Business Law

It is important to understand that there is a small but important difference between a DBA (doing business as) and an alternate business name in New Jersey A DBA is for non-New Jersey companies that want to do business in New Jersey, but their business name is already being used by a New Jersey company. […]

Clients often ask “What do I do first when starting a business?” The most critical thing is to get and use an attorney The first thing to do is to create the appropriate business entity: either an LLC, a C Corporation or an S Corp. Almost never use a partnership anymore. Second, get insurance. The […]

Clients often ask: What’s important to know when buying a business? There are four critical issues to bear in mind: First: Examine closely the tax history of the business so you will have a clear sense of its profitability and liabilities. Second: Make sure you have a strong business purchase and sale agreement, which will […]

The three available types are the C Corporation, the S Corporation and the LLC All three shield you from personal liability; only the corporation itself can be sued Owners and officers cannot be individually sued The Corporation structure is used primarily when there will be several or many outside investors and/or shareholders buying in The […]

Clients will sometimes ask about what a non-profit is and how to get one A non-profit is an entity classified under Internal Revenue Code 501(c)(3) If the IRS grants an application for non-profit status, you become a “charitable organization” Such organizations do not have to pay income tax on income Also, donations to that entity […]

What can be done if you and your business partner are fighting? The first thing to do is to work hard at remaining as friendly as possible But the most important preventative measure is to have a written contract with your partner The contract is an operating agreement, a shareholder agreement, that establishes the boundaries […]