Wanting to start a business and being ready to start one are two different milestones. If opening a business is something you plan to do, there are certain things you need to have in place before you actually get your business up and running. Choose business structure...
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Business Law
Finding opportunity amid struggle
There is no one size fits all business model. And, as recent history has shown us, there is also no permanent business model. Circumstances, technology and the world are always changing, which means that businesses will need to adapt to survive. From social distancing...
Tips to keep nepotism from disrupting business operations
Working with your family members may be something you want to do or feel an obligation to do if you own a business. While there are certainly perks to hiring people you already know and trust, issues can arise if you move from employing family to favoring them....
Reviewing operation agreements amid a major business shift
Even if you are a new business owner, you are likely aware that operating a business today can look quite different from a couple of years ago. And as such, now could be a good time to review your operation agreements - particularly if your LLC is undergoing a...
Protecting your business by avoiding partner disputes
Business partnerships are close relationships and as such, the occasional upset is inevitable. Many creative business ideas have failed due to partner disputes. When arguments between business partners escalate, the future of the entire venture is at risk. Understand...
How could licensing issues devastate a business owner’s plans?
Securing operating licenses can seem like little more than a formality for parties ready to start a business. However, a single piece of paper could ultimately prevent a business from opening its doors. For instance, if you want to open a bar, restaurant, club or...
When should a business apply for an EIN?
Every business has a different origin story. Some entrepreneurs enjoy the thrill of building something out of nothing. Sometimes an inventor has the idea of a lifetime. Often, a side project at home blossoms into something bigger. Whatever the inspiration or goal may...
Questions to ask when a business makes its first hire
The old business adage of “location, location, location” is certainly important. But location is only part of a successful business. Timing is vital, whether that means getting a head start against potential competition or striking while the iron is hot with a timely...
Are your kids ready (and willing) to take over the business?
If you are like many New York business owners, your hope for your business is to one day pass it on to your kids. Business owners planning to do this can take steps to make this transition go more smoothly for all parties involved. Talk to your kids One of the most...
What does a ‘force majeure’ clause in a contract do?
“Force majeure” has been coming up a great deal during the pandemic. Even as the crisis seems to be waning, supply chain disruptions have made it difficult or impossible to meet some contractual obligations. Some contracts contain a “force majeure” clause that could...
