I am sure we have all experienced that one business deal that was done on a handshake (instead of a written contract), and ultimately became the deal “from hell” that turned into a money pit. Perhaps it was as simple as a customer signing your proposal that might have the innocuous wording of “we strive…
Negotiating the Terms of Buying a Business Part 2
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…
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…
Does a New York LLC or Business Need any Licenses and/or Permits?
Some business activities require licenses or permits from New York state and/or local governments. To find out what licenses and permits may be required in New York, you can visit…
How Do I Form a Limited Liability Company in New York?
Organizers form an LLC in New York by filing the Articles of Organization, pursuant to Section 203 of the New York Limited Liability Company Law, with the Department of State. Organizers prepare, sign and file the Articles of Organization that creates the LLC. Any person or business entity may be an organizer (it does not…
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…
Where can I Find Links to New York Business Laws?
Look here to find links to the New York Limited Liability Company Law, the New York Business Corporation Law, the New York Partnership Act, and the New York General Obligations Law. […]
