Manhattan Bankruptcy Law Blog

Court to company: Do more than just say it's a trade secret

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Litigation on Friday, March 22, 2019.

Some scenarios keep business principals in New York and elsewhere awake at night. We note one of them on our website at the established Manhattan commercial law firm of Rich Michaelson Magaliff. We cite concerns linked with "having a departing employee become a competitive threat and use knowledge of the business's trade secrets against it."

That is a harrowing prospect. And when it actually plays out, the resulting harm it causes is often catastrophic. Competitive advantage can be lost. Proprietary pricing formulae can be compromised. Technological processes can be leaked.

NYC would-be law on paid time off both lauded, challenged

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, March 15, 2019.

“The reality of it is not whether or not we want to give it – it’s whether we can give it.”

So says the owner of a small business in Brooklyn responding to the as-yet uncertain fate of a bill being considered by the New York City Council. The proposed legislation seeks to mandate paid time off for all urban workers in select business realms. Those include enterprises in the retail, hotel and food industries that have more than five workers.

Challenge yet opportunity in national mall, retail space shakeup

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, March 8, 2019.

They're not necessarily dying. In many cases, their apparent flailing is more about evolution and the opportunity to reemerge in a stronger and more dynamic way in the future.

We're talking malls here, specifically the rather sudden and ongoing disappearance of brick-and-mortar retailers that have long been mainstays in malls in New York and across the country. The term "retail apocalypse" has been used to spotlight the phenomenon of shuttered shops. It has been frequently accompanied by a narrative predicting a collapse of the mall model as generations of Americans know it.

Securitization of accounts receivable: What is that?

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, March 1, 2019.

Following is a hypothetical that is actually a commonplace reality for some businesses in New York and nationally. It often poses both a challenge and corresponding opportunity for select entities.

Say that your business has a strong need for immediate cash infusion. Maybe payment obligations to some creditors are imminently due. Perhaps an exciting expansion opportunity has emerged, but a considerable amount of money not immediately on hand is required to exploit it. Many other scenarios might similarly spotlight the need to get cash quickly.

“Glittering prize” ultimately lacks in luster: NYC Amazon deal nixed

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, February 22, 2019.

That didn’t take long, did it?

There are reconsidered notions and altered adjustments in American corporate life of life, of course, and then there are sheer reversals that can flatly stun business principals.

Spotlight on M&A planning, successful strategies

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, February 15, 2019.

A New York company contemplating a merger with or acquisition of another business can anticipate both challenge and, potentially, great opportunity.

M&A transactional activity marks a key development for any commercial entity, regardless of its size and type. Merging with or acquiring a new partner obviously entails an exacting and timely consideration of many preparatory matters.

What factors materially contribute to merger/acquisition success?

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Saturday, February 9, 2019.

Maybe your company's leadership team has given some thought to the idea of merging with or acquiring another business. You might be leaning toward a conclusion that your enterprise has hit a rut and must proactively take some rather dramatic steps to ensure continued viability and profits.

That could be precisely the direction you need to take.

Common business mistakes to avoid

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP on Saturday, February 9, 2019.

Business owners in New York face numerous challenges. Every business will face a problem at some point. These issues often require unique solutions tailored to fit the needs of their company. As a business owner, you should have a plan drafted to help you address and resolve problems as they arise.

Understanding the most common mistakes can help make sure your plan is right for your company before it’s too late. Here are a few of the most common mistakes business owners run into and what you can do to protect your business.

Steady procession of Chapter 11 retailers continues

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in business & commercial bankruptcy on Friday, February 1, 2019.

Toys 'R Us. Sears. David's Bridal. Bon-Ton. Radio Shack.

This is but small group of scores of major American retailers that have filed for Chapter 11 commercial bankruptcy recently or are reportedly considering that restructuring move.

Compelling reasons why NYC is unparalleled venue for new businesses

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, January 25, 2019.

When it comes to using New York City as a launching pad for starting a new business and makingit profitable, "the pros outweigh the cons." And not just by a little bit.

So say members of the entrepreneurial Forbes New York Business Council in a recent article extolling the metro's virtues as the preeminent venue for the establishment of virtually any kind of commercial enterprise. And, obviously, those virtues similarly apply for established commercial entities ranging from mid-market companies to the nation's largest conglomerates.

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