Business Law

A limited liability company, also called an LLC, is a business structure that combines the advantages of a partnership with the liability protection of a corporation. An LLC can have one or more owners, who are called members. Members of an LLC can be individuals or businesses, and there isn’t a limit to the number of members an LLC can have. Like all business types, LLCs offer both advantages and disadvantages. Below is an overview of the pros and cons of LLCs.

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When drafting a New York business agreement, it’s imperative that you do so with the assistance of an experienced New York business law attorney. Otherwise, you run the risk of making mistakes that can cause headaches for years to come. Luckily, most New York business agreement mistakes are easily avoidable—you just need to know what to look out for.

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Selling a business requires careful preparation and specific knowledge. Sellers who approach the sales process haphazardly often pay dearly for their carelessness. Prepared sellers, on the other hand, are often handsomely rewarded for their diligence. If you want to successfully sell your business in New York, it’s imperative that you avoid the following common mistakes.

Setting a price too early.

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Before starting a business in New York, it’s important to have a basic understanding of the most common New York business entities. New York offers several options in this area. However, deciding which one to choose can be complicated. Therefore, if you own a business or plan on starting a business in New York, please review the information below. For additional information on New York business entities, please contact a

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Buying a business is a major undertaking that involves a number of considerations. It’s success or failure may not only affect you and your investors, partners, customers or clients, but often for your family members as well. This is especially true if you have younger siblings or children who may eventually inherit the company. In view of this, you should pay attention to the following tips:

Tip #1: Invest Time in the Search -- You’ll Be Glad You Did

The first thing to remember when seeking to buy a business is that the process is likely to be a good deal more time-consuming and intensive than you imagined. Realistically, finding a company that will suit your needs and desires may take a year or more.

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If
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Whether you are a business owner or a consumer, there are some simple steps you can take to avoid litigation.  First, regardless of who you are, when dealing with other businesses, customers, or providers of service, one should always investigate the person/company with whom you are dealing.  It is certainly easy enough to google a person or entity to see if they have favorable or unfavorable reviews.  With contractors and other businesses, one can contact the local department of consumer affairs or better business bureau to see if there are complaints lodged against them.

After you have done some investigation and are comfortable that the person or entity with whom you are dealing, the next step is to make sure that every single agreement you have with that person or entity is in writing.

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Business owners, especially those first starting out, are certainly capable of reviewing leases provided by a prospective landlord.  They usually feel that there is no point in having an attorney review the lease and attempt to negotiate the terms, believing that the landlord will not be amenable to changes.  That is definitely not true.  Most landlords are willing to be flexible in their lease terms, especially with respect to legal issues.  Hiring an attorney for this purpose will, of course, incur an expense but quite often the financial savings obtained from a negotiated lease exceed the legal fee paid.
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It is quite common for someone starting a business venture, to do so with a partner, who will be sharing the responsibilities and obligations.  Other times, one will start a business and then decide at a later point that having a partner would be desirable.  Either way, it is imperative at the outset that the parties sit down, discuss, and put into writing what their expectations are of each other, in terms of the work each will perform, what the compensation will be, etc.  Equally important is what happens when one party is not fulfilling their role or wishes to leave the business.  How will the business be valued and what will the means for a pay-out be.

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Embarking on a new business enterprise is indeed exciting.  While it is tempting to move quickly to build the business, it is imperative that the owner/operator  take care of certain details early on.  Doing so will help to ensure eventual success.  

After initially setting up the corporation or limited liability company, it is important to turn one’s attention to the contract issues which typically confront businesses.  Perhaps the first one which needs to be tackled is the commercial/office lease.
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As a great many New Yorkers have noticed, Florida is not just a lovely location for retirement, but provides pleasant, easy living for young people seeking a place to settle and middle-aged individuals looking to relocate. With its well-deserved reputation as “The Sunshine State,” Florida not only has a warm climate, but is much less crowded than New York and moves at a slower, more relaxed pace. What not everyone knows is that Florida is also a wonderful place to start a small business. If you are a New Yorker considering opening a business in Florida, it is essential to consult with a
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