Are you thinking of selling your business? If your business is incorporated, then one of the first issues that you will have to consider is whether you should sell the assets of the business (both tangible and intangible) or the shares of the corporation that operates the business. The decision to pursue a stock sale…
Non-compete agreements can offer valuable protection to an employer’s business interests. They are among the 10 items employers should consider including in their employee hiring packages. These agreements provide that “one party (usually an employee) will not enter into or start a similar profession or trade in competition against another party (usually the employer).” This…
As you are aware, federal changes to wage and hour laws continue to be on hold. However, New York State has enacted a number of new laws that employers must comply with in 2017. Exemption Status and Wage Increases In May 2016, the Federal Department of Labor (“DOL”) issued new rules regarding the threshold “white…
If you are planning to sell your business, there are several steps you should take to make sure your corporate house is in order and get your company ready for sale. If you don’t prepare ahead of time, you risk significant delays in closing the transaction and even losing a potential buyer. Here are a…
Employers need to prepare for two big changes going into effect next month. The new rules for determining whether an employee is “exempt” from overtime pay and increases in minimum hourly wages will have a significant impact on businesses. Here’s what you need to know: Increase in Federal Exemption Status Effective December 1, 2016, the…
A significant portion of successful companies on Long Island are closely-held family businesses. As these companies transition to the next generation, they are facing a new employment law landscape which poses additional challenges. In many cases, the older and younger generations don’t agree on how to change employment practices to avoid liability. The key to…
Many employers hire high school or college students, or recent graduates as interns. The internship model is simple: the employer gives the intern experience, a good reference and something valuable on their resume, and in exchange, the intern provides some service to the employer that enhances its business. In most instances, the intern is either…
As of June 27, 2016, commercial property owners, landlords and tenants are required to comply with legislation regarding carbon monoxide detectors. For those who don’t have the mandated detection equipment, it’s time to look at your lease agreement to determine who is responsible for compliance with the law. Non-compliance can result in civil, criminal or…
