One of the fundamental decisions that business start-ups need to make is how to raise capital. Start-up companies have many options available to them as they grow. Some of these business formation options include taking on investors, but others allow business owners to retain full ownership over their businesses. Carefully considering how a small New Jersey business will be funded from the beginning of the process ensures that when problems arise, the business will not need to scramble for funds.
As almost everyone knows, people and businesses across the state of New Jersey were affected by Hurricane Sandy in late October and by the subsequent winter storm that followed. These two storms have left a massive wave of destruction in their paths as millions remain without power, gas or food. Much of this destruction has been physical, and obviously a rebuilding period will be necessary. But what might not be as obvious are the contract disputes these storms have likely caused -- especially between insurance companies and covered businesses.One thing that many businesses were sure to do after the two storms hit was to contact their insurance company. However, with two major storms so close to one another it may difficult for the companies to determine what damage was caused by which storm. In many cases, insurance adjusters had not even made it out to inspect damage from Sandy before the nor'easter hit. This can cause litigation over what damage is covered under insurance contracts and what storm caused it. Furthermore, it will mean that businesses will be required to pay two deductibles to be eligible for coverage at all.