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.
Company Dissolved? Legal and Financial Consequences to Expect
A company is dissolved; legally, it ceases to exist. Accordingly, dissolution results in significant legal and financial consequences. It is a process that must be properly managed to avoid continuing liability. The Corporate Dissolution Process Corporate dissolution is the legal process of formally closing a corporation, paying its debts and distributing the remaining assets. Most […]
The Legal Implications of Signing a Triple Net Lease
A triple net lease is a commercial lease in which the tenant pays the property’s real estate taxes, insurance, and maintenance costs, known as the three nets, in addition to base rent. They are most often used in freestanding retail and office buildings and in large single-tenant industrial properties, with terms that typically run 10 […]
When to Settle and When to Fight: A Litigator's Framework
Every lawsuit comes with a cost, and knowing when to settle a lawsuit is one of the most consequential decisions a business owner will face. Experienced litigators understand how to minimize cost and obtain certainty for their clients. For many business owners, the decision is viewed almost entirely through a financial lens: What will it cost […]
A Whistleblower Just Filed a Complaint Against Your Company: Here's What to Do Now
Few situations create more uncertainty than learning that an employee has filed a whistleblower complaint. Questions arise immediately: Is the allegation legitimate? Should the employee be placed on leave? Do we need to notify our insurance carrier? Are we now prevented from disciplining the employee if there are unrelated ongoing work related issues? There is […]
Assignment for the Benefit of Creditors: An Alternative to Bankruptcy for Distressed Businesses
When a business reaches the point where it can no longer service its debts or otherwise resolve its liabilities, management is often faced with a difficult question: is a bankruptcy filing necessary or is there another way to perform an orderly liquidation or sale of the business assets? While Chapters 7 and 11 of the […]
Breaking Down New Jersey’s “Mansion” Tax: What Buyers and Sellers Need to Know
For many years, the New Jersey Mansion Tax has been a significant consideration in high-value real estate transactions. Recent legislative changes, however, have substantially altered how the tax operates, including who is responsible for paying it and the amount owed in certain transactions. Whether you are purchasing, selling, or investing in New Jersey real estate, […]
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