In the digital age, data is a valuable commodity. For a business in New York, a data leak can be a nightmare scenario. The information of customers and employees or even trade secrets may become exposed, leading to a loss of trust and potentially significant financial...
Recognizing potential red flags in a business contract
In the business world, contracts are essential tools for formalizing relationships and securing commitments. They provide a legal framework within which businesses can operate. However, not all contracts are fair or beneficial, and some may contain terms that can lead...
Why should you make your partnership formal?
A business partnership can expand your opportunities for growth and success. Turning it into something sustainable requires careful planning and consistent effort. A formal legal agreement will reduce your risks substantially and allow you to clarify expectations...
What should be in a business plan?
Starting a business is an exciting time, but it is paramount that you begin the process on the right foot. One of the most important steps when creating a business is formulating your business plan. A good business plan will help you show lenders and investors that...
Coming to an agreement in contract disputes
Contracts help you outline agreements with other people and organizations. Sometimes, though, the terms of these contracts come into question. Sometimes, you might believe that someone is not holding up their end of your agreement. You might also need to defend...
3 tips to draft an enforceable non-compete agreement
Asking your employees to sign a non-compete agreement can help protect proprietary and confidential information. An employee who signs a non-compete agrees not to work for any of your competitors for a certain amount of time. According to the American Bar Association,...
Is mediation or arbitration right for you?
Though no one wants to deal with a business dispute, this is an inevitable possibility when dealing with other people in a business setting. If you do come across such issues, how can you cope with them? If you want to avoid litigation, what options are available?...
Common reasons for lawsuits against businesses in New York
Running a business can leave you vulnerable to a number of lawsuits. There is a lot to keep track of as an entrepreneur, and protecting yourself from liability should be a high priority for you. Here are three common reasons businesses face suits. 1. Breach of...
What role does a mediator play in your dispute?
Dealing with a dispute with a business partner can feel like an enormous struggle and an even bigger undertaking. This is especially true if parties jump to the conclusion that the only way to solve it is via litigation. Fortunately, other methods are available. One...
How do you know it’s time to break up with your business partner?
Starting your business with a friend or colleague can give you the emotional support of working with someone familiar while adding an extra person to support your new company. Initially, the novelty of starting a business can help you both overlook some of the...