If you have decided to start your own business, one of the first decisions you need to make is how you want to structure your entity. There are advantages and disadvantages to both limited liability corporations (LLCs) and S corporations. These advantages and disadvantages make the decision a ... Read More >
Jun 12
What To Review When Buying A Small Business In New York
Purchasing an established small business is a great way to be a business owner while minimizing some of the risk associated with a start up. A business with an established product, client base, and brand name will allow you to jump right into operations; no need to create the product or find the ... Read More >
Jun 6
The Importance of the Operating Agreement
The operating agreement may just be the most important document your new small business has. Not only is an operating agreement required by New York law, it is crucial for defining the rules of management and the rights of the members. A well written, well thought out operating agreement can foresee ... Read More >
Jun 1
The Need for a Partnership Agreement
What is a partnership? A partnership is a business that is neither a corporation, nor an LLC. However, it is owned by two or more people. You do not necessarily have to create a written partnership agreement. If you do not have a written agreement, the partnership will begin as soon as the ... Read More >
May 15
How Much Is My Small Business Worth?
How much is my small business worth? The answer depends on many factors, including the valuation method and the purpose of the valuation. There are several ways to determine business value. The simplest is balancing assets against liabilities. Projected future sales is another. No matter the method, ... Read More >
May 8
Can I Deduct the Cost of Buying a Small Business?
More now than ever, when buying a small business, your expense is a necessary investment. You may be asking can I deduct the cost of buying a small business. People have stopped relying on their 9-to-5 jobs for providing for all their needs, let alone the costs of college and retirement. While you ... Read More >
Jun 17
Maintaining Liability Protections of an LLC or Corporation – Small Business Lawyer
Maintaining Liability Protections of an LLC or Corporation One of the primary advantages of registering a business as an LLC or corporation is liability protection in the form of safeguarding a business owner’s personal assets from being reached by a business creditor or in the case of legal ... Read More >
May 18
Brooklyn Business Lawyer: Employee vs. Independent Contractor
Brooklyn Business Lawyer: Employee vs. Independent Contractor Classification of a worker as either an employee or an independent contractor can be critical, and misclassification can have serious consequences. Improperly classified workers are often denied access to benefits and protections, such ... Read More >
May 6
When Must a Business Pay Interns? – New York Business Lawyer
New York Business Lawyer: When Must a Business Pay Interns? Hiring interns may seem like a brilliant way to benefit your small business. By setting up an effective intern program, you can spot talent, get fresh perspectives, and save money on recruitment costs. The interns also benefit by gaining ... Read More >
Apr 19
Brooklyn Startup Lawyer: Protecting Your Brand
Brooklyn Startup Lawyer: Protecting Your Brand Establishing a strong brand is pivotal to the success of your new business. Although selecting and registering your trademark with the U.S. Patent and Trademark Office is an important first step, you should consider taking additional steps to protect ... Read More >