Steven Stark Employment Lawyer for New York, NY
Alejandro Maher Employment Lawyer for New York, NY
Scott Stram Employment Lawyer for New York, NY
Thomas Bark Employment Lawyer for New York, NY
Jonathan Savar Employment Lawyer for New York, NY
Joshua Soloway Employment Lawyer for New York, NY
Eric Leander Employment Lawyer for New York, NY
William Frenkel Employment Lawyer for New York, NY
Joseph Gross Employment Lawyer for New York, NY
Marina Warner Employment Lawyer for New York, NY
New York Employment Lawyers
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Legal Services Offered by Our On-Demand New York Employment Attorneys
Our experienced New York employment attorneys & lawyers can help guide you on how to proceed with various employee decisions such as reviewing employee documents such as contracts, agreements, policies, and handbooks, along with difficult decisions such as firing, lawsuits, claims, and complaints.
Although not every single employment contract will require legal assistance, many employment lawyers would recommend avoiding unilateral employment contracts that strongly benefit one side over the other. These types of employee contracts rarely hold up in court, yet having the funds needed to combat an issue in court can limit the employee’s options.
A confidentiality agreement and a non-compete agreement are common forms of employee contracts that one of our New York employment attorneys can help customize for your business. If your business needs to fire an employee, proper measures should be taken from a business legal standpoint to ensure proper communication and a smooth transition of dismissing that employee. In any case, we suggest you connect with our employment attorneys to discuss your options.
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- 11 min read
What Is a Vesting Period?
The vesting period is the period of time before shares in an employee stock option plan or benefits in a retirement plan are unconditionally owned by an employee.
If that person's employment terminates before the end of the vesting period, the company can buy back the shares at the original price. The employee cannot sell or transfer the stock options during the vesting period.
The Tax Reform Act of 1986 established the minimum vesting rights for employees. Full vesting must occur within five years or at 20 percent vesting per year after three years of employment.
Vesting is the process by which an employee with a qualified retirement plan or stock option plan is entitled to the benefit of ownership. Once vesting occurs, t
- 4 min read
Preferred stock is a special class of equity that adds debt features. As with common stock, shareholders receive a share of ownership in the company. Preferred stock also receives special rights, including guaranteed dividends that must be paid out before dividends to common shareholders, priority in the event of a liquidation, is listed separately from common stock, and trades at a different price than common stock.
Why Is Preferred Stock Important?
Preferred stock gives you a financing alternative to taking on debt. You generally maintain greater control over your company than if you issue new common shares.
You can also remain flexible for future financing rounds by keeping debt off of your balance sheet and retaining a call option. The call option allows you to reduce your outstanding equity and offer a greate
- 2 min read
Learn about HIPAA Law
You may not be aware that the Health Insurance Portability and Accountability Act (HIPAA) is actually a 1996 amendment to the Employee Retirement Income Security Act (ERISA).
HIPAA was added as an amendment to help protect more workers and their loved ones by limiting new employers from excluding coverage for preexisting conditions, prohibiting discrimination against employees and their family members based on any preexisting conditions, and providing new rights to individuals who lose their coverage.
HIPAA also protects patients’ paper and electronically stored medical information t
- 5 min read
What Is Cliff Vesting?
Cliff vesting is the process where an employee gets fully vested on a given date. The employee receives his or her full benefits of the retirement plan on a specific date instead of in amounts over time. The "cliff" described is the date on which you become fully vested. A four-year vesting schedule with a one-year cliff is common.
Cliff vesting is the way that employees of a company can acquire full ownership of incentives or assets of the company's qualified retirement plan account on a specific, agreed-upon date, instead of over a longer period. This period cannot exceed six years. The "cliff" is usually one year in.
Companies put vesting schedules in place as a way to handle pension or retirement plans. There are other assets and benefits that can be specified. But they must meet t
- 6 min read
Work for Hire: What Is It?
Work for hire is any created work that can be copyrighted like songs, stories, essays, sculptures, paintings, graphic designs, or computer programs. In the U.S., work for hire — shorthand for the term "a work made for hire" — applies if the created piece is part of a person's job or made by an independent contractor.
Instead of the creator keeping the copyrights, the copyright and publishing rights belong to their employer. For example, when a staff writer drafts a blog for his employer, the company becomes the author and assumes the copyrights for the blog. All areas of copyright ownership now belong to the company, including credit for the blog and control of the blog. Work for hire is part of the U.S. Copyright Act of 1976 and changed the go-to rules of copyright ownership. Work for hire applies in two situations:
- An employee creates work during her normal functions as an employee