New York Business Law blog

This blog is inactive. If you would like to read more from the Law Office of Frederic R. Abramson, go to my New York Business Law Blog.

How to achieve a smart start in business

Only one in twenty new businesses will survive to achieve its fifth anniversary. So what will give you the edge in success? It is important to have a smart start. Here are some common challenges faced by today's small business owners:

1. Having the proper attitude. Many people enter into a new business expecting instant success. However, being realistic will allow you to overcome the inevitable up and downs of the business cycle.

2. Having enough capital. Many people decide to go into business without ascertaing the costs involved. Of course, the capital costs in starting a small business differs based on the type of business. For instance, a home based business is usually less expensive to start up than a retail establiishment. You should have at least 6 months of savings available to keep yourself afloat.

3. Knowing your business. This appears to be rather obvious, but you should know everything about your business. If you are planning to open a Swedish-Spanish fusion restaurant, you should be aware of your competitors, the market, trade journals, the food press and industry leaders.

4. Knowledge of basic business principals. Basics may include legal, accounting, bookkeeping and marketing. Should you incorporate your business? Do you need a contract with a key supplier?

So before you start your business, you need to achieve a smart start before entering the lions den.

Words of wisdom for naming your business

An important step in starting your business is naming it. Your name will provide a foundation for every marketing effort you ever launch. If the name that you have chosen is currently being used or trademarked by another company, obviously try a different name. To do otherwise is a recipe for trouble.

A trademark search is a smart investment before officially adapting your name.

Your business needs legal virus protection

Smart Business Planning requires preventing problems and making sure that your business is being protected from potential trouble.

Your computer has the latest anti-virus software, but is your business protected from potentially damaging litigation?

Contact the Law Office of Frederic R. Abramson at 212-233-0666 for a free business tune up.

In Search of a billion in revenue

Is your company in search for a billion in new revenue? The New York Times, in the special small business section on May 1, discusses how the Google's of the world experienced growth:

1. They had a breakthrough value position;
2. They exploited a high growth segment;
3. They secured marquee customers;
4. They build alliances with larger companies;
5. They split management duties, with one executive running day to day operations and the other executive concentrating on building markets.

Bartering

Any thoughts regarding bartering of legal services?

Tort trials fell by 80% from 1985-2003

There has been a vast amount of press regarding the "tort crisis." However, a survey conducted by the Department of Justice has found that tort trials have actually fallen by 80%. more...>

Car rental companies no longer vicariously liable in New York

States are no longer able to hold rental car companies vicariously liable for accidents that occur in their leased cars. more...>

Malpractice rates climbing, the amount insurers paying for claims remain steady

Doctors have been complaining about skyrocketing malpractice rates for years. Their primary scapegoat has been large jury awards. However, a recent study released by the Center for Justice & Democracy has found that even though insurance rates have climbed 120%, money paid on claims have risen only 5.6%. more...>

New rules for Straphangers

Thinking about drinking a cup of coffee on the subway? Perhaps you should wait until you reach your destination. more...>

The Social Purpose of Tort Law

What does "tort reform" mean, and why does it provoke such controversy? more...>

Handicapping the next Supreme Court Justice

Slate reviews the views of the candidates likely to replace Justice Rehnquist.

Update on Federal Tort Reform

After two wins on "legal reform" legislation, the tort reform lobby has taken a pause. Next on their agenda, the "Law Suit Reduction Act" which sanctions lawyers for filing frivolous lawsuits. more...>

Federal Trademark Basics

Looking to file a Federal Trademark? Before contacting my law office, this article, published by the American Bar Association, provides the basics.

Best in class

If studying does not work, why not sue? more...>

How to protect your business from lawsuits

For some key observations on how to protect your business from lawsuits, read this article that contains some quotes from a very good friend of mine, Marshall R. Isaacs.

Blawg of the Day

The Blawg of the Day is Bob Kraft's P.I.S.S.I.D. Its focus is personal injury and social security disability law. Thanks to Ernie the Attorney.

Social Security numbers for Immigrants for sale.

The New York Times reports today that immigrants are being offered social security numbers by expatriates. more...>

Free legal tip of the day - Buy Sell agreements

Don't forget to write a business prenup, formally known as a buy-sell agreement, before putting money in a venture. more...>

Two immigrant stories

As part of the "Class Matters" series, the New York Times focuses today on the plight of two immigrants, one Greek diner owner, one Mexican short order cook. more...>

Site of the day

Are you looking to start up a business? Check out business.gov.

Think tank finds the "tort crisis" overblown

According to a new study by the Economic Policy Institute, the "tort crisis" is overblown. For example, tort lawsuits have actually fallen significantly, despite continuing population growth. more...>

Immigrant success in Math

In one high school, Asian's represent 22 percent of the population, but 94.4 percent of the math club. Why?

Read this before selling a family business

Keep it. Sell it. Liquidate it. These are three alternatives available to owners of closely held businesses. Here is guide about the key issues regarding the sale process.

Legal History Site of the Day

The legal history site of the day is The Avalon Project at Yale University. The site contains a treasure trove of historical documents in law, history and diplomacy. For instance, follow this link to the Camp David Accords.

20,000 new H1-B visa bonus

The USCIS will be implementing 20,000 bonus H1-B visa's for graduates of US graduate degree programs. more...>

Blawg of the Day

The blawg of the day is ... Between Lawyers (thanks to the Blawg Channel). Today, the author's (this is a group blawg) discuss the value of blogging within the legal community.

Reading List

Here is a list of what I am current reading:

Dale Carengie: "How to Win Friends and Influence People"

Thomas L. Friedman: "The World is Flat, A brief history of the 21st Century"

Harold McGee: "On Food and Cooking, The Science and Lure of the Kitchen"

Keith Farrazi: "Never Eat Alone, and Other Secrets of Success, One Relationship at a Time"

Insurer posts record profits

Insurance companies have been calling for tort reform. They state that there is a litigation crisis. Here is a piece of interesting news: St. Pauls/ Travelers Insurance company has posted record profits for the First Quarter. more...>

Stricter immigration reforms on the horizon

Congress is ready to enact a stricter law that would outlaw driver's licenses for illegal aliens and it would make it tougher for immigrants to seek asylum. more...>

The USA is a nation of immigrants. Many (including my ancenstors) have sought refuge here to escape persecution. Unfortunately, in times of "war" we tend to limit immigration because of a perceived security risk. As an immigration attorney, it is my belief that the laws that are currently on the books regarding asylum are sufficient. What is needed to help limit the scope of the security problem that we here in the US is to provide more funding for BCIS so that they can investigate each case properly.

The new law calls require asylum seekers to provide written proof of persecution. This law, as currently drafted, is simplistic, overbroad and narrowminded. During World War II, the Nazi's burned down Jewish shtetls in Eastern Europe, destroying everything. What kind of written proof would one expect such Jewish refugee's to provide? An SS order written on a bialy? How about those escaping the genocide in Darfur? Many of these people are illiterate. What types of written documents are immigation officials expecting?

Perhaps Congress would have acted the asylum law differently if the State of Texas was in fact located in Rwanda and the Hutus were killing White Anglo Saxon Protestants. It is my belief that anyone who is been the victim of persecution has the right to shelter in the United States.

The risk that we have as a nation by enacting such a law is that we are not showing enough interest in the plight of other people. As Dale Carengie said, one of the best ways to influence people is showing that we care about them. This new immigration law is another way of showing the world that we have less interest about their problems and are more interested in our own. This is the blacklash that helped create Bin Laden in the first place.

Immigrant crackdown on Long Island have snared those without a criminal past

Efforts to deport immigrants who are thought to be gang members or sexual predators have snarred those with no criminal record. more...>

Lo-tech businesses are booming

There is a plethora of hype regarding the growth of hi-tech businesses and its effect on the US economy. However, the biggest opportunity for entrepeneurs are mundane ventures that have existed for decades. more...>