What Does Intellectual Property Mean To Your Business And What Kind Do You Need?

Rita LIn, Esq. on April 20, 2015

When starting a new business or sustaining a growing one, there is a real fear that someone might steal your work product and siphon your success. So how can you best protect yourself? Intellectual property is the way to “mark your territory” by legally protecting your ideas and designs. There are essentially four different categories of intellectual property and choosing which one is best suited to your business and budget is the first step in ensuring the protection of your creations. Copyright Copyright protection is the easiest protection to get, since it’s instantaneous the moment you create something, such as Read More…


Think Like a Buyer: How to Boost the Value of Your Business, Starting Now

Corey Lederman on April 20, 2015

I know what you’re thinking: “I’m not planning to sell my business any time soon, so I don’t need to worry about the value of my business yet.” The reality is, by the time you start thinking about selling, there’s a good chance it’s too late to make any real changes that can boost your business’s worth. But there are things you can do throughout the entire life of your business to make sure that, when the time comes, you have a very tempting offer for buyers. The key is start thinking about what buyers look for (and what sends Read More…


Buy-Sell Agreements: The #1 Must-Have for Your Business Partnership

Elena Volkova on February 3, 2015

When you go into business with a partner, you have shared dreams and (hopefully) a great working relationship. In many cases, the business partnership flourishes and remains intact for years. That’s the hope, anyway. But what happens when the partnership needs to end? Even if it ends on friendly terms, untangling a business partnership is difficult. There’s usually a cost involved in separation – and if you don’t have a written agreement about who owns what, you may also experience some fighting and emotional pain. How can you avoid a messy end to a partnership? By having a well-drafted buy-sell Read More…


Do You Have a Corporate Governance Checklist?

Volkova Law PLLC on November 17, 2014

As 2014 draws to an end, we’ve begun to go through our corporate compliance checklist for our clients. The end of year is also the time when I dust off my corporate formalities soap box. Forming a corporation is not a “set it and forget it” type of activity. If you want effective protection of your personal assets — from the risks and potential claims of your business activities — you need to mind your corporate formalities. What does that mean? The legal standard is set in the New York Limited Liability Company Law or New York Business Corporation Read More…


Loans from Friends & Family: How to Borrow (or Lend) Money without Hurting Your Relationships – Part 2 of 2

Volkova Law PLLC on October 3, 2014

By Elena Volkova, Esq. To see Part 1, click here. Talking to Potential Lenders The next step is to start talking to your potential lenders. Explain to them what is happening in the business, and why you need the money. Explain to them that you are comfortable keeping business and personal separate, and that you’re willing to stand by your commitments to pay. And then ask if they might be willing to lend you money. That’s it. All you have to do is ask. Some people will say “no,” and some people will say “yes” or “maybe.” Read More…


Loans from Friends & Family: How to Borrow (or Lend) Money without Hurting Your Relationships – Part 1 of 2

Volkova Law PLLC on October 3, 2014

By Elena Volkova, Esq. If you’re in business, I’m willing to bet that you want that business not only to do well, but to grow. And growing a business means that you’ll need to finance that growth. For most people, the easiest source of money is family and friends… And for most people, asking for money from family and friends is scary. We’ve all heard stories of relationships gone bad because somebody lent money to a relative and the relative never paid it back. This does happen sometimes. But it does not have to happen to you. What happens Read More…


Turning Your Business Over to the Next Generation: 10 Tips for Your Family Business

Elena Volkova on September 5, 2014

Passing the torch to the next generation can be one of the most emotional and difficult business deals you may ever take on. What makes a family business unique is also what makes these business transitions the hardest. Business owners are less likely to wear their ‘business hat’ and more likely to wear the hat of ‘dad’ or ‘aunt’, when family is involved. Which means sometimes, the business depends more on trust, care, and family dynamics than on solid legal structures. And that’s lovely, but if you don’t have the same legal structures in place that other businesses have, your Read More…


Why Your Website’s Privacy Policy is More Important Than You Think

Sasha Herzig on August 7, 2014

If I were to ask you how many times in the last month you’ve used the internet to shop, research, or communicate, you might laugh and say, “Too many times to count!” Now, if I were to tell you that all those websites have collected data on you, would you be surprised? Most business owners who derive revenue from a company website wouldn’t be surprised. They know how important it is to collect certain data on the people who come to their website. Your list of current and prospective clients holds the greatest value in your business. And your collection Read More…


How a Well Drafted Client Service Agreement Can Help Your Business Grow

Elena Volkova on July 17, 2014

Are you a service professional looking to kick your revenue up a notch this year? Allow me to introduce to you a legal document that can help your growth… but that many entrepreneurs overlook during their first few years of business. That document is a well drafted service agreement. You may be thinking: But a service agreement comes after you and the client have already agreed to work together. So how can an agreement actually help your business grow? For starters, when a client sees an agreement that was carefully prepared, yet is easy to read and understand, she knows Read More…


Terms and Conditions: The Surprising Mistakes That Even Smart Entrepreneurs Make On Their Websites

Sasha Herzig on July 1, 2014

We’ve all done it. Without giving it a second thought. Maybe you’ve done it when buying goods or services, or simply entering a website. I’m talking about all the times we see a little check box on a website that says, “I have read and agreed to the Terms and Conditions,” and then we check that box without actually reading the Terms and Conditions. I’ve heard people say, “Those terms aren’t enforceable because no one reads them.” I’ve also heard, “All websites use the same terms and conditions.” Unfortunately, both of those statements are false. These terms ARE enforceable, and Read More…


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