Understanding Different Types of Commercial Leases
Understanding the type of lease you are being asked to sign can be the ultimate success or failure of your business. If you want to be sure that the final cost you pay is what you expected going into the deal, take the time to learn about commercial leases. Before getting into the three basic […]
Pursuing a Property Tax Appeal
Welcome to New Jersey, home to one of the highest property tax rates in the nation. What can you, a business owner, do about it? How can you save thousands of dollars per year? The answer is simple. You should pursue a property tax appeal if the tax assessed value is significantly higher than the […]
Promissory Notes and Repaying Loans
Borrowing money can feel good when motivated by the goal of starting your own business. The lingering anxiety belongs to the question of repayment. A business attorney will help you understand the ins and outs of the various repayment plans. Those terms are set when you sign a promissory note.What Is A Promissory Note?A promissory […]
Five Things to Consider Before Buying a Franchise Interest
Know who you are doing business with. Get written documentation. These words of advice hardly qualify as business tips. However, they still underpin the logic behind buying a franchise interest and protecting your investment. The franchisor is who you are doing business with, for example, corporate Dunkin Donuts. A franchise agreement is what you must […]
Eight Things to Consider Before Selling Your Franchise Interest
Selling a franchise is not the same as selling an independent business. When you sell a franchise interest, you are just changing the ownership interest (for example, one Dunkin Donuts store out of the franchise of stores). The new owner and the franchisee must agree on a sale number. The prospective owner must also prove […]
Establish Your Business with an Operating Agreement
You have finally decided to start your own business. Now, it is time to choose a business structure. Many small business owners protect themselves by forming an LLC, or limited liability company. Regardless of which structure is chosen, one key document is necessary to establish the operation’s rules and regulations. It is called an operating […]
An Identity Theft Update
This year marked the tenth anniversary of the passing of New Jersey’s Identity Theft Prevention Act. At the time, the federal government considered identity theft to be the fastest growing financial crime. According to Identity Theft and Phishing, a 2009 report from the NJ Department of Consumer Affairs, a thief steals someone’s identity and open accounts […]
Uncovering the Hidden Costs in Commercial Leasing
A landlord is a landlord. A tenant is a landlord’s source of income. All that is required is a signature. This may sound like oversimplification, but if you are considering moving your home office into a commercial space, the language appearing above that signature is what it all comes down to, for both you and your future landlord. To be […]
Search for a Clause: What to Look for in a Commercial Lease
Once you are up to speed with the terminology and have learned about the fine print, it is a good idea to take a step back and review the common clauses that comprise your average commercial lease. It must be noted, however, that there is really no such thing as a “typical” or “standard” commercial […]
Avoiding the Pitfalls of Commercial Leasing
Signing a commercial lease is how you will procure the space you need to set up your business. To a landlord, that commercial lease is his or her business. In other words, while your mind is on what happens after you sign, the landlord is focused on what happens before you sign. It is in his […]