Purchasing a business can be a rewarding venture, but it also carries risks. To make an informed decision, potential buyers must conduct thorough due diligence. This process involves evaluating several key areas of the business to avoid costly surprises down the line....
Business Law Professionals
Business Formation
Recognizing when your business partner may want out
Running a business with a partner can be an exciting journey filled with shared goals and mutual support. However, you should remain attentive to changing dynamics in your partnership, as red flags can appear that signal your partner wants to end your arrangement....
Can a partnership agreement prevent disputes?
Many businesses break up because the business partners get into a dispute that they cannot resolve. They may attempt to do so for some time, but they can’t come to a compromise. Eventually, they dissolve the business entirely – or one business partner decides to leave...
Legal mistakes startup business owners need to avoid
Starting a new business is exciting. However, it comes with numerous challenges and risks, especially in the legal realm. Many entrepreneurs make avoidable legal mistakes that can lead to costly consequences down the line. Here are a few mistakes you should avoid....
What should you look for in a potential business partner?
You may decide that you want to become a business owner, but you’re more interested in starting a company with someone else than doing it on your own. You’re looking for a business partner who can support this process and help you develop your brand identity. As such,...
Understanding the different business entities
One of the first decisions you make as a business owner is to determine how you want to register your business. There are four main types of business entities, each with advantages and disadvantages. Sole proprietorships A sole proprietor is, as the name implies, the...
Understanding the different types of partnerships
When starting a new business project, you must determine what type of business you are forming. If you plan to own and operate your business with another person, you will generally form a partnership. Not all partnerships are the same. There are three different types...
Did you form an accidental partnership?
An idea for a new business can hit you at any time. You might be chatting about the future with your friends or tinkering in your garage when you have the idea that changes your life. As you begin building your new company, the people you surround yourself with are...
Thinking of starting a business after retirement?
Like many in New Jersey and elsewhere, you may be looking forward to retirement. In fact, you may have spent most of your career planning for the day when you would clean out your desk or locker and say goodbye to your job forever. Lying on a beach, sleeping late or...
Take your time when starting a second small business
Starting your own New Jersey business can result in a mixture of excitement and terror. You may have little to no idea what to expect, but you know you are taking a heavy risk. Many first-time business owners are not successful, so you may have been pleasantly...