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Online Privacy 101

Although we may not be conscious of it, nearly every action we take online involves sharing some amount of information with a website or its advertisers. Because of this sharing of information, most sites on the Internet have a lengthy document somewhere on the site, frequently written in legalese that they call a “Privacy Policy.” Despite their name, the focus of most privacy policies is to describe how a website is using your information. While they vary greatly, these policies all generally have three core provisions: what data is collected, what does the site do with the data, and who can the site share the data with.

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Why Your Partnership Needs a Formal Agreement

Your Business May Already Be a Partnership
Unlike other types of business entities such as a corporation or a limited liability company, a partnership can be formed without any written agreement or filing with the government. New York law defines a partnership as an association of two or more people formed to carry out business for profit as co-owners. Courts have looked to the conduct, intentions, and relationship between parties in determining whether a partnership existed. As this determination depends highly on the individual facts and circumstances of a relationship, it is a frequent source of litigation.

The Default Rules May Not Be What You Expect or What is Best for Your Business
If your partnership lacks a formal agreement, the New York Partnership law provides for many of the key provisions that are typically in such an agreement. However, much of this law represents an attempt by the State legislature in 1919 to create a set of rules for every partnership whether it had 2 members or 100. Many of these hundred-year-old, one-size-fits-all provisions may not be desirable for your particular business.

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Bitcoin 101

Over the past year, Bitcoin, a new alternative virtual currency was in the news almost every week. Since its creation in 2009, Bitcoin use has grown exponentially. It now has a presence in nearly every country in the world. Mainstream businesses including Overstock.com and Microsoft have also begun to accept Bitcoin for ordinary transactions.

1. What is Bitcoin?

Bitcoin is a virtual currency that exists on the Internet. Just like the Dollar or the Euro, one can use it to buy goods and services or exchange it for real-world currencies. Some also hold Bitcoins solely as an investment.

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