Showing posts from October, 2017

Buying and selling a business: What you don’t know can hurt you!

It seems like every day driving down Route 9 in Freehold NJ, you see one business close and a new business move into its space. This made me think of the legal process involved in selling a business and the liabilities associated with it for the unknowing business owner. If you’re the Seller of the business, hopefully it’s time to make a profit from the hard work you put into building your business. Maybe the business was failing, and this was an opportunity to cure your money problems. If you’re the Buyer of the business, this is a chance to make money in a new business venture. If the business was failing, you have the opportunity to start a new business at bargain basement prices. Like any significant business undertaking, there is a great deal of risk facing both parties if the legal issues are not properly addressed prior to closing on the transaction.

As the Buyer, some of the risks you face are responsibilities for liabilities that only appear in the form of a lawsuit after the…

Legal dangers of employee's text-and-drive habits.

Your employees should not use their cell phones when driving. Working in Freehold New Jersey, it amazes me the amount of times I see people driving with company vans texting and driving. Despite the fact it has been all over the news that there have been a huge number of accidents caused by people texting or holding a cell phone while driving. However, what is really alarming and is not discussed in the news is how this can expose your business and possibly the business owners to incredibly high liability. In addition, the law deems that a person is acting as an employee of a company even if they're using their own car if they are using it for company business. That can even include picking up lunch for all or some of the employees in the office. If the employee gets into a car accident while doing work for the company, the company can be held liable. That liability could be catastrophic to a company and its owners if the person driving causes a major car accident, causes a vehic…