To some extent, closely held businesses, including family businesses, can face the same legal problems as any other business organization. However, family businesses in New York City and the surrounding suburbs may more frequently run into legal problems related to...
Business Law
Understanding real estate joint ventures
Many people are familiar with the real estate purchase process, either because they bought a home or a business. There is another type of real estate arrangement that they may be less familiar with, however, called a real estate joint venture. A real estate joint...
Understanding buy-sell agreements
If a person is new to business, they may not know what a buy-sell agreement is and how it applies to their operations. Buy-sell agreement overview A buy-sell agreement is sometimes also called a buyout agreement and it is used by business owners to plan for future...
Dissolving a business in New York
There are several reasons a business owner may need to dissolve their business, but they may not know how to go about it. There are financial, legal and operational items to consider. Reasons for dissolution Businesses commonly decide to dissolve due to financial...
Contract drafting should expect the unexpected
Unexpected events are now anticipated in business. To avoid contract disputes, agreements should contain force majeure clauses that address extraordinary events. Force majeure clause A force majeure clause identifies seriously unusual events that make contract...
Jack Nicklaus wins partial victory in breach of contract suit
One of the most common causes of corporate lawsuits is the decision by the founder of a company to retire or pursue a different professional opportunity. Corporate founders often possess significant knowledge about the business and intellectual property of their...
How do I protect myself in commercial real estate transactions?
Commercial real estate transactions are complex and often involve significant risks and liabilities for the parties involved. Whether you are buying, selling, leasing or developing commercial property in New York, New York, you need to protect your legal interests and...
The easy and hard ways to resolve contract disputes
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...
Freeze-outs in the business world and what the ousted can do
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...
Lawsuit shows what happens when royalty contracts go awry
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...