Business Law

Saturday, October 16, 2021

Critical Provisions in a Commercial Contract

               It is always a good idea for the business owner or executive to review one's company's contracts, to make sure they are current and contain important provisions. Of course, whether one is providing products or services, the description of what is being provided is a must, as is the price/fee being charged.  One of the most overlooked provisions in company contracts involves disputes. 

               One of the more important provisions in a commercial contract, whether the contract is with a customer, supplier, distributor, or other, is the jurisdiction/choice of law provision.  What this consists of, simply, is a designation of what state should govern the interpretation of the contract and any disputes.
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Sunday, June 20, 2021

How a Business Can Successfully Deal with Employees

For the business owner, especially small, family-run businesses, relationships with employees need to be handled properly so as to avoid unnecessary litigation and turmoil within the workplace.  As a starter, even with a small business, you should have an employee handbook, which clearly explains the duties and obligations of both employer and employee. Set forth in the handbook should be the company policies regarding holidays, sick days, maternity leave and vacation.  Retirement is also an issue which should be explained in the handbook.  What is expected of an employee can be generally stated in a handbook--i.

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Wednesday, December 23, 2020

LLC Pros and Cons

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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Friday, November 27, 2020

Common New York Business Agreement Mistakes

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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Sunday, October 25, 2020

Mistakes to Avoid When Selling a Business

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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Monday, September 21, 2020

Choosing a New York Business Entity

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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Tuesday, June 30, 2020

Five Tips To Successfully Buying a Business

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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Thursday, December 19, 2019

Simple Steps One Can Take to Take In Order to Avoid Litigation

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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Saturday, November 23, 2019

Why You Should Have an Attorney Review Your Lease

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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Saturday, June 8, 2019

How to Get Along With Your Business Partner

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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