Investor Due Diligence When launching a new venture, it can be tempting to accept start-up financing from anyone who offers it. However, entrepreneurs should always take the time to get to know their potential investors when it comes to start-up financing. Given that you will likely be married to them for several years, it is important to ask: are these the type of people you want to work with?
Innovative Ideas To obtain funding, start-ups and other growing businesses need a unique business concept to stand out from the competition. In most cases, it’s even better when the business idea is so novel that there is no competition, at least not yet. From drone racing to car vending machines, we highlighted several companies that are capitalizing on groundbreaking ideas.
Hiring Employees Once your startup is ready to hire employees, it is important to do it right. A written employment contract is recommended to establish and structure the legal relationship when you start hiring employees. Issues to address include wage/hours, equity grants, benefits, non-disclosure of confidential information, termination, and non-compete/non-solicitation.
Hot Industries To boost the probability of your start-up’s success, it helps to enter a “hot” industry where there is room for new businesses to flourish. We highlighted several “hot” industries in 2015, from food e-commerce to legal marijuana to “gamification” services. Several common themes unite these industries, including the innovative use of technology in new fields.
Founders Agreements Young entrepreneurs are often so excited to bring their idea to market that they shun the typical formalities of forming a new business. However, as tech start-ups like Tinder and SnapChat have learned the hard way, handshake agreements and napkin contracts can lead to nasty lawsuits among business co-founders. To avoid legal headaches, it is advisable to execute a written partnership or founder’s agreement.
When a Child Turns 18: The Gap in Your Family’s Estate Plan
Once a child turns 18, parents lose the automatic legal authority to make medical and financial decisions on their behalf, even if the child still lives at home or remains on the family’s insurance. Three documents close that gap: a durable power of attorney, a health care proxy or directive, and a HIPAA authorization. For […]
Business Mediation: An Overview and Practical Tips
Business mediation is a confidential, voluntary process in which a neutral third party helps companies negotiate a resolution to a commercial dispute without going to trial. Because working with a mediator is very different from litigating in the courtroom, it is important to understand how commercial mediation works, when it makes sense for your dispute, […]
Top 5 Causes Leading to Construction Defect Litigation
The five most common causes of construction defect litigation are design defects, substandard materials, workmanship defects, code violations, and subsurface defects. Because these flaws can compromise a building’s integrity, functionality, or safety, they frequently lead to disputes involving multiple parties and high financial stakes. Key takeaways: What is Construction Defect Litigation? Construction litigation is complex, […]
How to Protect Your New Jersey Business When Going through a Divorce
The most effective ways to protect your business in a divorce are put in place before one begins: a prenuptial or postnuptial agreement, clean separation of business and personal finances, and divorce contingencies built into your operating or buy-sell agreements. If divorce is already underway, the priorities shift to establishing how the business is classified […]
The most common franchise disputes involve breach of contract, franchise termination and non-renewal, intellectual property rights, territorial encroachment, royalty and fee payments, franchisor support obligations, and violations of state franchise laws such as the New Jersey Franchise Practices Act. Franchisors and franchisees can often resolve these conflicts by providing written notice detailing the dispute and […]
Reputational Risk and Legal Exposure: Why New Jersey Businesses Must Manage Them Together
New Jersey businesses must manage legal and reputational risk together because modern disputes play out on two fronts at once: the legal proceeding itself and the court of public opinion, where customers, employees, investors, and business partners often reach conclusions long before a judge or jury has had the opportunity to evaluate the facts. Success […]
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