Some people refer to it as the City of Dreams. The Big Apple. The Melting Pot. The Capital of the World. Or the City that Never Sleeps. Regardless of the chosen alias or nickname, there is one universal truth about New York, New York. That is—that it sure isn’t cheap! In fact, some would say that it’s outrageously expensive! So for all the accolades and attractions that have rightfully earned the city its share of global admirers, there exists a rather large barricade for those wishing to experience the city. A former candidate for mayor in New York City ran under the appropriately coined political party known as—“The rent is TOO damn high.”[i] The average rent for an apartment in NYC? $3,017 a month.[ii] The average cost of purchasing a Manhattan apartment? $1.425 million.[iii] The average cost of a hotel stay in the city? A … Read the rest
On May 25, 2012 Space Exploration Technologies Corp. (commonly referred to as “SpaceX”) made history, with its Dragon capsule becoming the first private spacecraft to dock with and supply the International Space Station (ISS).[i] Though the capsule was unmanned, the event marked an important milestone in human spaceflight. Since then, SpaceX has made two more flights to the ISS as part of its Commercial Resupply Services (CRS) contract with NASA.[ii] On September 29, 2013, Orbital Sciences Corporation (“Orbital”) docked its Cygnus spacecraft with the ISS, becoming the second private company to do so.[iii] Like SpaceX, Orbital will make additional supply flights to the space station in connection with the CRS program.[iv] Despite accomplishing a similar task as a part of the same program, the two companies represent vastly different approaches. While Orbital represents a more traditional approach in the space industry, SpaceX provides a vision for … Read the rest
Bolivians, mainly members of affected indigenous groups, protested the Brazilian construction company OAS’s project to build a road through a remote Bolivian indigenous territory. Meanwhile, citizens of Argentina, Paraguay, and Guyana also worry about Brazil exerting influence across their borders. These neighboring countries are not as large or as wealthy as Brazil. Additionally, Brazilian-run businesses have been buying and building on significant portions of land in those neighboring countries. Given that “big business, foreign investment, a huge consumer appetite, and the prospects of oil” dominate Brazil’s booming economy it is easy to overlook the fact that Brazil is surging ahead as an entrepreneurial leader.
The spirit of entrepreneurship is alive and well in Brazil. Luiz Carlos Barboza, technical director of the Brazilian Micro-Enterprise and Small Business Support Service (SEBRAE), reports that the increase of new companies … Read the rest
Although Turkey is often considered an emerging market, and indeed has many positive attributes that make it an attractive place to invest and do business, it is not a hotbed of entrepreneurship; and until it receives more governmental and societal support, it will not be for quite some time. In this country, population 75,705,147, there is a tremendous amount of capital and market potential, but there are many obstacles to attracting investment and opportunities for entrepreneurship. That said, there are also enormous possibilities for entrepreneurs in Turkey, provided that some of the country’s issues improve.
Turkey has a combination of economic growth and political stability that makes it an attractive place to do business. In 2010, mergers and acquisitions involving Turkish assets reached $25.6 billion, up from $1.1 billion a decade ago. Additionally, Turkey has begun pushing to privatize formerly state-owned industries, especially energy and telecommunications. Other state enterprises, such as … Read the rest
Those who have hailed a taxi or used public transportation can attest to the downsides of urban transportation including dirtiness, crowdedness, and unreliability. Since its founding in 2010, San Francisco-based startup Uber has aimed to appease the unsatisfied market of urban dwellers that desire easier, cleaner, more dependable transportation than has been available. Uber operates as “your on-demand personal driver” allowing users to hire and pay the nearest of the company’s “sleek black cars” (think Lincoln Towncar) as a chauffer through the users’ mobile phones. Unsurprisingly, Uber has clashed with regulators, cabbies, and others who claim that Uber is skirting existing regulations that protect customers. Cities including Chicago, Washington, D.C., and New York City have proposed or threatened to propose regulations that would effectively run Uber out of their respective towns. In addition, cab drivers in several cities have filed class action suits alleging that the company is engaging … Read the rest
“The sacred rights of property are to be guarded at every point. I call them sacred, because, if they are unprotected, all other rights become worthless or visionary.” Supreme Court Justice Joseph Story, 1852.
Security in ones’ property has been a fundamental tenant of our society since its inception. The Fifth Amendment enumerates this vital right and has served as a refuge against the government unjustly interfering with individual property rights for centuries. But, as judicial interpretation develops over time, a startling trend has emerged that could profoundly shape the future of the taking of private lands by the government. The landmark case of Kelo v. City of New London marked a radical shift in what could be construed as a legitimate taking based on a state’s police power. (1) This ruling has resulted in many states drafting new legislation in an attempt to temper the controversial ruling. (2) … Read the rest
Someone might view the economic crisis times as the best period to broaden one’s business horizons and invest into a new market. The fast growing markets such as China, Brazil, India and to some extent Russia are waiting for new investors. Russia, having more than 140 million inhabitants, i.e. potential consumers, and abundant natural resources remains mostly neglected by investors in many business fields. For decades Russian market was viewed as not a place for those faint-of-heart. Now the growth of political stability and positive developments in legislation make the investment less risky and more attractive. Nevertheless, the still existing differences between local and internationally recognized legislative frameworks and court practices make investors wonder if there is any possibility to opt out of the Russian legal rules.
This article will explore the reasons behind Russian corporate norms that explain the inflexibility of current legislation and court practice and … Read the rest
In today's economic climate, the excitement of finding a new job
can be overwhelming. Additionally, In the rush of starting work, it is
easy to skim the fine print of a contract without fully understanding
its terms. Non-compete agreements in employment contracts can cause
much unnecessary hardship on an individual once that individual
chooses to switch jobs. Additionally, while it may seem unintuitive
that an individual cannot use skills learned at one job to advance his
career at another job, many companies rely on non-compete clauses to
limit just that. This article will discuss non-compete agreements
generally, the history of non-compete agreements and the legal
standards state courts use in examining non-compete agreements. It will
then discuss how to enforce and contest non-compete agreements.
Finally, it will conclude by giving advice for the employer or employee
who is unsure about how to approach a non-compete agreement.
II. Non-Compete … Read the rest
Anyone who has considered starting a new business can attest to the
excitement that comes along with being one's own boss, setting one's
own hours, and turning a personal dream into reality. However, once the
initial thrill wears off, the daunting task of ensuring enough
preliminary funding and finding continued financing for the business
can quickly turn this dream into a nightmare. This article will discuss
the ways in which a small business can obtain initial funding and
continued financing. First, it will stress the importance of creating a
substantial business plan to which potential investors and sources of
funding can look to learn about the business. Second, it will discuss
debt options for funding and financing a business. Third, it will
discuss equity options for funding and financing a business. Finally,
it will conclude by summarizing the options for funding for a start-up
business and continued financing … Read the rest
There are very few requirements for a business to be incorporated in a given state. The business must usually have a registered agent in that state, but rarely are there requirements to construct an office or actually engage in commercial transactions.  From the outset, it seems as though finding the best location to incorporate a business would be quite simple. This prediction, however, could not be farther from the truth. Finding the right place to "set up camp" is a long and crucial process; but if done properly, the initial research can lead to the creation of a business that uses state law to its advantage rather than demise.
II. The Advantages of Incorporation
Before figuring out where to incorporate a new business, the first question to ask is whether to incorporate. There are many tax benefits for both small businesses and large corporations, such as potential… Read the rest