If you are a member of an LLC and are being denied access to company records, we can help you get access by bringing a books and records petition in court under Section 1102 of the New York Limited Liability Company Law. The scenario is often like this: You’ve been happily doing business with your … Read More
LLCs without an Operating Agreement LLC members without an operating agreement may ask themselves, what rules apply to our LLC when we don’t have an operating agreement? Answer: The default rules of the New York LLC Law apply. The default rules are not always your friend, especially if you are a minority member. Unfortunately, many … Read More
Most litigations reach a point, sooner or later, when the parties discuss settlement. When should you discuss settlement in your litigation? There is no precise rule. It could be right after you file the complaint or after the parties have the chance to look at each other’s evidence (discovery). There are some other things to … Read More
Once you’ve made the decision to sue someone (a decision that shouldn’t be made lightly) or worse, you’ve been sued, you may wonder what lies ahead in your typical New York Small Business lawsuit? First the Bottom Line Litigation is expensive. It can interrupt your business. Unless it is arbitration (which this post does not … Read More
What is a New York Limited Liability Company (“LLC”)? Who can form an LLC? How do I form an LLC? How much does it cost to form an LLC? What ongoing requirements are there for maintaining an LLC? How does an LLC pay taxes? Is an LLC a good choice for my new business? Read … Read More
Many small business contracts provide that any dispute arising from the contract must be arbitrated rather than litigated in a state or federal court. Unfortunately, these provisions are often included without a second thought to their practical meaning. Before agreeing to arbitrate your small business dispute know this about arbitration: What is Arbitration? Litigation of … Read More
How can you deal with disagreements between LLC members? Short Answer: you prepare for this scenario in the operating agreement and provide sensible solutions for any disagreement. The long answer: Pick the rights business partners Just like in marriage, it usually does not work out for the long run if you act hastily and pick … Read More
