One good Reason for a Shareholders Agreement……..

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....keeping control by restricting the transfer of shares. You, your best friend Jane and Jane's cousin opened a store and online business selling luxury pet supplies under various brand names.  You run the business through a New York corporation. …

Dissolving a Mistake LLC

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Let's say you formed an LLC, because all of your business friends did, but then it turns out it is really not the right form of business entity for you and your fellow founders.  You haven't started doing business with the LLC, the LLC…

Naming your Business – Legal Issues to Consider

Good post by Small Business 2.0 on the creative side of choosing a business name: 18 Pithy Insights into Naming your small Business. Here are a few points on the legal aspects of choosing a name for your New York business. First it is helpful…

Taking Care of the LLC Publication Requirement

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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). …

Orchestrating an effective Adviser Team

At a great networking event sponsored by the National Association of Women Business Owners, I talked to a buy-sell insurance specialist.  This woman sets up businesses with insurance to protect them from the event that a business owner…

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…

Spotlight on Buy-Sell Agreements

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Buy-sell agreements are like prenuptial agreements for people in business together; Buy-sell agreements set forth what is going to happen when things go wrong and business partners want to, or have to, separate.  As with prenuptial agreements,…