It is a general rule in New York, as well as most other jurisdictions, that a corporation that purchases the assets (as opposed to the stock) of another corporation does not become liable for the seller’s liabilities or contract obligations. Of course, many unscrupulous businesses view this rule as a means to escape their financial…
Read MoreMost small businesses with more than a single owner typically opt to conduct their business as a corporation or as a limited liability company. When these businesses are properly established, the owners will enter into a shareholder’s agreement or a well-drafted operating agreement that provides a mechanism for the sale of a minority owner’s interest…
Read MoreOne of the challenges facing the small business is finding the right lawyer. Unlike larger businesses, which may have one or more attorneys in their organization, or a general counsel charged with responsibility for all of the company’s legal matters, for the small business, the task of finding and hiring the right attorney can be…
Read MoreIf you are a successful small business, part of your success may be due to your use of proprietary techniques, processes or information your competitors do not have. Protecting this information is vital to maintaining your competitive edge and ensuring your continued success. Yet every day, employees, contractors or consultants attempt to take a business’s…
Read MoreOne of my colleagues, corporate attorney Stephen Furnari, hates it when his clients refuse to pay his bills. I mean really, really hates it. In one of his blogs, Steve examined some of the reasons lawyers give for their failure to pursue collection from clients more aggressively and found those reasons to be lacking. In this…
Read MoreFor many small businesses, establishing a strong brand identity constitutes a considerable investment. Whether your business offers products or services, you want your customers to be able to easily distinguish your business from your competition. Part of that brand may be a catchy name, phrase, logo or design that you want your customers to identify…
Read MoreMost employers have a basic understanding of the differences between independent contractors and employees. Most fundamentally, you pay wages to employees and must withhold taxes and Social Security, pay unemployment taxes, pay worker’s compensation insurance premiums and provide various benefits.
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