This article provides some general guidelines as to when a business or an individual can get out of a contract. After the most basic piece of advice for terminating a contract (read the contract and see what it says on the subject), the article...
This article serves as a supplement to other article exhorting you to protect the corporate form by observing corporate formalities. The purpose of this article is to explain to New York LLC members and managers their record keeping...
When you are in a business venture with other owners (whether formed as an LLC, corporation, or partnership), what courses of action are available to you should the owners begin to fight about the most basic decisions? This article explores the...
This article serves as a detailed primer about LLC operating agreements, with a focus on such agreements in New York state. The article explains what an operating agreement is, why your LLC should have one, management provisions in the LLC...
Should you incorporate as an S corporation or as an LLC? To arrive at the best answer to this question, you should consider a number of factors. This article aims to assist you with this decision by providing key details which...
Hiring employees for your small business presents a host of new legal challenges; this article aims to provide some guidance through these challenges by providing a checklist of the big issues which can raise legal issues for your business in this...
This article details two measures your small business can take to make it easier to collect on outstanding invoices. The first such measure is to be careful at the time of billing to enter into a detailed written agreement with your customer;...
As this article observes, there may come a time (such as a dispute with your business partners) when you have to demonstrate how much of your corporation you own. At such a time, someone else may be offering competing evidence aimed at...
When can one party to a contract limit its liability to one of its counterparties? This article reviews the legal rules in New York surrounding this question, and then examines a recent case and series of appeals involving a contract containing...
Often times, investors in a small business are a tightly-knit group. However, as a minority investor in a small business, the closeness of the majority can make your investment subject to strategic behavior. This article provides some...
If you want to form a New York limited liability company (LLC) on a budget, this article sets forth four steps you can do without an attorney's help to create such an LLC. The article notes, however, that multi-member LLCs present greater...
One of the main advantages to incorporating a business is that it prevents the business owner(s) from being forced to assume personal liability for the debts of the business. However, incorporation is not a panacea for unlimited personal...