Being frozen out of a Limited Liability Company (LLC) by another shareholder can be a challenging and frustrating situation. However, you can take steps to address this issue and protect your rights as a shareholder. Document everything Keep thorough documentation of...
Business Law
What are your options during an LLC dispute?
Forming an LLC is advantageous at the outset of a new business for a variety of reasons, not the least of which is the ability for multiple entrepreneurs to launch a joint venture under a separate legal identity. When two or more leaders go into business together,...
What to do if you are frozen out of an LLC by another shareholder
Limited liability company structures give you the benefits of a partnership and sole proprietorship, such as pass-through taxes and no board requirements, but protect your personal assets similar to a corporation. They are easy and inexpensive to create as well....
3 common risks of liability that commercial real estate owners face
Property owners and managers have a legal responsibility to protect their employees, tenants and visitors from accidents and injury. Common accidents on commercial properties include slip and falls, inadequate security and hazardous conditions. 1. Slip and fall...
Lacking an exclusivity clause leads to commercial lease disputes
After what might be months of planning, preparation and negotiation, signing a commercial lease is one of the final steps before you can open the doors of your new business. Keep in mind, though, that it always pays off to carefully read the terms of your lease before...
3 common zoning issues business owners should be aware of
When launching a new business or opening a new location, compliance with local regulations is essential. Failing to comply can lead to disputes with neighboring property owners and your local zoning board. Zoning disputes can be time-consuming, costly and disruptive...
Are LLCs or S-corporations better for entrepreneurs?
As an entrepreneur looking to establish a business in New York, you may weigh your options and try to pick a business structure type that offers the biggest benefits in terms of tax implications, ease of operations and so on. Along the way, you may consider...
Formalizing your business partnership
Many business ideas begin informally. Whether it is a few friends in the garage or someone who becomes a mentor along the way, you might not start your company with a written agreement. Creating a formal partnership may seem unnecessary, especially when you have a...
Why you need a shareholder agreement before you start doing business
Whether you have a small corporation or a mid to large-sized one, you need a well-crafted, thorough and air-tight shareholder agreement in place. It’s not a legal requirement, but having a shareholder agreement can help your company to avoid many challenges and...
What happens to your business ownership interest when you die?
You and your business partners have worked tirelessly to build your company from the ground up. After all your years of sacrifice, you don’t want the fruits of your labor to dissipate and to be of no good to your loved ones once you’re no longer around. How can you...