Richard Waxman – Page 3

2013 – Selling or Buying a Business, Part III

This is the third of three Newsletters that address the process of buying or selling a privately held business. The first two installments were: I. Pre-Contract Considerations II. The Contract of Sale PART III: THE CLOSING AND POST-CLOSING CONSIDERATIONS In this Newsletter we address the following subjects concerning the process of closing a purchase/sale transaction…

2013 – When an Employee Owes Money to Your Company

Collection Efforts under the New York Labor Law Until recently, New York law[1] prohibited employers from making deductions from an employee’s wages, other than: (1) deductions required by law or (2) deductions that are expressly authorized by the employee in writing and that are for “the benefit of the employee.” The New York State Department…

2012 – Risk Management for Website Owners

I. Why a Website Needs “Terms of Service.[1]” Websites may be broken down into two basic types: (1) static and (2) interactive. Static websites are those where “users” can browse the website for information, but have no other interaction with the website or its owner. However, interactive websites enable users to interact with the website…

2012 – Wage Notification Requirements (January 2012 Update)

At this late date, most New York employers and their advisors are aware of the increased notice and record keeping requirements established by the New York Wage Theft Protection Act of 2010 (WTPA) which first became effective on April 9, 2011. Employers and advisors should also be aware that an important component of the WTPA…

2011 – Maintaining the Corporate Veil

I. Limited Liability. Most business owners believe that their personal wealth is safe from business creditors when they conduct their business through a corporation or a limited liability company (LLC). Both types of companies can, when properly used, protect the owners and/or related companies from claims asserted by a company’s creditors. This protection is particularly…

2011 – Restrictive Covenants: An Effective Way To Prevent Employees From Appropriating Your Business

RESTRICTIVE COVENANTS: How to Prevent the Employees from Appropriating Your Business. I. The Types of Restrictive Covenants. There are three basic types of Restrictive Covenants that an employer may use to safeguard against employees appropriating the company’s customers and other valuable assets. To obtain the greatest benefit from this Newsletter, one must understand and distinguish…

2009 – Independent Contractor vs Employee

Employee or Independent Contractor…the Pitfalls and What an Employer May do to Avoid Them! Why is this Issue Significant to Employers?The basic issue is whether a company may treat a worker as an independent contractor or as an employee. The determination becomes significant when a government agency or a court disagrees with the company’s treatment…

2009 – Downsizing

In this challenging economy every employer must give serious consideration to the painful reality of reducing the size of its work force. In some cases this will involve letting go a few employees. Other situations will require a full scale termination of a large number or percentage of employees. These events are often referred to…

2008 – Owners Agreements

Most every business owner will acknowledge that his or her equity in that business is a valuable and important asset. Many cannot honestly tell you, however, that they regularly evaluate and take active steps to legally protect the ownership of that asset. A well planned and current agreement among the owners is a most important…

2008 – Contract Requirements for Commissioned Salespeople

Several months have passed since the effective date of a new law[1] that requires companies to take action to document the employment terms of their “commission salespersons.” The New Requirements This law establishes the following requirements for companies that employ commission salespersons in New York[2]: the employment terms must be stated in writing, the writing…