Dunn Lambert, LLC
We mean business
Comprehensive legal services for businesses in New Jersey and New York call 201-291-0700
Dunn Lambert, LLC
comprehensive legal services for businesses call 201-291-0700

Which business valuation method may work best for your company?

Working in the business world can prove exciting and provide a sense of accomplishment. Over the years that you have run your company, you may have experienced many ups and downs that allowed you to work hard and gain the sense of success you so desired. Of course, you may have reached the point in your life when the time has come to move on from your company, and as a result, you may wonder about the best manner in which to value your business.

Because you could choose from various methods when it comes to business valuation, better understanding some of your options could help you make a decision. As each method may result in different outcomes, you may want to assess the specifics of your business during the valuation process.

Parting ways with your business partner

No matter how compatible you are or how long you have been working together, disagreements can create tension between you and your business partner. These disagreements can stem from any source, either within or outside of the business. Some common differences between partners originate from the following:

  • Disappointment over profits
  • Pressure from too much debt
  • Disputes over the direction of the business
  • Family issues

While some of these may be temporary setbacks, there are problems from which it may be difficult for your partnership to recover, such as stealing or other illegal activity.

Wrongful termination in an at-will world

Your small business is important to you. You likely spent years preparing, learning and saving to create a company where you could be the boss. If everything went according to your plan, you may have hired a few employees and started to make a profit before the first glitch occurred. You needed to fire someone.

Certainly, there was a reason you let the employee go, such as poor job performance, a drop in profits or simply a clash of personalities. Nevertheless, firing someone is never a pleasant experience, and now you may be dealing with unexpected consequences.

Take steps to make the sale of your company go smoothly

After more than 30 years of operating your own accounting firm, you have finally decided to fully retire and sell your practice. This type of transaction can be extremely stressful and complicated. While there is no one thing you can do to make the process easy, there are things you can do to make it go smoothly.

Just like with starting a business, you need a plan when you sell one. An attorney in the New York/New Jersey area can help you minimize risk and maximize the return by protecting your interests so that you can get the best deal possible. From structuring the deal to closing it, proper guidance is essential to ensure that the transaction is successful.

Reasons young entrepreneurs should buy a business, not start one

So you want to be a business owner. It's always been your dream and you're finally ready to start. Thinking that means you have to start from the ground and build your way toward success? You can, but you don't have to. In fact, many experts believe you're best off to buy a company instead. Below are four key reasons why. 

Selling your business? Understand your needs versus your wants

Selling your business is a large endeavor and it can be difficult to itemize everything that must be accomplished as part of the sale. The best way you can make sure that you are meeting the key requirements when selling a business is to separate your needs from your wants.

A clear way to understand the separation of needs and wants is with an example.

3 mistakes to avoid when buying a business

Without a doubt, buying a business can be a very difficult and process complex. Not only do you have to address business issues when buying a corporation, but you also need to deal with legal and employee issues. Fortunately, as long as you're careful and do your homework, buying a business can be very rewarding. Avoid committing these top three most commonly made mistakes when buying a business.

A primer on starting a business in New Jersey

If you are considering starting your own business, you likely already have the drive and ambition to make your business succeed. However, starting a business is much more complicated that simply hanging up a shingle. In addition to forming a sound business plan, and obtaining startup capital, you must address several legal formalities.

Three steps to planning the transition of your business

Let's face it, family businesses are important to the economy. According to Forbes, family businesses are responsible for 60 percent of the jobs in the United States and 80 percent of the new jobs created. It is also estimated that family businesses account for 50 percent of the gross domestic product of this country.

Unfortunately, family businesses also suffer their share of problems, especially when it comes to the continuation of the business, because of the intimate histories and complicated cultures inherent in many of these businesses. As a result, only one-third of them survive to the second generation.

Expanding a business? Here is why you need legal assistance

If you are among the many Americans that own their own businesses, you may be looking to expand it, as the economic situation has improved significantly over the past seven years. However, just as when you were just starting out with your new business, there are legal considerations associated with growing it.

Is your company's framework adequate?

When you started out, you dealt with the legal aspects of business formation such as bylaws, articles of incorporation, partnership agreements and other legal documentation. For businesses that are just getting off the ground, the liability protections and business framework contained within these documents are essential to begin the process of growing.

However, as your business grows, you may be considering acquiring another business, buying out a partner or increasing your protection against liability. If this is the case, it is important to ensure that your business formation documents are adequate for your ambitions. It is therefore important to have a business law attorney review your company's documents and make recommendations on any changes that are needed. 

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Dunn Lambert, LLC
East 80 Route 4 Suite 170
Paramus, NJ 07652

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Dunn Lambert, LLC
1745 Broadway, 17th Floor
New York, NY 10019
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Phone: 201-957-0874
Fax: 201-291-0140
Telephone: 212-768-0700
Fax: 212-519-9804
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