One minute, business is running as usual. A Florida business owner is making decisions, serving customers, and planning for the future. Then, an unexpected death can leave employees, family members, and business partners asking who has the authority to take over. What happens to a business when the owner dies depends on the company’s structure, Florida law, and whether...
A business succession plan explains what will happen to your company when you retire, leave suddenly, become incapacitated, or die. This article’s comprehensive business succession planning checklist can help you decide who will own the business, who will manage it, how ownership will transfer, how the parties will determine and pay the purchase price, and who can act during...
When planning for family business succession in Florida, owners must decide who will own the company, who will manage it, and how the business will transfer value to family members who will not participate in operations. Then you document when and how those arrangements will take effect by creating new legal documents, amending your governing documents, or both. By...
Funding a buy-sell agreement means establishing how a purchaser will pay for an owner’s interest when death, disability, retirement, or another event triggers a buyout. Life insurance can provide money for a purchase after an owner dies, while disability insurance, cash reserves, financing, or installment payments can address other events that lead to a transfer. The company may also...
When you own a business, planning for its future involves deciding what happens after you no longer run it. You need to decide who should own your business, who should manage it if you become incapacitated or die, and how ownership and management should transition over time. Your estate planning documents and your business governing documents each establish part...
Selling your company or combining it with another business can create major opportunities, but ensuring a successful transaction often depends on preparation that begins long before negotiations start. To prepare your business for a merger, organize your financial records, resolve legal issues, review contracts, confirm ownership of valuable assets, and document how the company operates. Buyers and merger partners...
Florida is home to millions of active businesses. Every year, entrepreneurs buy and sell companies across the state. Whether the transaction involves a family-owned restaurant, a technology startup, a professional practice, or a growing construction company, one document often carries more weight than any other—the business purchase agreement. While buyers may focus on revenue and sellers may focus on...
You have found a franchise opportunity that looks promising. The brand is recognizable, the business model appears proven, and the numbers make sense. It may feel like the hard work is over. But one of the most important steps still lies ahead in the franchise document review. Many franchise buyers spend a great deal of time evaluating the franchise...
Florida continues to attract entrepreneurs from across the country. Nearly 3.5 million small businesses are operating in the state. Many buyers see an opportunity in buying an established company rather than starting from scratch. But buying an existing business in Florida involves much more than agreeing on a price. A business may come with hidden debts, contract issues, licensing...
A business does not usually lose its reputation overnight. Problems often start with small decisions, like ignoring policies, cutting corners, or prioritizing profit over doing the right thing. In Florida’s fast-moving business environment, those choices can lead to lawsuits, fines, or damage to customer trust. That is why understanding business ethics and law matters for companies of every size....