How to take care of your LLC publication Setting up a limited liability company in New York requires you to jump through one additional hoop: Publication of a notice of the LLC formation in two newspapers (See Section 206 of the Limited Liability Company Law for exact legal requirements). Unfortunately, this adds up to $1300 … Read More
Easy Money or Debt Trap? Merchant Cash Advances are often the small business owner’s last resort for cashflow. When an SBA loan or any other business loan is out of reach, Merchant Cash Advance businesses are eager to give the business owner money. It only takes a couple of days, minimal paperwork, and the money … Read More
What is a Deposition? One of the more significant events to occur during a litigation is the deposition (governed under CPLR Article 31). The lawyers have the right to question a witness for the other party, under oath, before a court reporter, with no judge present, as part of the “discovery” phase of a law … Read More
If there is one agreement that every independent contractor will encounter in this gig economy, it is the service agreement. If you are not selling or buying widgets, you are most likely providing services. Either you will have an agreement to present to your clients, or your clients will present you with their agreement, which … Read More
Guess what, it really matters to have a great attorney when you are selling your business. Let me explain. I wrote before about my involvement in typical buying/selling business transactions; it’s an old post, but it has not changed, see “Buying a New York Business”. As you can see from that post, the legal documentation … Read More
An operating agreement is the document that sets forth the rights and obligations of the members of a Limited Liability Company. Section 417 of the New York Limited Liability Company Law provides that “the members of a limited liability company shall adopt a written operating agreement that contains any provisions not inconsistent with law or … Read More
You are fuming right now about what your business partner is doing to you and/or the business and you are wondering if you should sue your business partner. Before pulling the trigger, understand what lies ahead: Is there a way to negotiate yourself out of this? Going to court should always be the last resort. … Read More
