I am picturing a client walking into an initial consultation asking this question considering some perceived wrongdoing by the respective other 50% shareholder of the corporation or member of the limited liability company. Of course, I would investigate the specific facts underlying the client’s concerns, but in general, what are your rights when you own … Read More
If a small business corporation never issued shares to you, can you still be an owner/shareholder of that corporation? Yes, you can still be a shareholder of that corporation, if you have good other evidence that shows that you became a shareholder at one point, but it will be more difficult to prove in court. … Read More
Many people like to let things fester, especially if it involves relationships. It takes a lot to let the barrel overflow and finally take action. If this rings true with respect to your gripes with your business partner’s acts of disloyalty, waste, or other misconduct, be aware that, in most cases, YOU ONLY HAVE 3 … Read More
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
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
Did you know that there are actually limits in New York as to how much a lender can charge you in interest? In general, no person or entity may charge interest in excess of 16% per annum. That is set forth in New York General Obligations Law Section 5-501 and is called civil usury. If … Read More
Picture this: Your Ohio/California/Michigan business provides services to customers nationwide. One day you have an interest from a New York caller. There is email back and force, phone calls, and finally you send your service contract to the New Yorker who signs it and emails it back to you. All the services you provide take … Read More
