We’ve written about Detroit’s bankruptcy on our blog in the past. Back in December of 2013, Judge Steven Rhodes catapulted the Motor City into national headlines when he announced he would allow Detroit to file for Chapter 9 bankruptcy. The announcement of the biggest municipal bankruptcy in the nation’s history stunned the press and public alike, and left Detroiters with a mixed bag of emotions. On one hand, the move inspired hope that a fresh start and a chance to heal would be attainable at last — but on the other, it also led to widespread anxiety regarding the thousands of pensions hanging precariously in the balance. Since then, four tumultuous months have passed. Is Detroit’s bankruptcy making progress?
One of the most fundamental and important questions new business owners must ask themselves is how the business will be structured. While numerous options for legal structures are available for entrepreneurs to choose between, what may be optimal for one entity could prove disastrous for another. At the end of the day, the formal structure which is best for your venture depends heavily upon your business’ unique objectives. In the past, our three-part blog series “Which Business Structure is Right for Your Company?” has gone over the merits and drawbacks of corporations and partnerships. In the third and final installment, our business attorneys evaluate the pros and cons of registering your business as a Limited Liability Company, or LLC.
A few weeks ago, we wrote a blog post about measurable factors that affect the divorce rate. We found that variables like age, income level, and educational degree have a significant statistical impact on the national divorce rate. In a nutshell, the conclusion among divorce experts was that the older, wealthier, and more educated you are at the time you get married, the more likely your marriage is to pass the test of time. On the other hand, the younger, less affluent, and less formally educated you are, the more likely you are to end up filing for divorce later down the road.
In our last post about divorce rates, we focused on how “positive” factors drive marital success. This time around, our New Jersey divorce attorneys are taking a closer look at how and why “negative” factors have the opposite effect. In particular, we’ll examine the documented phenomenon of marriage and age, and why divorce rates increase if you’re under 25. Continue reading
Last month, we wrote a blog post launching a three-part series about the merits and drawbacks of the various legal structures that new business owners have to choose from. We began by examining the pros and cons of the corporation, and in this installment, our New Jersey business lawyers will be taking a look at another major commercial structure: the partnership.
Divorce has become an increasingly prevalent part of American society. Until the latter half of the twentieth century, divorce was considered scandalous and taboo, a dirty secret to be swept under the rug — or better yet, avoided at all costs. As the years passed, however, divorce gradually evolved into an almost casual fact of American life. Vague statistics commonly cite the “fact” that “50% of all marriages end in divorce,” and Generation X- and Y-ers shrug nonchalantly at a social institution their grandparents would have only whispered about behind closed doors. But how many people really do get divorced, and what factors affect the divorce rate? In this entry, our New Jersey divorce attorneys explore divorce trends and contributing causes over the years.
Like embarking on a marriage or moving to a new city, launching a new business is one of life’s greatest and most exciting experiences. If your efforts are successful, you’ll be profiting from a line of work that you love, with the added bonus of being able to control your company’s culture, policy, and workflow. The appeal of creating a corporation, partnership, or LLC is obvious, and with job opportunities scarce in today’s struggling economy, more and more Americans are trying their hands at launching their own start-ups. According to Census data, approximately 543,000 new businesses are launched in the United States on a monthly basis. Multiply that by twelve, and you have a rough average of 6,516,000 new businesses per year.
It goes without saying that, as you begin in your path toward starting a new company, there are many questions you will have to answer. How many employees are you going to hire? Who is your company’s target audience? Will you be an exclusively digital business, or will you operate a brick-and-mortar location? All of these questions are important, and all must be answered sooner rather than later. However, there is one basic, overarching question which takes precedence over the others, because it impacts virtually every aspect of your operation, particularly where finances are concerned: which business structure is right for your company? In the first installment of this blog series, we’ll be examining the corporation.
The business jungle can be difficult to navigate. In the nonstop battery of contracts and paperwork, emails and meetings, sales and purchases, hirings and firings, there are virtually endless opportunities for owners and employees alike to inadvertently damage the companies they work so hard to keep afloat. With all the effort you’ve put into nurturing your enterprise, the last thing you want to do is hurt (or even undo) your success by making an avoidable mistake. However, you can’t hope to avoid mistakes if you don’t know how recognize them first. To that end, we’ve compiled this list of the four worst business blunders to avoid. No matter what your company does, how many employees you staff, or what your professional mission may be, always take care to steer clear of these business mistakes.
If a divorced couple’s child allegedly commits a crime, one parent may wonder what influence the actions or inaction of the other parent had on the incident. If one parent feels that the other parent is responsible for the crime committed by the child, they may even decide to initiate litigation. Feeling financially victimized by a five-figure robbery purportedly committed by his own son, father John Paleski opened a lawsuit against mother Joanna Cali on the basis of parental negligence in 2010. But in a recent ruling, a New Jersey appeals court has dismissed the case, saying that no laws were actually broken by Cali.
After getting a root canal and waiting in line at the DMV, bankruptcy suffers from one of the worst reputations around. Many people think that when you file for bankruptcy, your financial life is over. It’s a common, stubborn misconception that after a bankruptcy, you’ll never be able to rebuild your credit, take out a loan, buy another car or another home, or be a financial success in general. In fact, this couldn’t be further from the truth. While it’s true that you do need to be proactive about monitoring your financial habits following a consumer bankruptcy discharge, if you put in the effort to make your bill and credit card payments in full and on time, you can rebuild good credit, good relationships with lenders, and a good financial life. But don’t take our word for it: you can see the proof in these stories of seven celebrities who beat bankruptcy.
Major lawsuits are always popular news fodder, and when big businesses lock horns, the media frenzy escalates to an even higher degree of intensity. When a large and well-known company finds itself confronted by another company’s claims, the fate of popular and long-standing business empires — and millions or even billions of dollars — hangs in the balance. In this entry, we’ve compiled five big business battles.