Family-Owned Businesses
While engaging in a family-owned business can be both financially and emotionally rewarding, it can also present a unique set of challenges. The success of a family-owned business often hinges on the family’s ability to cooperate with each other under stressful conditions. Our Long Island business attorneys understand that family owned businesses reach their furthest potential when each family member utilizes his or her strengths and abilities in the most productive manner possible. However, just as there will always be arguments around the dinner table, there will always be some disagreements or other problems that arise within a family-owned business. The experienced New York and Long Island business attorneys at Bashian & Papantoniou P.C. work with families to assist them in overcoming any legal obstacles that may arise and allow families to focus on what they do best, running their business.
Serving the entire metropolitan area, our business lawyers begin representing family owned businesses from step one. We explain the differences between the various types of business entities available to them in the State of New York. As experienced Long Island attorneys, we understand the intricacies and issues that may arise in forming a legal relationship with family and close friends. Our Long Island lawyers provide legal services for all types of family owned businesses, including:
- Limited Liability Companies;
- Professional Limited Liability Companies
- Partnerships;
- Limited Partnerships;
- Corporations (both S and C corporations); and
- Sole Proprietorships.
After thoroughly explaining the pros and cons of each type of business entity available in New York State, our business lawyers help our clients choose the business structure best suited for their particular set of circumstances and future goals. Once the choice is made, we complete the business formation process in a timely and cost-effective manner, including filing all the necessary forms with the New York Department of State. Our Long Island attorneys will then draft the appropriate initial corporate documents, including:
- Shareholder agreements;
- Operating agreements;
- Partnership agreements;
- By-laws;
- Company rules, regulations and policies;
- Manager agreements; and
- Employee agreements.
Our New York City and Long Island attorneys will also assist family-owned businesses plan their first corporate meetings and draft the appropriate minutes for such meetings. Once the formation of your family-owned business is complete, we continue to work with you to overcome any legal obstacles that may arise to ensure that your family-owned business operates smoothly.
As experienced New York trial lawyers, we understand that no matter how well family members get along, operating a family-owned business can create disagreements and business disputes that intensify quickly. The New York trial attorneys at Bashian & Papantoniou P.C. understand that commercial litigation can be extremely time-consuming, as well as financially and emotionally taxing. In fighting to obtain the best possible outcome for our clients, we first attempt to settle business disputes outside of court. We help create and propose amicable resolutions to disputes, viewing litigation only as a last possible option when a satisfactory pre-trial resolution is not obtainable.
Should litigation become necessary, we consult with our clients to ensure they fully understand each step of the litigation process. Our New York trial lawyers are experienced in representing family business owners from all backgrounds and walks of life in commercial litigation. We are experienced in both asserting and defending against all types claims that may arise in the context of a family owned business including, but not limited to, claims of breach of fiduciary duties, corporate waste, as well as those involving accounting issues or corporate dissolution claims. Our New York trial lawyers are experts in navigating the court system to ensure that your goals are achieved in the most efficient manner possible.