5 Steps of Buying a Small Business in New York

5 Steps of Buying a Small Business in New York

Buying a small business in New York usually follows five distinct phases. Finding a Business Negotiating the Terms of the Deal Due Diligence Documenting the Deal Closing of the Deal Let’s work through the process and how your attorney can help you make this a success. Step One: Finding a Business You can find businesses … Read More

Management Provisions in an LLC Operating Agreement

Management provisions in the LLC Operating Agreement deal with the management of the LLC business, which basically means decision-making for the LLC business. There are ordinary business decisions (think: buying copy paper at Staples, landing another customer, paying employees, enter into contracts….) and extraordinary business decisions, such as taking in a new owner, selling the … Read More

Business Divorce colliding with Marital Divorce

Getting divorced when you own and run a business together with your soon-to-be-ex presents unique challenges.  If you don’t want to continue running the business with your spouse after divorce, you have a case of business divorce colliding with marital divorce. Business divorce is the separation of two or more business partners formerly bound together … Read More

llc ownership percentage

How to determine LLC Ownership Percentage and Why does it Matter?

How much of that LLC do you own, and why does it matter? How do you determine the ownership percentage interest in an LLC? Why does LLC Ownership Percentage matter? Your LLC ownership percentage gives you power over the LLC and its profits.  Either in deciding about important decisions via voting or getting a piece … Read More