like marriage, divorce, a new child, a significant change in assets, or the start or sale of a business. Regular reviews help ensure your plan still reflects your goals and current law.
Do I need a lawyer to buy or sell a home?
Not every residential sale requires an attorney, and many closings are handled by a title company. A lawyer is most helpful when the deal is out of the ordinary: a for-sale-by-owner sale, seller financing, a transfer between family members or out of an estate, or a purchase agreement you want reviewed before you sign.
What should a purchase agreement include?
A solid purchase agreement spells out:
- The parties and the property’s legal description
- The price, earnest money, and how the purchase will be financed
- Inspection, financing, and other contingencies, with deadlines
- What stays with the property and what goes with the seller
- The closing date and who pays which costs
- What happens if either side backs out
What is the difference between a warranty deed and a quitclaim deed?
A warranty deed transfers property with the seller’s promise that the title is good and that they will stand behind it if a claim comes up later. It is the standard choice in a sale to an outside buyer.
A quitclaim deed transfers only whatever interest the person signing it has, with no promises about the title. It is often used between family members, to clear up a title issue, or to move property into an LLC or trust you own.
Should I put my rental property in an LLC?
Holding a rental in an LLC can help keep the property’s liabilities separate from your personal assets. Before transferring, consider your mortgage (many loans have a due-on-sale clause, so check with your lender), your insurance, and how the transfer affects your taxes. The deed and the LLC’s records need to be done correctly for the structure to hold up.
What should a commercial lease cover?
Beyond the rent, a commercial lease should address the length of the term and any renewal options, scheduled rent increases, who pays property taxes, insurance, and maintenance, how the space may be used, who pays for improvements, whether the lease can be assigned or sublet, and what happens if either side defaults.
How does seller financing work?
In seller financing, the seller acts as the lender and the buyer pays the seller over time. It is usually set up either as a promissory note secured by a mortgage, or as a contract for deed, where the seller keeps title until the buyer has paid in full. Each structure gives the parties different rights if payments stop, so the terms should be carefully drafted and put in writing.
Still have a question?
Ask us directly
Initial consultations are free. Tell us what’s going on and we’ll point you in the right direction.
- Phone(701) 353-5220
- Emailjosh.krank@kranklaw.com
- Office300 NP Ave, Suite 108, Fargo, ND 58102
The information on this page is general in nature and is not legal advice. Contacting Krank Law does not create an attorney–client relationship.

