This is intended to help outline the general process of buying a business, explaining the legal aspects of how a business lawyer can assist in a business purchase transaction (it is not intended to be construed as legal advice for your particular situation). Basically, in these 2 videos, I try to help you identify what…
Negotiating the Terms of Buying a Business Part 1
This is intended to help outline the general process of buying a business, explaining the legal aspects of how a business lawyer can assist in a business purchase transaction (it is not intended to be construed as legal advice for your particular situation). Basically, in these 2 videos, I try to help you identify what…
6-Step Business Startup Checklist
As a New York corporate attorney and tech startup lawyer, I am frequently asked for a checklist of items to consider when starting a business. Here is a checklist of my 6 steps to starting a business outlining some of the things that need to get done in starting or buying a large or small…
Buying a Small Business, Company or LLC in New York
Your business acquisition attorney is not only your legal expert, but also will facilitate the business purchase process. Your business lawyer will coordinate the processes, interface with all the players, and move the business transaction along, culminating in a successful closing. As your legal expert, your business lawyer will conduct the legal due diligence, negotiate, draft and review the necessary legal documents…
What are my Employer Obligations for Employees in New York?
First you should “Determine Whether Your New York Business has Employees or Independent Contractors” by reading that post or consulting with a corporate attorney. If your New York business hires employees, then the following would apply. Workers’ Compensation. The New York State Workers’ Compensation Law (“NYWCL”) requires qualifying businesses must obtain workers’ compensation insurance before…
How to Conduct Due Diligence for a Merger or Purchase of a Business or LLC
Regardless of whether you are buying a business as an asset purchase, a division purchase, a company stock purchase, or a corporate merger, you (and/or your corporate attorney) must conduct due diligence on the target company or corporate division. Due diligence involves an in-depth investigation of the business. It requires review of a lot of…
Negotiating the Terms of the Deal — Buying or Selling an LLC or Small Business In New York
After you have found your target New York business to acquire, you (and/or your corporate attorney) have to negotiate the terms of the business purchase transaction. In this article I will outline some of the typical terms of a term sheet for the purchase of a small business and some of the things you need…
How Do I Determine Whether my New York Business has Employees or Independent Contractors?
It is critical that you, the business owner, perhaps with the help of your corporate attorney, correctly determine whether the individuals providing services are employees or independent contractors. For the most part, the employer must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an…
Your Company Should Have a Nondisclosure Agreement (Confidentiality Agreement) with its Employees
A Non-Disclosure Agreement (also known as an NDA or confidentiality agreement) is meant to protect a startup or existing business from its employees misusing valuable proprietary information. Often it is a good idea to have a confidentiality agreement in place with each of your employees (regardless of position). For instance, your receptionist and salesperson might…
Do You Need an Operating Agreement for Your Small Business LLC? Here is my LLC Operating Agreement Checklist.
As you may know, a “corporate kit” includes a pre-made form of limited liability company operating agreement. There is no telling how complete these are and whether or not they were prepared by a corporate attorney. Certainly an off-the-shelf operating agreement is not customized for your needs. I recommend having a New York Small Business…
