What legal steps should I take before starting a joint venture with another business in New York?

As a lawyer, I would advise you to take the following legal steps before starting a joint venture with another business in New York:

1. Reach a Mutual Agreement: It is essential to reach a mutual agreement with the other party on matters such as the objective of the joint venture, the responsibilities and obligations of each party, the financial contribution by each party, and the sharing of profits and losses.
2. Draft a Joint Venture Agreement: A joint venture agreement must be drafted and signed by both parties. This agreement should outline the terms and conditions of the partnership, including the objectives, liability, and termination clauses.
3. Due diligence: Before finalizing the joint venture agreement, both parties should conduct due diligence to ensure that the other party is reliable, trustworthy, and has a good reputation in the industry. This due diligence can include a review of financial statements, management team, credit history, legal history, and other relevant information.
4. Obtain Legal Advice: It is recommended that each party obtain legal advice before signing the joint venture agreement. This will help to ensure that the agreement is legally compliant and that both parties fully understand their legal rights and obligations.
5. Register the Joint Venture: You should consider registering the joint venture with the New York Department of State, Business Division, to create a separate legal entity.
6. Obtain necessary permits: Depending on the nature of the joint venture, you may require permits and approvals from regulatory agencies in New York.
7. Compliance with Tax and Employment Laws: The joint venture entity should comply with all tax and employment laws applicable to the conduct of business in New York.

Limitations or Exceptions:

It is important to note that joint ventures can be complex and that there may be limitations or exceptions based on the specific circumstances of the joint venture. Specific legal advice may be necessary to account for these factors.

Suggestions for Further Action:

If necessary, both parties should consider obtaining further legal advice from a qualified attorney in New York to address any exceptional or complex legal issues that may arise.