Business & Corporate
A BIG LOTS Chapter 11 Lesson: Caution Needed When Doing Business with Chapter 11 Debtors
Posted in Bankruptcy & Creditor's Rights, Business & Corporate, CRE Legal Lens Newsletter, Real Estate
Vendors, landlords, and other creditors often feel a sense of security when doing business with Chapter 11 debtors. The Bankruptcy Code, and even court orders entered at the outset of a bankruptcy case, seemingly provide a myriad of protections to those engaging in business with a company reorganizing under Chapter… Continue reading
Adverse Possession: Policing Your Property Boundaries – Owners Beware
Posted in Business & Commercial Law, Business & Corporate, CRE Legal Lens Newsletter, Real Estate, Retail & Industrial Real Estate
Retail, commercial, and industrial property owners need to be diligent about policing their property boundary lines to avoid losing valuable property rights to an encroaching neighbor. The doctrine of adverse possession opens the door for an encroaching neighbor to make a claim of ownership of a neighbor’s property under certain… Continue reading
FTC Bans Employment Non-Competes Nationwide
Posted in Business & Commercial Law, Business & Corporate, Employment Law, Franchise, Legal Updates
After a year of uncertainty, the FTC has issued a Final Rule banning employment non-competes nationwide. The Commission has determined that non-competes themselves constitute an unfair method of competition in violation of Section 5 of the FTC Act. Citing to wage suppression, stifling innovation, and inhibiting start-up creation as factors,… Continue reading
Don’t Let Your LLC Expire: LLC Owners Should Check Formation Documents to Confirm Perpetual Duration
Posted in Business & Commercial Law, Business & Corporate
When the New Jersey Limited Liability Company Act originally went into effect in January 1994, the Internal Revenue Service required that a limited liability company have at least a majority of the characteristics of a partnership in order to be taxed as a partnership rather than a corporation. The IRS… Continue reading
The Corporate Transparency Act and Reporting Requirements
Posted in Business & Commercial Law, Business & Corporate
Current as of 1/2/2024 On January 1, 2024, the Corporate Transparency Act, 33 U.S.C. §5336, (the “CTA”) took effect and strict compliance must be met by all entities and individuals to which it applies. The CTA adds reporting requirements for particular beneficial owners in various entities. The CTA’s primary goal… Continue reading
McDonald’s Closure of Russian Locations Spotlights the Proper Way to Franchise Internationally
Posted in Business & Corporate, Franchise
Recently, McDonald’s has been receiving much attention for its closure of restaurants in Russia due to Russia’s aggression into Ukraine. As part of the coverage, news outlets have been reporting on some of the underlying infrastructure McDonald’s invested in as part of its efforts to expand into Russia. As noted in… Continue reading
New York Commercial Finance Disclosure Law
Posted in Business & Corporate
On December 23, 2020, then Governor Andrew Cuomo signed into law NY CLS Fin Serv §§ 801-812 (the “Disclosure Law”) with the intended purpose of “requiring certain providers that extend specific terms of commercial financing to a recipient to disclose certain information about the offer to the recipient.” Although the… Continue reading
FTC Issues Penalty Offenses Concerning Money Making Opportunities to Hundreds of Franchise Companies
Posted in Business & Corporate, Franchise
The Federal Trade Commission (“FTC”) has kept itself busy as of late, issuing a series of notices to over 1,000 businesses (many of them franchise companies) advising them that they could face civil penalties for conduct that the FTC has deemed unlawful. The Notice of Penalty Offenses Concerning Money-Making Opportunities… Continue reading
Appellate Division Rejects Notion That Members Can Simply Assent and Not Agree to the Terms of a Newly Drafted Operating Agreement
Posted in Business & Corporate, Litigation
On May 26, 2021, the Superior Court of New Jersey, Appellate Division issued an important decision in Premier Physician Network, LLC v. Robert Maro, Jr., M.D., et al, (Docket No. A-1152-20) concerning the governance of New Jersey limited liability companies (LLC). The issue before the Court was whether members of… Continue reading
Phase 3 of NJEDA Small Businesses Emergency Assistance Grant Program
Posted in Business & Corporate
On October 14, 2020, the New Jersey Economic Development Authority (“NJEDA”) announced Phase 3 of the NJEDA’s Small Business Emergency Assistance Grant Program. Pre-registration for eligible businesses for Phase 3 funding opens TODAY (October 19, 2020) and can be done on NJEDA.com.
