Are Verbal Agreements Legally Enforceable Contracts?

Many people mistakenly believe that verbal agreements are unenforceable in a court of law, and have found to their dismay that this is not always the case. Under the statute of frauds, there are certain agreements that must be in writing, including those involving marriage, real property transactions, and the sale of goods with a […]

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The Corporate Decisions That Must be Documented

Corporation owners are required to maintain corporate records, including documenting major corporate decisions, as well as hold meetings of shareholders and Board of Directors. If these formalities are neglected and the company has legal problems, shareholders could be held personally liable for corporate liabilities if a court finds the proper formalities were not followed and […]

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Top 5 Misconceptions About Business Incorporation

If you are in the process of starting a new business, deciding on whether or not to incorporate that business can have long-term consequences when it comes to taxation and personal liability protection. This is why it is important to separate myth from fact about business incorporation; here are five common misconceptions: Incorporation allows businesses […]

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Factors in Choosing a C Corporation Over an LLC

The decision on how to incorporate a new business is one of the most crucial any business owner will ever make. To make the right choice, a business owner needs to consider his or her goals — business, personal, and financial — as well as future interests. Generally, business owners who choose an LLC structure […]

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Key Elements of an Effective Operating Agreement

While New Jersey does not require an operating agreement in order to form a limited liability company (LLC), not having one means that your business must operate under the state’s rules and regulations — something that may not be in the best interest of your company. An LLC’s operating agreement is used to define the […]

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How to Maintain Your LLC’s Liability Protection

Most business owners choose to incorporate their companies as limited liability companies (LLCs) to ensure that in the event of business bankruptcy or indebtedness, their personal assets will not be at risk. An LLC provides this kind of personal protection, unless that protection is lost through one of these five common factors: Wrongdoing or fraud. […]

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How to Avoid the Top 10 Mistakes Entrepreneurs Make

If you’ve never done it before, starting up a new business venture can bring on many sleepless nights worrying if you are doing things right and — sometimes even more importantly — if you’re doing something wrong. Making missteps is bound to happen in any business; you just want to be sure that those you […]

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Top 10 Legal Guidelines for Entrepreneurs

Whether you’re a Baby Boomer launching a second career or a Millennial looking to make millions by striking out on your own, there are some basic legal guidelines for entrepreneurs who are considering launching their own businesses. Here are the Top 10: Choose the right business entity. Many entrepreneurs will launch their new ventures as […]

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Key Considerations for Selecting the Right Business Entity

Making the decision on what type of legal entity to operate under as a new (or even existing) business is much more difficult if you don’t understand the legal and tax ramifications of each potential choice. Here are some key considerations you should be making as you examine your options: Tax treatment. Business entities differ in […]

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3 Risky Business Moves That Can Lead to Litigation

Experienced business owners know to mitigate risk as much as possible, especially risks that can lead to costly litigation. While there are some inherent risks to any business that can be anticipated and planned for, there are some that seemingly come out of nowhere, without a plan in place to diminish them. These three business […]

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