New York Businesses With Multiple Owners Should Create A Buy-Sell Agreement

When there is more than one owner of a New York business, creating a buy-sell agreement can save time and money when the eventual change in ownership occurs. New York business owners know that circumstances can change at a moment’s notice. That is why ensuring that your business is prepared for whatever waits around the corner is crucial. Part of being fully prepared is having a buy-sell agreement in place. New York businesses of all forms and sizes with more than one owner should create a solid buy-sell agreement in anticipation of future changes. A buy-sell agreement, also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner chooses to leave the business, is forced to leave the business or passes away. Creating buy-sell agreements come with many advantages. First, the cost of creating a buy-sell agreement is

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Protecting and Capitalizing on your Intellectual Property: IP Law Basics

All businesses, including New York businesses, must take steps to protect their trademarks, brands and other IP. Our international lawyers work throughout Asia and North America and have seen too many issues because of not implementing an IP Protection Strategy, not registering IP, not understanding the domestic value of IP and not considering the global value and differences in foreign law to U.S. law. Here is what we recommend you must do, at a minimum, to secure your IP: Form an IP Audit Team.  Form a team to audit your intellectual property – trademarks, service marks, books, manuals, patents, etc. – to determine what assets you have and what needs to be protected. Your attorney should head, or at least, assist this team. Register your Intellectual Property.  Protect your trademarks by registering them with the USPTO (United States Patent & Trademark Office), which will provide your business, logos, symbols legal

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