John D. Cromie, chair of Connell Foley's Corporate & Business Law Group, was a featured contributor in the October 2016 issue of COMMERCE Magazine in a section geared towards providing advice to entrepreneurs. In the article, accounting firms, banks and law firms were asked to share some keys to success that have helped their business clients thrive, grow and profit in the Garden State. Mr. Cromie wrote: "Entrepreneurs are often replete with ideas but lean on budgets. However, they cannot afford to cut corners when it comes to allocating funds for legal counsel. There are several functions that an experienced business attorney must handle to ensure the ongoing success of a nascent enterprise. These include: the appropriate business structure; compliance with necessary regulations; employee/contractor agreements; protection of intellectual property; shareholder agreements; and succession planning. Entrepreneurs may be tempted to try to handle these issues themselves in an attempt to lower costs, but setting up and protecting a business properly from the outset will potentially save time, money and frustration down the road."
To read the article, see page 50 of the online edition at http://www.cianj.org/commag/october2016/index.html