In June, the Federal Aviation Administration (FAA) released its operational rules for the commercial use of drones, also known as unmanned aircraft (UAS). These rules provide clarity for businesses who may be contemplating the use of drones for commercial purposes. Perhaps the most well-publicized intended use for drones came from Amazon, the online retail giant. Amazon proposed using drones for…
Many businesses maintain an industry advantage through control and utilization of trade secrets. Be it a formula, a design, or a process, trade secrets can provide advantages over the competition. Not surprisingly, trade secret misappropriation is a serious concern for many businesses. Until recently, it’s been state law at the forefront of regulating and protecting these highly sensitive forms of…
No doubt you’ve heard of Copyrights and Trademarks. You see copyrights in books, on the web, and throughout different media. You’ve also seen trademarks and you may be wondering how those relate to intellectual property and why you aren’t seeing a copyright instead. Copyrights and Trademarks are used to protect intellectual property, but the way they are used varies according…
When people think of businesses, chances are they think of either corporations or sole proprietorships. But there are many different types of companies and company structures available for the business owner. What type depends a lot on what may make the most sense for you. Let’s look at what’s available under New York laws. Sole Proprietorship Sole proprietorships are…
With every new year comes new laws that go into effect in New York. Some of these laws will affect businesses, so it’s important to know what laws affect you. Here is a rundown of things you can expect in 2016. Death and Taxes We all know that we can rely on death and taxes, but the tax side is…
As of January 1, 2016, covered employers in New York City are required to offer commuter benefits to certain full-time employees. Commuter benefits enable employees to purchase eligible transit on a pre-tax basis. This pre-tax deduction benefits both employers and employees by reducing taxes to be paid. What Employers are Covered by the Law? Both for-profit and not-for-profit employers with…
On October 30, 2015, the US Securities and Exchange Commission approved rules to allow companies to use crowdfunding to offer and sell securities. This is what is called regulation crowdfunding, and it has certain rules in place that allow investors and companies to benefit under the law. What is Regulation Crowdfunding Exactly? No doubt you have heard of crowdfunding. If…
Preemptive rights give the incorporators of New York corporations the opportunity to protect shareholders from dilution in the event additional shares are issued in the future. Unlike most states, preemptive rights are not default rights and should be explicitly included in the certificate of incorporation if the incorporators want the rights to apply to all shareholders. In order to allow…
After forming a limited liability corporation (LLC) in the state of New York, the entity must publish two separate public notices of their formation within 120 days. These publications need to take place in two different general circulation newspapers, one daily-circulation and one weekly-circulation, that are both published in the county of the LLC’s origin, as directed by the…
Disputes with vendors, employees or customers are inevitable for most businesses. However, litigation for resolving such disputes can be both time-consuming and costly, resulting in time spent in court rather than in the office. As a result, most businesses seek alternative solutions such as arbitration and mediation. Besides consuming less time and being less expensive, placing a dispute in arbitration…