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If you are buying a business, a smooth and seamless transition to new ownership is key to maintaining cash flow and securing the foundation on which to increase market share, add customers and grow revenue. Often a buyer’s focus is on obtaining an agreement that bars a seller from competing with his former business, disclosing […]

Late last year, Senator Loretta Weinberg, (D) Bergen County, introduced a bill that would (a) bar any provision in a settlement agreement that purports to waive a substantive or procedural right or remedy; and (b) prohibit the use of non-disclosure agreements in settlements of sexual harassment claims. That bill died in committee but was re-introduced […]

The purpose of a contract is to set down in writing the rights and obligations of the contracting parties.  What will they do or refrain from doing?  What is the time for performance?  What will each party exchange?  Are there conditions for performance?  What happens if one party or the other fails to perform?  What […]

On December 5, 2017, the US Department of Labor issued a Notice of Proposed Rule Making in which it sought comments from interested parties on a proposal to eliminate a 2011 regulation dealing with tip pooling. Current regulations promulgated under the federal Fair Labor Standards Act, treat tips as the property of tipped employees, and […]

The purpose of a non-compete agreement is to prevent departing employees from unfairly competing with a former employer by making use of confidential or proprietary information of the former employer.  Non-compete agreements may not be used to prevent a former employee from all engagement in the type of work performed for the former employer. Non-compete […]