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Loans or Investors?

Determine the Funding and Capitalization of Your Business Your business plan should adequately address the funding requirements of your Company in order to get the Company off the ground and running. Funding can come from various sources but basically broken down as follows: (a) loans (b) investors Here, we discuss generally some of the pros and cons of each […]

Are You An Oppressed Shareholder?

One of the most common claims amongst minority shareholders in a corporation is the “oppressed shareholder/member” claim. Essentially, one argues that their rights and expectations have been utterly defeated by the other shareholders and as such, they are entitled to some relief from the Court. Below, we take a look at the legal theories, cases […]

FAQ’s: Forming a PLLC in New York

The following outlines the process and costs for creating a PLLC in New York: File Articles of Organization with the NY Department of State. Filing fee $235 Obtain required consent from the New York Department of Education. Filing Fee $110. NOTE: The name must include the profession, name and or/location. Anything outside those rules has […]

Some Talking Points for You and Your Prospective Business Partner

In deciding whether to take on a business partner most people have no clue where to start. They often don’t even know which questions to ask before making the decision to take on a business partner. The following is intended as a guide, to provoke you and your prospective business partner into thinking more c […]

The Test for Whether Your Independent Contractor is Truly an Independent Contractor

IRS 20 Factor Test – Independent Contractor orEmployee? The IRS test often is termed the “right-to-control test” because each factor is designed to evaluate who controls how work is performed. Under IRS rules and common-law doctrine, independent contractors control the manner and means by which contracted services, products, or results are achieved. The more control […]

Forming a Corporation: FAQ’s

The following is an explanation of how a Corporation is formed and the process. To form a Corporation one files a Certificate of Incorporation with the Department of State. The filing fee for filing the Articles or Organization is $125 plus a $25 expediting fee. The firm’s legal fee to prepare and file the Articles […]

What if the Other Side Doesn’t Respond to My Discovery Demands?

The general rule with respect to discovery is as follows: “Parties to civil litigations are granted broad rights to disclosure of all relevant and material matters as well as documentation that might lead to the discovery of admissible proof.” Montgomery v. Taylor, 275 A.D.2d 698, 713 N.Y.S.2d 188 (2d Dep’t 2000).   The Civil Practice […]

What if the Defendant Doesn’t Respond to My Lawsuit?

A lawsuit is commenced by filing and then serving a Summons and Complaint. The Defendant then has 20 days to serve an Answer (30 days if they were not personally served). But what happens if someone doesn’t Answer the Summons and Complaint? Well, in New York the applicable statute that deals with defaults is as […]

Forming an LLC: FAQ’s

The following is an explanation of how an LLC is formed and the process. To form an LLC one files Articles of Organization with the Department of State. The filing fee for filing the Articles or Organization is $200 plus a $25 expediting fee. The firm’s legal fee to prepare and file the Articles of […]