Let’s be honest. It’s frustrating when something interrupts the progress of a project right in the middle of it. That frustration is far more significant when the project is halted due to a contract dispute with a contractor. Contract disputes can be difficult to...
When it comes to relations between minority and majority shareholders in a close corporation, sometimes business gets personal. In what may be an unexpected move to the minority shareholder, the majority shareholders may amend bylaws in a way that “freezes out” the...
The estate of the late music legend Rick James is facing a lawsuit regarding unpaid royalties. The lawsuit alleges copyright infringement and breach of contract. The defendants claim James’ estate is profiting off their work. The lawsuit The alleged problem began when...
When two or more entrepreneurs decide to form a business, their heads are usually filled with optimistic fantasies about future profits. Rarely do the founders of a company presume that the business will fail or that an intractable dispute will threaten the existence...
Contracts form the bedrock of many business relationships in New York. Vendors, suppliers, subcontractors—there is a different type of contract for any given relationship. Unfortunately, sometimes even the most carefully crafted contract isn’t enough to prevent...
Compared to forming certain types of business entities, such as a corporation or an LLC, it's relatively easy to form a partnership. Technically, any time two or more people decide to jointly manage a business and share its profits together, they are creating a...
Celebrity lawsuits are always interesting as they often involve damages in the millions that we can only dream of. Football fans of Odell Beckham Jr. may be interested to learn that the NFL free agent is embroiled in a lawsuit with the sportswear company Nike,...
Many closely held businesses in the New York City area are owned by members of the same family or friends who have known each other for a long time. It is a hard fact of life that even when owners are related, conflict between them can tear a closely held business...
Business litigation scares even the savviest businesses owners. Why? Because, quite literally, business owners could lose their business, either through bankruptcy due to an extremely large judgment or through receivership. And, what some business owners may not know...
Many individuals decide to incorporate their business to protect themselves against liability. Unfortunately, this strategy can fail if the business owners fail do not pay attention to the corporate formalities, they may lose the protection of the corporate form....