Nobody in New York or elsewhere likes to think about death. However, if you want your wishes honored after you die, you must create an estate plan. This process can be even more difficult for business owners. In this case, setting up a business trust may be the best...
Business & Commercial Law
The importance of due diligence in an acquisition
Performing due diligence tasks is one of the most important steps prior to combining your business with another New York company. The due diligence process may discover the presence of ongoing lawsuits, regulatory issues or other problems that might hurt your company...
The difference between being laid off and furloughed
Employers in New York and elsewhere can choose to reduce their workforce in an effort to save money or meet other goals. Companies may choose to either furlough their excess staff or lay them off in an effort to cut costs on a temporary or permanent basis. An overview...
What is an LLC operating agreement and do I need one in New York?
Starting a new business in New York can be a busy time in anyone's life. Before opening a business, you typically need ideas, capital and a space to work. Another critical step in this state is creating an operating agreement for your limited liability company. An...
What is a unilateral contract, and is it safe?
Unilateral is a type of business contract that you could draft in New York. The parties entering a unilateral contract don't have to follow through unless one of them begins to complete the requested work. In a bilateral contract, the worker can't change their mind...
What are the different business structures for a company?
In the state of New York, there are several different business structures for entrepreneurs to choose from. Each structure operates differently under the law and produces different outcomes regarding administration, taxation and more. Take your time researching the...
Do you have a partnership or a joint venture?
Although you may refer to working together with another business or professional as a partnership, it may be a joint venture under New York law. For legal purposes, you need to know what type of business activity you're engaging in. Joint venture New York business law...
Understanding new laws: the Trademark Modernization Act
Businesses are in a constant battle to protect their rights, brand, and image. In addition to running a successful business, it is important in many cases to successfully navigate the complex world of business & commercial law. This field of law is constantly...
Considerations for calculating damages in business lawsuits
Business and commercial law protects businesses of all sizes in New York. However, figuring out damages in business lawsuits can be a daunting task. Measuring lost profits A person needs to think about how to measure the damages of an early business during lawsuits....
How to choose a legal structure for your company
Choosing a legal structure for your New York business will be among the most important decisions that you'll make as an entrepreneur. If you plan to run the company on your own, the business will likely be labeled as a sole proprietorship by default. If the company...