New York Corporate & Securities Law Blog

When should entrepreneurs fire themselves

As rewarding as entrepreneurship can be for small business owners, it can sometimes be isolating and limiting. This is arguably why most entrepreneurs are not successful. However, those who strive for success never do it alone. Instead, they rely on a team of advisors that help them grow not only through the business, but also as people.

This notion is supported by a HuffingtonPost.com report that examines whether entrepreneurs should fire themselves. The uninitiated may think “Why would an entrepreneur fire themselves?” But it makes perfect sense when considered in the context of how a small business grows into a powerful enterprise. 

Will 'Comic-Con' soon become a generic term?

A comic book convention is nirvana for fans of super heroes, science fiction buffs and video game fans. Arguably the most famous convention is the San Diego Comic Convention (also known as Comic-Con). But for those who cannot make the annual trip to California, regional comic book conventions have sprouted up throughout the country.

Of course, some are larger than others, but how is a comic book fan supposed to distinguish between competing Comic-Cons? 

How should I handle the health care deduction for my busienss

Much has been made about the Affordable Care Act and how it may continue to affect how small businesses offer health insurance to their employees. However, some small business owners may be missing out on tax deductions that they can claim for paying insurance premiums through their business. This may be especially important for self-employed individuals.

This post will provide some helpful information on whether premiums should be paid through the business.

New Balance win may be a sign of change in China

If there is one thing that is more valuable than money to an emerging startup, it is the exclusivity of its brand. This is why trademarks are so important in the marketplace. A trademark essentially establishes a secure way to maintain protections against companies who seek to copy a popular mark that has set a company apart from its competitors.

Exclusivity with a mark is critical when selling a product internationally. In China, U.S. companies have routinely lost trademark infringement cases. Last year, Apple lost a suit against a company using its “iPhone” trademark. Drug maker Pfizer also lost multiple cases against companies using its Viagra trademark. The same occurred with Michael Jordan’s brand. 

What entrepreneurs should know before leaving their jobs

If there is a time to turn a “side hustle” into full-time job, it has to be 2017. After all, not only is more startup money available given the proliferation of sources, such money is still relatively inexpensive.   Nevertheless, access to startup capital is not the only hurdle that entrepreneurs will have to clear on the road to success.  

This post will offer some helpful tips for entrepreneurs who aspire to transition from a w-2 job to their own business. 

FAA advised to reconsider seat size rules

If you fly regularly for business, or are considering the purchase of an airline, chances are that seat size and legroom are thing that affect your air travel choices. As the airline industry has evolved, some carriers believe that customers will pay more to have additional leg room or wider seats. This has become especially prevalent among “low cost” carriers such as Jet Blue, Spirit and Frontier Airlines.

Nevertheless, a federal appeals court recently suggested that the Federal Aviation Administration should be able to regulate seat sizes and the number of seats on planes. The decision comes from a challenge raised by the consumer rights group, The Flyers Rights. The group requested that the FAA write rules governing seat size and the distance between seat rows. 

Tips that new business owners won't normally hear

There are many tips and recommendations for small businesses just starting out. Many focus on how not to get in trouble with the federal government by paying taxes correctly or how to protect assets either by incorporating or signing proper non-disclosure agreements.

However, few tips focus on arguably the most important thing for small businesses to be wary of: managing money. Indeed, many entities will offer high interest startup loans but they don’t consider the ramifications against the business from a financial standpoint. Because of this, many startups operate on shoestring budgets. This post will highlight how much of a shoestring your business should consider before taking on more debt.

Business litigation is one way to address unfair salaries

There is no question that hiring practices in the United States have come a long way in the past few generations. Nevertheless, there is room for improvement, especially when it comes to discrepancies between the salaries of men and women. New York City, along with a northeastern state and another large city, recently passed laws to end practices that tend to perpetuate unequal salary offerings. However, pay inequity and other forms of discrimination can still lead to business litigation.

Lawmakers in New York City forbid potential employers from asking about a candidate's salary history. They feel the current salary one makes should have no bearing on the salary offered, even if the work is similar. By asking a candidate's current salary, the potential employer is then likely to offer pay to meet the current salary rather than paying a fair rate for the job the candidate is seeking. This tends to perpetuate low salaries, especially for candidates, like women, who may be earning less than average already.

When is a business deal 'love at first sight?'

Some may say that love at first sight is merely a myth, something to get people to buy expensive gifts for their crushes or to pursue an impromptu relationship. But who says that love at first sight is only limited to just people?

According to a recent abcnews.com report, the recent purchase of grocery retailer Whole Foods by online retailer Amazon.com was a “whirlwind courtship” and “love at first sight.” Whole Foods CEO John Mackey described the deal as such after the $13.7 billion deal was announced. By making the purchase, Amazon seeks to make significant changes in the way consumer purchase their groceries now and in the future. 

How SEC regulations can affect your crowdfunding plans

As the reach of the Internet connects more people to each other, crowdfunding has become a popular model for startup companies to generate money for inception costs. Until recently, supporters would receive small tokens for their generosity, such as t-shirts and hats to even small parts in movies.

Now crowdfunding has evolved into securities offerings where supporters receive monetary benefits for their contributions. This means that these and future gifts through crowdfunding could be governed by SEC regulations. 

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