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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Registering Your New York Nonprofit For Fundraising Purpopses

If your New York nonprofit is fundraising in New York, then you may likely need to register with the New York Attorney General’s office. Before soliciting contributions from individuals, foundations, corporations or government agencies within New York, a New York nonprofit must register with the NY Attorney General’s General Charities

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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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Starting a New York Restaurant? New York Restaurant Law

Starting a restaurant in New York involves significant consideration of New York state and local health and safety regulations.  Because restaurants and eateries are all about serving food, New York subjects restaurants to significant regulations regarding food health and safety. The New York State Department of Health has many regulations

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Factors to Consider When Forming a Corporation in New York

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

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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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U.S. Patents for New York businesses

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

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Foreign Nationals Can Work for Their Businesses in New York

If you are a foreign national living in New York, it is not impossible for you to start a business. Starting a business, in New York, does not, in most case, even require residing in New York or even having the legal ability to reside in New York. If you are

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New York Non-Compete & Confidentiality Agreements

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.

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Buying a Business in New York

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

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New York Reverse Mergers Basics

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.

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Starting a Home-Based Food Business in New York

If you are looking to create a home-based food business in New York, then you should become familiar with what you can and cannot make, as well as other rules and regulations that exist. Before you even think about launching your home-based food business, check with your city or town

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New York Commercial Lease Basics: Negotiate a Good Guy Clause For Your New York Start-Up

New York start-up businesses can negotiate a Good Guy Clause into their NY commercial leases to gain flexibility in terminating leases should things go upside down. A New York Good Guy Clause is commonly used in New York City as a personal guaranty within a commercial lease.  In exchange for

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The Most Common Ways NY Small Businesses Land In Court & Ways To Avoid The Court Room

Everyday, New York small businesses are served with lawsuits that could have been avoided had they implemented some simple practices that help avoid the court room. On average, a business with revenues of $1 million per year will spend about 2%, or about $20,000, per year in legal fees. That

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COBRA Basics for New York Businesses

To conclude our series on federal laws that every small business owner must know, we discuss an employer’s obligation to provide health insurance under New York law.(For other stories in this series, you can read our posts about best practices to avoid age discrimination, New York’s new laws involving family and medical

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Filing a DBA Name In New York

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

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Proven Negotiation Tactics For New York Small Businesses

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

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New York City May Require High Salt Warnings in Franchised/Chain Restaurants

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

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NY Franchising Red Flags

If you are thinking about entering into a franchise agreement in New York, please consider these New York Franchise Warning Signs.  All of the laws in New York that are intended to protect potential investors in franchises are not meant to act as a substitute for good business sense, so be

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IRS 501(c)(3) Organizations vs. IRS 501(c)(4) Organizations: New York Non-Profit Law Basics

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

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