I am all for do-it-yourself legal books and websites. Not because I think that you should actually be your own lawyer, but because I think that an educated client is a good client. He or she will appreciate the value of an attorney, will understand problems and important issues, and will be in a position […]
Against popular belief, attorneys must actually follow certain rules of ethical conduct. In New York, these rules are set forth in 22 New York Codes, Rules and Regulations Part 1200. One set of rules requires attorneys to avoid conflicts of interests among their clients. Attorneys are not allowed to accept or continue representation of a […]
Since I am in the business of memorializing deals for people, my repeated message of "get it in writing" might seem somewhat self-serving. Thankfully, non-lawyers point it out too: Lema Korshid on Mindpetals had a post yesterday entitled "Memorialize that Deal in Writing." She writes: Entrepreneurs, save yourselves from future headaches! Ask your attorney draw […]
If your goal is to limit liability of your business and deduct business losses from your non-business income, your choices for a business entity basically boil down to a New York limited liability company (LLC) or an S corporation (which is a New York corporation that has elected pass-through tax treatment by filing Form 2553 […]
A former employee taking customers from a business after having left the company’s employ is many business owner’s nightmare. Thus, many businesses try to prevent their employees from competing with them during and even after the employment relationship has ended. The solution seems simple: make the employee sign a non compete agreement that prevents him […]
More often than not, a small business operating out of New York is well advised to incorporate in the Empire State. While you could theoretically incorporate in any of the 50 states (including Delaware), incorporating in another state such as Delaware adds additional costs and almost no benefits to the small business corporation. Let’s look […]
You put it in writing, you aced the negotiations, and you are ready to execute the contract. Don’t let down your guard at the last minute! The following points are worth noting when executing a contract in New York. While neglecting to follow the below points may not result in an invalid or unenforceable contract […]
Picture this: Your accountant has access to all of your employees’ records which she keeps on her computer system. One day, against better judgment, she leaves the laptop in her car. The laptop gets stolen. Next thing you know, your employees are victims of identity theft. (Accountants loosing laptops seems to be a common occurrence. […]
I don’t need to tell you that New York lies at the center of the universe. But did you know that you can be a part of it by choosing New York law to govern your business contracts and New York courts to decide upon any conflicts arising from your business contracts, even if the […]
My post on September 14 talked about conflict resolution and the resources available at the American Arbitration Association. In the meantime, I discovered another great resource for domestic and international arbitration issues: Lovell’s International Arbitration Guide. This site offers extensive information about arbitration, even a drafting engine that automatically drafts an arbitration provision for you! […]