Small Business Law
Opening a small business is often a challenge. Understanding the various organizational forms that a start-up may take, dealing with employment issues, and striving to keep financial affairs in order so that the business can reach the elusive “next level” may be complex and time-consuming. The New York business lawyers at The Nathanson Law Firm LLP can help people who aspire to own a small business with forming a corporation, partnership, limited liability company (“LLC”), or other business entity, such as a Limited Liability Partnership (“LLP”) or a Family Limited Partnership (“FLP”). Medical Practices often see benefits in a Professional Limited Liability Company (“PLLC”). In addition, we advise existing small businesses with regard to the formation or negotiation of contracts, ways to minimize liability, and other issues. Our firm also is available to guide clients who need a debt collection attorney or assistance in other legal matters. We can set up your small business with the proper forms and protocols to assure that you will have the best opportunity to recover should any of your customers wind up as debtors.
Whether you are just starting out in the world of entrepreneurship or whether you own an established business, you probably have a lot of questions about small business law and how it pertains to your particular situation. Our experienced attorneys will be happy to talk with you about your business and address your concerns. For example, during the creation of a small business, an owner has several choices with regard to the form of ownership or legal business structure that they will choose. These include the formation of a corporation, which establishes the business as a separate legal entity from its owner. The owner may own 100% of the stock, serve as the chief executive officer, and be the only employee of the business, but the corporation and the owner are separate in the eyes of the law. This allows the owner to protect personal assets, such as a home or bank account not associated with the business, and it may afford some flexibility with regard to taxation.Addressing Liability Concerns and Other Business Law Issues
Of course, the formation of a corporation, LLC, or other separate legal entity does not protect a business owner from all liability. The formalities of ownership, including the filing of records with the appropriate state officials and holding regular meetings, must be observed. Otherwise, a potential creditor may “pierce the corporate veil” and hold the owner personally liable for a business debt or a judgment against the business, such as a personal injury claim following a slip and fall accident on its property. For this reason, it is important to have an adequate amount of liability insurance. While an insurance agent can explain the purposes and prices of different types of insurance, it is always a good idea to speak to a business attorney in New York to make sure that adequate protection is in place for a particular situation. The Nathanson Law Firm LLP also offers asset protection guidance, both when you need it as well as years before it is hopefully never needed. The best time to make your asset protection plans is long before your assets are at risk.
Our attorneys also assist with the negotiation of contracts, including financial documents, purchase agreements, waivers, and releases. One of our aims is to make sure that a business owner understands the legal rights and responsibilities created by a certain contract for both the business and the owner personally. For instance, a lender may ask the sole stockholder of a corporation to guarantee, in their individual capacity, a loan for the business or a commercial lease. In this situation, the business owner may be held personally liable if the loan or lease goes into default, even if the business is incorporated or has other limited liability protections. The landlord-tenant attorneys of The Nathanson Law Firm LLP can assist you in negotiating your commercial leases and in defending eviction proceedings.
We also handle breach of contract issues, representing clients who believe that another party has broken an agreement and clients against whom such an allegation has been made. This allows us to approach each case from a neutral standpoint, understanding the arguments and strategies that each side is likely to use. We will provide you with a candid and realistic assessment of how the law applies to your situation.Retain an Experienced Small Business Lawyer in New York
If you are a small business owner or considering a start-up, you need dependable legal advice. At The Nathanson Law Firm LLP, our established professionals are here to help you at each step of the way. Call our New York business attorneys at 516-568-0000 today or contact us online to learn more about how we can limit your exposure to liability and maximize collection of your accounts receivable so that you can focus on the important work of maintaining and growing your business. We offer a wide array of fee structures and payment plans. Based in Lynbrook, NY, on Long Island, we also provide representation to clients who need a real estate attorney or guidance in debt collection, landlord-tenant, or estate planning matters.