Legal Question in Business Law in New York

Re: sole proprietorship

A trademark search is a must. So is an attorney.

Don't be pound foolish now and sorry later.

A sole proprietorship does nothing to limit your liablility. It is the last option anyone would want.

If you wish to discuss this with me privately, please call to schedule a consultation.

I practice in NYC and Long Island.

Re: sole proprietorship

A sole proprietorship allows you to own and control the business. You get the profits but you take the loses. (You would report your business income and expenses on your individual income tax return.) Most importantly, you are personally liable and responsible for debts and other obligations of the business -- becuase you are the business. This means that your personal assets will be at risk. In my opinion this is the most important issue to consider when forming a business. (In NYS, sole-member LLCs are viable business entities that allow profits to pass through to the sole member while providing limited liability to that sole member such as is provided a stockholder in a corporation.)

A sole proprietorship is probably the easiest, fastest and cheapest way to form a business; just obtain the licenses and tax identification numbers that will be required by the federal, state, or local governments.

Regarding a D/B/A, if you will do business under a name that is different from your own, you must register the business name with your local county clerk. (You can find a D/B/A form at most stationary stores.)

It is always important to perform a trademark search and a business name search if a D/B/A is being used. A trademark search is a two-prong test: Is the mark confusingly similar and are the goods/services being sold similar?

If you require further information, please contact my office.