Executing a Power of Attorney in New York?

Power of attorneys are necessary, in many cases, for individuals or businesses wishing to conduct business via a third party. Under § 5-1501 of New York General Obligations Law, a Power of Attorney is “a written document, other than a document referred to in section 5-1501C, by which a principal

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Selling Goods and Services to the NY Government: NY Procurement Law Basics

Opportunities abound for creative and street-smart business to sell services, goods, commodities and technology to NY agencies and municipalities. While, the myriad of laws and regulations seem overwhelming, with a local business-savvy street-smart guide, doing business with the New York State, New York City and other municipalities can be rewarding

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Raising Venture Capital for your Startup or Small Business

Even during a pandemic, the appeal of being your own boss or an entrepreneur never loses its luster. The United States, Asia and other markets have proven to be exciting and happy hunting grounds for companies to explore new funding opportunities, and the COVID-19 shutdown has presented plenty of opportunities

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Eviction Moratorium on Commercial & Residential Rents set to continue in New York until 2021

The Big Apple continues to present new opportunities to both new entrepreneurs entering the market and the established players who continue to call New York City home. No one is denying that we are all doing it tough. Commercial tenants have been put through the wringer with mandatory enforced business

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Invalidation of Prenuptial Agreements in New York Leads to Equitable Division of Marital Property

In our previous article, we tackled the importance of engaging the service of an experienced New York lawyer in the drafting and execution of the prenuptial agreement. A prenuptial agreement may be a agreement that will not, only, save you money, but can also save your business. In this prior

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Free Initial Consultation with a New York Lawyer

Hayes & Simon, an international law firm, is offering a free initial consultation with an attorney in New York. Your legal consultation may be schedule at: Schedule a Call. The call shall be with, in most cases, New York Lawyer Sean Hayes. Hayes & Simon, P.C. Hayes & Simon professionals are internationally

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International Distribution Agreements: Selling your Products, Systems & Services Abroad via Distributors, Agents & Franchisees

Our attorneys at Hayes & Simon see too many international distribution agreements, agent agreements and franchise agreements that are mere spun U.S. or European distribution agreements. These agreements are utilized for matters concerning the distribution of a products, systems or services abroad and should be based, in most cases, based

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Starting Business in New York via a Joint Venture or Partnership Agreement?

Starting a business in New York can be enjoyable and profitable adventure if you get the business on the right track from the start.  Often, companies choose to come together via a joint venture or partnership. With the present coronavirus shutdowns in New York, quality of life issues and New

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Restrictive Covenants in New York Franchise Agreements: Strategic Use of Restrictive Covenants by Franchisors

New York franchise agreements typically contain restrictive covenants against competition and/or a franchisee non-compete clause. Such provisions are meant to prevent franchisees, whom are granted rights by the franchisor to operate a business modeled on the Franchise Program from engaging in business activities in competition with the franchisor during or

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Termination of New York Commercial Leases based on Violation of New York Law

New York landlords may terminate a commercial lease agreement based on a tenant utilizing a leased premise for a violation of New York or U.S. Federal Law.  A recent NY court holding leads credence to the understanding that even a single violation of law related directly to the illegal use

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Buying or Selling A Business in New York? Do Your “Due Diligence”

Before buying or selling a New Yorkbusiness, make sure you understand how to perform a “due diligence” for the business. This is essential for all businesses whether you are the buyer or a seller. A good motivated seller of a business will, usually, receive a better deal if pre-due diligence

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New York Non-Compete Agreements

The validity of a non-compete agreement in New York is measured in light of relevant principles and the particular facts and circumstances surrounding your business. Non-compete clauses are commonly found in employment agreements across many industries regardless of size or products / services offered. Non-compete agreements impose restrictions on future

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Frustration of Purpose as a Tool to Avoid Contracts in New York: The BREXIT Fallout

We have clients that are supplying products to UK companies and UK companies that are being supplied products by U.S. companies. With the surprising outcome of the Brexit vote, the purpose of these agreements are now frustrated because, often, these products are used in finished products assembled in EU nations.

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Validity and Enforceability of Electronic Signatures in New York

Federal law governs, in most cases in New York, when the use of an electronic signature is valid and enforceable.  The U.S. Electronic Signatures in Global and National Commerce Act (also called ESIGN Act) defines an electronic signature as “an electronic sound, symbol, or process attached to or logically associated

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When Must Your NY Business Agreements Be In Writing?

While it is always advisable to put all your New York business agreements in writing, there are special rules that govern whether a particular contract must be in writing.  The following is the basics of the New York’s Statute of Frauds Sales of goods Like most states, sales transactions are

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Private Placement Memos Get Start-Ups Moving

Recently, I wrote about the two tools available to small businesses to stir interest and investment – the business plan and the private placement memorandum.  Let’s focus on the private placement memorandum. A Private Placement Memorandum (or PPM for short) is a legal document that organized businesses provide to prospective

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Every New York Business Owner Needs A Will

No one ever wants to think about it, but sooner or later we all meet our maker and before meeting your maker – have a will drafted that complies with New York law and your wishes. Small business owners especially need a will, as their businesses can suffer based on

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Terminating A Franchise Agreement In New York: NY Franchise Law Basics

The termination or cancellation of a New York franchise relationship requires planning, a thorough understanding of your particular New York franchise agreement and procedural formalities.  Typically, it is advisable to consult with your franchise lawyer. New York Franchise Terminations (Franchisee Considerations) For example, preparation should begin before signing a franchise agreement

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Enforcement of Liquidated Damages Clauses in NY?

When NY businesses contract with others, and those contracts include a clause for liquidated damages, be careful that your New York liquidated damage clause is enforceable in New York and not a mere penalty, or you may have negotiated your way into a New York court. In New York, parties

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Successor Liability Pitfalls in New York

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

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