When you purchase a New York Business, when the deal is finalized, there will be a lot of paperwork. The paperwork’s important contents will be all the documents that will transfer ownership of the New York business (and its assets) to the new owner, the Bill of Sale. Every New York business will have many […]
Read more...Category: Purchase or Sale of Businesses
Can Punitive Damages be Awarded in a Breach of a Commercial Contract Case?
Generally, under New York law, that answer is no; punitive damages are not recoverable in business-to-business litigation involving breach of contract claims. In brief, compensatory damages are the type of damages that can be recovered for breach of contract. Compensatory damages compensate a party for a breach of the relevant contract. The purpose of awarding […]
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Seminar on the Purchase and Sale of Businesses
On Monday, April 2nd, 2018, I will be teaching a seminar on the purchase and sale of businesses for NYC Business Solutions, a New York agency designed to help small business owners. A brief description of the topics covered is below: Buying and Selling a Business: From Valuation to Closing Appraisal, Negotiations, and the Role […]
Read more...Buying/Selling Restaurants: Seminar for CPAs
Do you have Clients that are buying/selling restaurants? Glenn D. Wright of the Wright Law Firm, PC, will be a panelist at the New York Society of Certified Public Accountants (NYSSCPA) Hospitality & Restaurant Committee Breakfast Technical Session 2016 on January 5, 2017, at 8:30 a.m. The seminar’s target audiences are legal, financial, and accounting […]
Read more...How to Pay for the Purchase of a Business
You have found your dream business venture to invest in and decided to buy. Now you have to figure out you are going to pay for the purchase of a business. There are many ways to pay for a new business, here are some of the most common: having cash at closing, seller financing, or […]
Read more...Small Business Purchases & Sales Spike
BizBuySell.com, a business transaction listing website, reports an increase in small business purchases & sales. In fact, it states that more are on the market than at any time in the last several years. In addition, the average sales price business owners are getting has risen. Most analysts attribute this in part to Baby Boomers […]
Read more...Seminar on Purchase & Sale of Restaurants
Glenn Wright of the Wright Law Firm, PC, will be a panelist at the New York Society of Certified Public Accountants (NYSSCPA) Hospitality & Restaurant Committee Breakfast Technical Session 2015 on December 3, 2015, at 8:30 a.m. The focus will be on the Purchase and Sale of Restaurants Certified Public Accountants seeking Specialized Knowledge (NYSED) […]
Read more...New York City Liquor License “Transfers” Not so Simple
The New York Times recently reported on the free-wheeling business culture in Detroit, where regulation is lax, and real estate is cheap. In particular, it told how a restaurateur purchased his liquor license online for $18,000 through a Craigslist advertisement. Suspicious of this claim, the Bloomberg Businessweek explored further. As it turned out, the reporter […]
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