Start-ups in New York looking for investment capital should consider the classification of investors that can and cannot partake in private offerings. Under the Securities and Exchange Commission’s Regulation D, an organization may issue a private offering of stock to raise funds without officially registering to “go public.” We discussed the
Continue readingShould I Purchase a Franchise Or Start My Own Business in New York: Six Factors For Your Consideration
Choosing between franchise or starting your own business in New York is an important choice that can have a major impact on your future. The choice may, ultimately come down to your personality. Weighing the pros and cons of purchasing a franchise against starting a non-franchised business begins with some
Continue readingMaximum Rates Of Interest Allowed On Private Loans In New York: New York Usury Law
Charging interest rates that exceed the state maximum allowed by law is called usury (also commonly referred to as “loansharking”), which is illegal. When it comes to determining at what rate a particular interest charge becomes actionable on a civil basis (where a borrower can object to the terms of
Continue readingPartition Actions in New York: NY Real Estate Law Basics
When a dispute occurs with co-owners of real property in New York it is, often, advisable to initiate a partition action. Under New York’ Partition Law, a partition is a remedy available to any person who is a co-owner of New York real property. Specifically, under N.Y. Real Prop. Acts. Law
Continue readingSuing New York Banks in Equity: New York Equitable Accounting Remedy
Recently, we discussed a case where we were able to hold JPMorgan Chase to their word with regards to a stipulation made in a New York court. We represented a defunct New York corporation suing for the return of a substantial amount of funds that the bank allowed a co-owner to
Continue readingNegotiating New York Royalty Agreements
When negotiating the use of your intellectual property, patent or process in exchange for royalties, these three basic tips are key when commencing negotiating New York royalty agreements and royalty agreements throughout most of the world. This week, we discussed some lessons learned from the recent news that the famed Broadway
Continue readingObtaining A New York Liquor License
Qualifying for a liquor license in New York State may seem straightforward, but will get complicated if you do not know the basics. The application process starts with choosing your business’s location in New York, because it can impact your license application. A New York business selling alcoholic beverages must
Continue readingWhen 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
Continue readingPrivate 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
Continue readingNew York Special Use Doctrine Leads to Special Responsibilities for NY Landlords
Here is some important information for landlords to remember – with special uses come special responsibilities! Last year, a firm attorney in New York argued a matter where our client tripped and fell on a broken concrete pedestrian ramp in front of a two-story mixed-use building, leaving her with a
Continue readingEvery 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
Continue readingNew York Independent Contractor or Employee? Taxi Union Sues Uber
Lawyers, in New York, representing 5,000 Uber drivers in New York City filed a lawsuit in NY on behalf of 10 of these alleged New York employees in federal court in Manhattan last week accusing the ride-share company of depriving these New York drivers of various employment protections they should
Continue readingRegistering 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
Continue readingTerminating 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
Continue readingEnforcement 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
Continue readingProhibiting Dreadlocks Is Not Racial Discrimination: EEOC New York
The U.S. Court of Appeals for the 11th Circuit ruled that a company’s grooming policy prohibiting dreadlocks was not racial discrimination under federal employment law. In EEOC v. Castastophe Management Solutions, a female job seeker responded to an ad for a sales job. The applicant was qualified and interviewed well.
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NY Legal Protection For Employees With Disabilities In New York
As part of our ongoing series of postings bringing awareness to certain laws every New York business owner must know, we bring your attention to laws that protect employees with disabilities. (For other stories in this series, you can read our posts about best practices to avoid age discrimination and
Continue readingNew York Defamation Law: Yelp Alerts Reviewers To Business’s “Questionable Legal Threats” In Response To Negative Reviews
Some New York businesses, including a New York dentist, have been turning to litigation to respond to negative reviews left about their businesses on the popular website, Yelp. Yelp is a website that crowd-sources recommendations and reviews of local businesses. Many businesses see an increase in business activity based upon positive
Continue readingStarting 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
Continue readingPossible Legal Concerns Created By Pokémon GO & Other Augmented Reality Games
With the creation of “augmented reality games” like the wildly popular Pokémon GO, attorneys will be considering the possible legal issues that may arise. Augmented reality games involve live direct or indirect views of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as
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