Increasing your Chances of Collecting Outstanding Invoices

Increasing your Chances of Collecting Outstanding Invoices

I wish every small business that all its clients and customers always pay what is owed.  Unfortunately, we know this not to be true.  At a certain point, all small businesses face the dilemma of either writing off an unpaid invoice or trying to collect it in court.  But there are measures you can take to increase the likelihood of collecting outstanding invoices. One is a written agreement,...

Read More

Evidencing Ownership in a Corporation – Nothing beats a Share Certificate

Evidencing Ownership in a Corporation – Nothing beats a Share Certificate

Nothing beats a Stock Certificate when you have to prove your ownership in a business corporation.

Read More

When it Smacks, it Cracks – Your Limitation of Liability Clause, That Is

I am sure you have seen this or a similar contract clause before:   "The Company's liability for damages,  including incidental or consequential damages, is limited to the total compensation paid to the Company by Customer"  In New York, it is perfectly fine to include such a clause in a contract among business people, with the effect that the Company would not be...

Read More

Small Business Partnerships -Protecting your Minority Stake

You do not have to rely on the goodness of human kind alone, when going into business with other people.  There are legal (agreements) and practical measures (business common sense)  that you can take to make sure that your business investment in a limited liability company, corporation or other entity does not fall prey to the shenanigans of your fellow – majority –...

Read More

New York LLC Formation

Let us help you with  your New York LLC Formation!  Call us to discuss your legal concerns and any other questions you may have about the process of forming a New York Limited Liability Company.  We are not a paralegal service where you don’t get to speak to a real New York attorney.  We are a small business law firm where every client counts. We will form your New York LLC and get you...

Read More

Lack of Shareholder Agreement leaves Dentist’s widow empty handed

As New York Business Divorce reports today, the lack of a shareholder agreement caused a New York widow of a dentist, who was practicing dentistry in a professional corporation, to be left with nothing.   Despite the fact that the deceased dentist was a 75% shareholder in the dentist professional corporation and his widow had found a dentist purchaser for the dentist practice offering...

Read More

Can you be liable for third party defamatory comments about your competitor posted on your Blog?

Most businesses now have a blog connected to their website.  Blogs attract comments.  What if a particular nasty comment is posted by a visitor about one of your competitors?  Can the competitor come after you for defamation or unfair competition? New York's Highest Court has recently said, no, a business is not liable for the defamatory comment of a visitor on its blog...

Read More

Contracting by Email and the Statute of Frauds

Email can actually save many agreements that would otherwise fall prey to the "statute of frauds".   Let me explain. I know that many of you neglect to get their agreements and understandings in writing.  And, on an emotional level, I understand why.  It can seem off putting, too demanding and even insulting to new business partners to immediately have every...

Read More

New York State Sales Tax Information

The New York State Department of Taxation and Finance just updated some of its very helpful information regarding business owners and their sales tax obligations. For a general overview, consult "Your responsibilities under the New York State and local sales and use tax laws." Other updated guidance: "How sales and use taxes apply to interior decorating and design...

Read More

The DOL Timesheet App and a Reminder on keeping Wage and Hour Records

The Department of Labor recently released an app for workers to independently keep track of their hours worked, wages earned and breaks taken.  According to their press release, "This app will help empower workers to understand and stand up for their rights when employers have denied their hard-earned pay." Obviously, this raises concern that the small business owner will...

Read More