Category: Wellbeing

“Transferring” a Liquor License in New York

“Transferring” a Liquor License in New York

It is common to hear people refer to “transferring” a liquor license upon the purchase or sale of a business, but, because of how the liquor authority evaluates liquor license applications, there really is, by definition, no such thing.  But don’t take my word for it.  The Chief Executive Officer of the New York State […]

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Starting a Business? Preparing a Business Plan is Essential For Success

Starting a Business? Preparing a Business Plan is Essential For Success

It is very common for me to speak with business people who started their businesses without creating a business plan.  This is easy to understand because creating a thorough business plan that covers all of the essential topics is time-consuming. It is also frightening because it forces the prospective business owner to face issues related to starting […]

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How to Start a Business with a Partner

How to Start a Business with a Partner

It is impossible to overstate how carefully one must approach starting a business with a business partner.  First and foremost, there must be open and honest communication about each person’s vision for the business, goals and exit strategy, roles, abilities and limitations, and there must be appropriate documentation prepared setting out what the business relationship […]

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Determining Whether You Must Pay Your Interns

Determining Whether You Must Pay Your Interns

Internships can be mutually beneficial, but not all internships may be unpaid, contrary to what it seems many believe. Set out below is guidance from the US Department of Labor on the issue: Fact Sheet #71: Internship Programs Under The Fair Labor Standards Act This fact sheet provides general information to help determine whether interns must […]

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Your Initial Legal Obligations As A New Employer In New York

Your Initial Legal Obligations As A New Employer In New York

When hiring employees, businesses must comply with numerous filing, reporting and insurance requirements. In addition to federal requirements, New York requires businesses to report various types of information about their employees.  The New York State Department of Taxation and Finance has prepared a comprehensive guide to hiring employees in New York, which can be found here. […]

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Things Entrepreneurs Never Should Say

Things Entrepreneurs Never Should Say

We regularly advise entrepreneurs about how to start out properly and how to deal with particular issues that are likely to arise, and this piece by small business expert Rhonda Abrams could not have said some things better. Below are seven things that she says entrepreneurs should never say, and we agree: I have come […]

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Do Not Expect an Internet Operating Agreement To Do The Trick

Do Not Expect an Internet Operating Agreement To Do The Trick

I come across this issue so often, I have decided that I am going to write about it often with the hope that I can assist some people with avoiding a potentially critical early stage mistake. Oftentimes when I have a discussion with someone who had a bad partnership agreement (this is just a general reference […]

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The Importance of Well Drafted Employment Agreements

The Importance of Well Drafted Employment Agreements

Not every business is of the type that requires contracts with employees, particularly businesses that have high employee turnover, but, otherwise, most business owners should seriously consider whether to enter into employment agreements with their employees.  Some of the reasons for doing so are to clearly define the employee’s job and your expectations; clearly set out compensation; […]

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The Importance of Non-compete and Non-solicitation Provisions in Your Employment Agreements

The Importance of Non-compete and Non-solicitation Provisions in Your Employment Agreements

If you are going to have your employees sign employment agreements, then you should assess whether to ensure that those agreements include non-compete and non-solicitation provisions. A non-compete provision prohibits the employee from entering into a business that is competitive with yours for some period of time after the termination of their employment with your […]

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Why Well Drafted Partnership Documents Matter: Court Holds that Funds Paid to LLC By Members After Initial Capital Contributions are Loans by Default

Why Well Drafted Partnership Documents Matter:  Court Holds that Funds Paid to LLC By Members After Initial Capital Contributions are Loans by Default

The following illustrates why well drafted operating, partnership, or shareholder agreements among business partners (the type of agreement is related to the type of entity) are essential.  And it is substantially more cost effective to pay a professional to properly draft these documents up front as opposed to litigating the matter later. As the New […]

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Stay Focused and Run Like Heck: Some Thoughts About Crisis Management For Entrepreneurs

Stay Focused and Run Like Heck:  Some Thoughts About Crisis Management For Entrepreneurs

Being an entrepreneur is not easy; there will be great days and there will be terrible ones.  Even with all the best and thorough planning in the world, there will be events that occur that were not in the plan that we must be able to deal with in a focused, decisive, and winning way. […]

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How to Pick the Right NYC Business Lawyer for Your Startup

How to Pick the Right NYC Business Lawyer for Your Startup

This is a great and very scary story that teaches an important lesson about choosing the right NYC business lawyer: Picking the right attorney in your startup is as important as picking the right business partner. You can’t underestimate the importance of selecting an attorney who “gets” your business model, your market opportunity, and most […]

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3 steps for dousing the flames of job burnout

3 steps for dousing the flames of job burnout

When deadlines seem out of reach, meetings are nonstop and requests from clients and colleagues are overwhelming, it can frustrate even the most upbeat employee. Nearly everyone has experienced a bad day at the office. But for some employees, that bad day can extend for weeks or even months and may result in motivational and […]

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