FAQ: Choice of Entity

Articles on choice of business entity are a dime a dozen.  Here is one that stands out from the crowd: FAQ on Choice of Entity. (Another big firm resource free for the taking) See also Choosing between an S corporation and an LLC - The…

Foreign LLC doing business in New York must publish in New York – and other Lessons

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Picture this: Amy formed Ace LLC, a Nevada Limited Liability Company, for her New York business.  She thought that LLCs are cheaper to form in Nevada, would incur fewer taxes and save her from complying with New York’s costly LLC newspaper…

Can you incorporate nationally?

One of the FAQ on corporations on the website of New York's Department of State reads: Question: Can I incorporate nationally? Answer: No. There is no mechanism in the United States to incorporate on the federal level. A company interested…

Doing Business in the United States

Small Foreign Businesses considering doing business in the United States are well advised to seek legal counsel in smaller law firms, since large law firms don't really want or need their business.   However, there is no reason why…

International Sales Contracts – Don’t overlook the United Nations Convention on Contracts for the International Sale of Goods

Gone are the times when small businesses had only local dealings.  Many small businesses sell or purchase goods internationally. When drafting an agreement for an international sale of goods, you must be aware of the potential applicability…

Covenant of Good Faith and Fair Dealing no help to Borrowers

As a borrower you may find yourself in a situation where you negotiated and entered into a loan agreement but are still denied a loan advance, because your lender just doesn’t feel like it.  Or at least that is the picture that presents…

Thanks New York Times for Pointing this out

"Step 1 in Starting a Business: Hire a Lawyer."

Crash Course on Raising Money by Beth Polish

Beth Polish, accomplished businesswoman and frequent speaker and commentator on the subject of financing and raising money, offers a free 5-Day Crash E-Course on the subject of raising money through loans or equity investments. The course explores the…

Spotlight on Asset Based Finance Loans

Traditional bank loans are granted to a business based on its creditworthiness as reflected in its financial statements and certain financial ratios. What many small business owners don't know is that, even if financial statements and ratios…

Follow-up to Raising Startup Capital – New York Times Article on the Topic

My post yesterday, "Raising Startup Capital from Investors- Information Resources,"  mentioned that many small businesses are not in the market for traditional venture capital financing.  Coincidentally, the New York Times…