Formation Insights

Minority shareholder oppression occurs when majority owners in closely held New York businesses abuse control to exclude minority shareholders from the economic benefits of ownership. Common issues include freeze‑outs, withheld distributions, lack of transparency, and self‑dealing. New York courts offer remedies ranging from damages to buy‑outs and dissolution, making early legal guidance critical.

This article explains how internal governance documents—bylaws, operating agreements, and certificates—interact with state laws in New York and New Jersey. It highlights how default and mandatory statutes affect corporations, LLCs, and nonprofits, and why clear, up-to-date governance documents are essential for avoiding disputes and ensuring effective management.

Before forming a nonprofit, it’s essential to choose the right structure — public charity, private foundation, or membership organization. Each type has distinct rules for funding, governance, and IRS recognition. Public charities rely on broad public support; private foundations are typically family- or donor-funded; and membership organizations are governed by their members. This guide from Good Pine P.C. explains the legal and tax differences to help you determine which form best aligns with your mission and compliance obligations in New York or New Jersey.

Forming a nonprofit in New York or New Jersey involves similar goals but very different legal requirements. New York’s Not-for-Profit Corporation Law and New Jersey’s Title 15A differ in how they define the governing board, filing steps, and compliance rules. Both states require at least three board members—called directors in New York and trustees in New Jersey—but procedures for registration, tax exemption, and charitable reporting vary. This article by Good Pine P.C. explains what founders and board members need to know before choosing where to incorporate.

Korean companies entering the U.S. market face complex legal and compliance issues. This article outlines entity formation, visa options, and common pitfalls—helping parent companies expand successfully and lawfully.