The New York Law Blog by Hayes & Simon, P.C. | Int'l Law Firm
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If you reside in New York or wish to run a business in New York , it may be convenient to incorporate a business in New York. But before you do so, you should know a major disadvantage of incorporating a business in New York. Business owners tend to desire
New York businesses are not bound to incorporate within the state to operate within New York State. In fact, start-up businesses in New York should consider incorporating outside of New York based on several factors for consideration. Some choose to keep things simple by incorporating or forming an LLC in
When buying or selling a New York business or any of a business’s assets under NY law, potential successor liability of the buyer is of primary concern. New York Successor Liability Law is complex and the following is, only, intended as a brief overview of the matter. Successor liability in
The common types of U.S. patents that are available to innovative New York entrepreneurs seeking to protect their intellectual property falls into three common categories based on the type of invention in question: design, utility and plant patents. Utility patents are chiefly concerned with how an invention functions. A utility patent
Business in New York can be highly competitive, and relies, in part, upon a business’s ability to protect valuable information disclosed to current and past employees. Many NY companies feel that implementing non-compete agreements and other contractual obligations will encourage employee retention overall and protect information should an employee leave.
When buying a business in New York, we recommend a more nuanced approach that contemplates matters beyond a mere cost benefit analysis. Small businesses are the engine of the American economy. According to a 2012 Small Business Administration report, small businesses “produced 46 percent of the private non-farm GDP in 2008 (the
If you are looking to take your New York private business public, consider the benefits and drawbacks of a New York reverse merger. Often executives and owners of successful New York businesses may wish to capitalize on that success by making shares of the business’s stock available to the public.
After a summer of discontent, New York Governor Andrew Cuomo signed the toughest restrictions on short-term apartment rentals in the country that may cripple the operations of Airbnb in the state. As discussed in many previous blog posts here, Airbnb is an online marketplace where prospective guests look for a bed
If you want to conduct business under a trade name that is different from the name used to form your New York business, then you need to file a DBA, or a “doing business as” name, in New York. DBAs are useful for a number of reasons. They allow a
When you are running your own business in New York, you must become a skilled negotiator. New York can be a tough place and many sharks abound. In its simplest form, negotiation means a discussion between parties looking to reach an agreement. While the concept is easy to understand, the
A New York appeals court ruling has cleared the way for New York City to begin enforcement of its rules requiring restaurants to warn of high-salt content. Recently, the First Department of the New York Appellate Court held that New York City can require chain restaurants to post warnings on
We have clients at our law firm in New York operating non-profit businesses in New York that require advice on IRS 501(c)(3) vs. IRS 501(c)(4) organizations. We hope this and a few other articles we have will be useful for the reader. Whether your New York nonprofit should apply for tax
The Jacob Javits Convention Center had a great expo – NY Small Business Expo. Whether your business is in the startup phase or is long-established, the Small Business Expo is a one-day free exhibition that features many exhibitors with a diverse range of resources. The Expo is nation’s largest business-to-business
When two of the largest commercial fantasy sports gaming companies, FanDuel and DraftKings, were sued by the State of New York and subsequently agreed to voluntarily stop taking money from New York participants, the companies did so with the understanding that lawmakers in Albany would pass legislation on the issue
(Editor’s Note – This introductory article is the first in a series of blog posts that will explore how small businesses in New York can look to grow through outside investment. While these articles are instructive in nature, we always urge that you consult an attorney before making any decisions!
If you own a business that was created outside of New York, then you need to register it if you want to do business in New York. For our purposes, a “foreign” business is any business created outside of New York. That also includes businesses created in another state and
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