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The recently established Office of Cannabis Management published the criteria to apply for Conditional Adult-Use Retail Dispensary (CAURD) Licenses, thus opening the doors to the first cannabis legal sales in New York in the next few months. CAURD Licenses will be limited to “justice-involved” individuals, who is someone who was convicted, or had a parent/child/spouse who was convicted, of a…
A “down-round” occurs when a company raises new capital according to a valuation lower than that had been used in the previous financing. While this might be seen as a last resort, it becomes less unusual and actually useful in a turbulent economic landscape like the current one. In fact, when a “down-round” is justified by factors that are outside…
Cea Legal is a boutique transactional law firm that works with both sellers and purchasers in New York real estate transactions. Depending on the details of the transactions, the negotiations are specifically tailored to the goals pursued by the party represented. However, one item that is always requested by both purchasers and sellers is an estimate of the closing costs.…
Representations and Warranties are legal devices to minimize the inherent risks involved in any business relationship Entrepreneurs are often excited to partner with someone else to launch a new product or services, as long as the new business relationship does not bring new risks and issues. To this effect, at Cea Legal, we are always asked to do everything possible…
I am very happy to announce that Cea Legal is launching today an innovative NFT rewards program for its clients. Each client – whether a business or an individual – that spends in a one-time transaction at least $2,500, $5,000, $7,500 or $10,000 in legal fees will receive a Cea Legal NFT, minted on Cea Legal’s website and hosted on…
An investment contract devised to allow start-ups to raise quick capital without the burden of a traditional equity offering In the last few years, start-up companies raising capital have often resorted to proposing Simple Agreements for Future Equity (SAFEs) to early stage investors. A SAFE grants the investor the right to receive equity of the company upon the occurrence of…
Although launching a restaurant in a food mecca like New York City might seem a very attractive business endeavor, there are multiple obstacles to overcome. Of course, several hospitality groups are very profitable, but at the same time, the risks of going belly-up for new entrepreneurs in this industry are significant. Based on our experience as business attorneys and assisting…
The US corporate world is registering a growing trend of heightened transparency concerning Environment Social Governance (ESG – also referred to as “corporate sustainability”) practices. Investors, consumers, and regulators are all nowadays more sensitive to what companies do in terms of a) consumption of resources or reduction of waste – environment practices; b) human rights, workers’ safety, inclusion, and diversity…
One of the most attractive features of Non-Fungible Tokens (NFTs) is the opening of new revenue streams for artists and creators, thanks to the rolling royalty structure enabled by the NFT technology. Until today, artists and content creators would monetize only on their work’s initial sale. However, since NFTs are registered through smart contracts on a blockchain, the transactions associated…
Asset Purchase In an asset purchase, the buyer is not purchasing the stock of the seller, but only certain assets, most of the time the majority or all the assets of the seller. This structure is often the most favorable solution for the buyer, as the buyer selects the assets necessary for its activities and can dodge liabilities arising from…