Phil Chapman Esq, Legal Advisor

pchapman_smPHILIP L. CHAPMAN is Of Counsel to Lum, Drasco & Positan, LLC located in Roseland and one of New Jersey’s oldest and most prestigious law firms. He concentrates in counseling closely held, including family-owned businesses in all aspects of business, corporate and real estate law. This includes forming, buying and selling businesses, shareholders and limited liability company member agreements, non-competition agreements, buying, selling and leasing all forms of real estate and real estate auctions.

For over fifteen years he has been listed in “Best Lawyers in America” as one of the best corporate lawyers in the State of New Jersey. Mr. Chapman has been named in New Jersey Super Lawyers for each year between 2005 and 2010. Considered among the best in their profession, Super Lawyers represent the top 5% of the practicing attorneys in New Jersey. The New Jersey Super Lawyers were selected by their peers in an extensive nomination and polling process conducted by Law & Politics and published in a special advertising section in the 2005-2010 issues of the New Jersey Monthly and New Jersey Super Lawyers magazine.

Mr. Chapman was one of the three-person committee that authorized the New Jersey Nonprofit Corporation Act, which became law in 1983. He has been a member of the Board of Trustees of the Corporate and Business Law Section of the New Jersey State Bar Association since 1979.

Mr. Chapman lectures for the New Jersey Institute of Continuing Legal Education, Lorman Education Services, the Mid-Atlantic Business Brokers Association and the New Jersey State Society of Auctioneers and other educational forums on such subjects as such subjects as forming new business entities, buying and selling a business, buying a franchise, second stage financing of closely held Businesses, shareholder and limited company agreements, family businesses, post-employment non-competition agreements, commercial leasing and auction law.

He has presented programs to accounting firms and societies of accountants for their continuing professional education and programs to commercial/industrial real estate brokers on aspects of commercial and industrial leasing.

Mr. Chapman has authored articles for various publications, his most recent articles being “Safeguarding the Buyer’s Post-Closing Claims for Indemnification” in the December 2002 issue of The New Jersey Lawyer, and “Preparing Your Business for Financing” in April 2003 issue of the national publication of Renaissance Executive Forums.

For more information about Mr. Chapman and his areas of concentration visit his personal website at SuperLawyer NJ, and for information about his law firm, Lum, Drasco & Positan, LLC, go to