Five Steps to Buying a Small Business in New York – Part 1
Buying/Selling a BusinessSee Part 1 here; Part 2 here; Part 3 here; Part 4 here; Part 5 here;
This is the first in a series of five posts working through the process of buying a small business in New York.
This series will focus on the legal aspects of such a transaction…
How to Form a New York Corporation
Starting a BusinessIf you are determined to pay no more than $99 dollars for your business incorporation, why not do it yourself?
Here is how:
STEP 1:
Prepare a “certificate of incorporation”. Download this sample form which is also available…
Going into Business Together: Don’t Rely on a Handshake!
Starting a BusinessGreat – you have found people who share your vision to own and grow a business. But don’t forget that going into business with other people requires you to think ahead and be clear about the relationship. This is your livelihood and future.…
Liability of New York Shareholders for Wages due to Employees
EmployeesIf you thought you were immune to liability as a shareholder of a New York corporation, know this: In New York, the ten largest shareholders, as determined by their shareholding, of every closely held corporation are personally liable…
Who should draft the Agreement?
Business ContractsOnce you know there will be a written agreement, someone has to draft it. Should it be your lawyer or the other party's lawyer?
Some say make your lawyer insist on preparing the first draft. I tend to agree with that. It gives…
Reviewing Agreements 101
Business Contracts1. You’ve heard it before: Get it in writing. No exceptions. All terms should be expressly stated in the agreement, in detail.
2. Make sure the parties to the agreement are properly identified. You can save yourself a lot of…