Business Law

Friday, May 29, 2020

Tips for Buying a Failing Business

What factors should I consider when looking to purchase a business that is failing?

In the wake of the coronavirus pandemic, many businesses are struggling. Restaurants and retail stores have been particularly hurt by the business closures in effect in many states. As some sectors of the economy start to reopen, many businesses may find themselves without the capital and resources to make a come back. For savvy investors, now might be the ideal time to identify a failing business that could be turned around. However, there are considerable risks to buying a struggling business and investors must take care to research their options thoroughly.
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Friday, December 21, 2018

NYC Employers Have New Requirements for Lactation Rooms

Do all New York City employers need to offer a lactation room to employees?

With ever-shifting laws, it is critical that New York City employers stay abreast of new legal developments.  Recently, New York City adopted two new laws pertaining to lactation rooms for employees. These laws will go into effect on March 18, 2019, and employers should start preparing now to implement the new laws.  Our Read more . . .

Friday, March 23, 2018

Dissolving Your Business

What paperwork do I need to file to dissolve my business?

Closing your business is not as simple as just shutting the doors.  If you have decided to close your small business, you will need to take steps to ensure it is dissolved in the correct legal manner.  Failure to properly dissolve the business could result in ongoing tax liabilities and potential litigation by outstanding creditors.

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Monday, February 26, 2018

Resolving Your Business Dispute with Mediation

Is mediation or arbitration a better method to resolve my business dispute?

Conflict is a given in the business world. Business owners can take steps to avoid disputes by creating solid contracts and partnership agreements, but eventually, nearly all business owners will run into some type of dispute. Common disputes involve business partners and business vendors. When a dispute arises, business owners will usually first attempt to resolve the issue without judicial intervention. Mediation can offer an inexpensive way to reach an agreement that both parties will accept.
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Friday, September 22, 2017

What Every NYC Employee Handbook Should Include

Why is it important to have an employee handbook?

Employee handbooks are not required under New York law, but having a comprehensive employee handbook is essential to the smooth operation of your business.  Employee handbooks define the parameters of your employer-employee relationship.  Laying out the basic rules and guidelines for employment will help to minimize the potential for future employment conflicts.

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Friday, August 18, 2017

Increasing the Enforceability of Your Non-Compete Agreement

What makes a non-compete agreement enforceable?

Non-competition agreements can offer your business vital protections.  A non-competition agreement places restrictions on the ability of employees to work for a competitor after terminating their employment with your company.  As business owners and entrepreneurs, you likely rely on non-compete clauses to ensure key employees do not join forces with competitors or start their own competing business.  However, you may be surprised to learn that your non-competition agreement may not be enforceable.

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Monday, July 17, 2017

Selling Your Small Business in New York

What steps should I take to prepare for the sale of my business?

Selling your small business can be a complex process.  It will require that you adequately prepare for the sale, select the right method for the transfer of your business, and determine whether it is the right time to sell.  A well prepared and executed sale can bring in tremendous financial rewards. Small business owners should enlist the assistance of an experienced

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Thursday, March 16, 2017

Drafting an Enforceable Non-Compete Agreement in New York

What requirements must a non-compete agreement meet to be enforceable in NYC?

Non-compete agreements can help employers to protect their trade secrets and keep employees from leaving to work for competitors. By signing a non-compete agreement, employees agree not to work for direct competitors or open a competing business for a specified period of time.  While non-compete agreements can prove essential for many New York City employers, they must be carefully drafted to avoid being struck down.  New York courts have been loath to enforce far-reaching non-compete agreements as they can have a detrimental effect on enterprise.  

Creating an Enforceable Non-Compete Agreement

New York City employers seeking to adopt a non-compete agreement should consult with an experienced Read more . . .

Tuesday, February 14, 2017

For Your Own Sake Don’t Do THIS to Your Employees

Dumb, dumb, dumb case from Idaho, reversed by the Ninth Circuit Court of Appeals.  You can find the case here:
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Monday, November 14, 2016

The Importance of Buy Sell Agreements for Entrepreneurs

How can a buy sell agreement protect my small business?

Entrepreneurs must navigate a number of challenges in order to achieve success in the marketplace. Along the way, it's important not to lose sight of the importance of buy sell agreement in protecting the business. The goal is to specify how the ownership interests will be redistributed in the event of a sudden or planned departure by one of the owners.

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