Conflict Resolution
As a business owner you will encounter conflicts; particularly with your fellow business partners. As in any relationship, it helps to deal with these conflicts rationally. Easier said than done, I know. My favorite blog about blogging (Problogger by Darren Rowse) has a post about "10 steps to conflict resolution." Darren recommends: ...
Read MoreYou may be a Partnership without knowing it!
The scenario is all too common. You and one or more of your friends "go into business together." You start spending money on the business, take in some first profits, and share everything equally. Since you are all friends, there are no lawyers and no paperwork to hold you back. For reasons discussed in an earlier post, this is risky business. ...
Read MoreYour Employee’s Right to Party!
Did you know that your employees have a right to pretty much do whatever pleases them outside of work? New York law (New York labor law Section 201-d 1.b.) prohibits employers from firing employees for "engaging in legal recreational activities outside work hours." "Recreational activities" are "…any lawful, leisure-time activity, for which the...
Read MoreFive Steps to Buying a Small Business in New York – Part 5: Closing the Deal
Part 1 here, Part 2 here, Part 3 here, Part 4 here. Finally, the day of the closing on your small business purchase has arrived. The parties and their attorneys come together for the final handshake on the deal. All of the remaining agreements are executed, documents are exchanged, and money changes hands. Usually, the sales agreement sets forth when and where the closing is to occur; often this...
Read MoreFive Steps to Buying a Small Business in New York – Part 4: Documenting the Deal
Part 1 here, Part 2 here, Part 3 here. The purchase of a small business requires many legal agreements and documents to effect the transaction. Obviously, you need an experienced attorney to draft and/or review all of these documents and explain their significance to you. While you were the one to negotiate and reach an agreement on the business terms with the seller, it is your...
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