Whatever the reason behind your decision to dissolve your business, it’s important to understand that it’s not as easy as just closing your business doors and moving on. There are multiple requirements under the Florida Business Corporation Act, and noncompliance can lead to serious legal consequences. Though many business owners were fully prepared to start up their company, fewer...
If you’ve been in the business world for some time, you’re probably familiar with the different types of entities that you can form through the Florida Division of Corporations. Limited liability companies (LLC) have recently experienced a growth in popularity because LLCs allow you to protect your personal interests. LLC’s can also be structured to optimize a business’s tax treatment,...
The basic definition of a divestiture is selling off business interests and assets, and closing down the enterprise upon conclusion of the process. However, there’s a lot more you need to understand if you’re considering this type of transaction or its counterpart – an acquisition. The Florida Business Corporation Act covers the scenario generally, but there are complicated financial,...
If you’re seeking to buy or sell an existing business entity in Florida, there’s a good chance you want to accomplish this goal through either a small business merger or acquisition. The route you take depends upon a number of factors, and one of the most important is what’s best for your needs and those of your company. Though...
As more business owners strive to protect their interests and investment in intellectual property, Florida nondisclosure agreements (NDAs) are becoming more common in the corporate world. Computer programs, code, trade secrets, customer information, and related assets have value, so it’s important to keep them out of the hands of your competitors. However, state law on restraints of trade does include some...
A trade secret is a form of intellectual property. As the name implies, it is ‘secret’ information that gives a business a competitive advantage. Trade secrets can come in a wide range of different forms. Some of the most common examples include formulas, practices, designs, patterns, processes, commercial methods, and any combination of the above. Trade secrets are protected...
When work is performed or services are provided by an outside party, it is often done under a vendor services agreement. Business owners and individuals in need of services from a third party— whether as a one-time thing or on an ongoing basis — should use a vendor services agreement. With a clear and professionally drafted vendor services agreement...
Buying an established business can be a great way to hit the ground running. More people are pursuing this path than ever before — according to data from Small Business Trends, the total number of companies bought and sold in the United States hit a record level in 2018. As lucrative as buying a business can be, it is...
According to the most recent data published by the United States Patent and Trademark Office (USPTO), there are more than 600,000 patent applications filed every year. For many businesses in Florida, patents are a key part of their overall assets. When patent rights are infringed upon, it can cause tremendous financial damage to the business — companies need to...
Going into business with one or more other people can be exciting, but it can also be a stressful experience when one or more of your partners does not live up to the terms of the partnership agreement. When one or more of the partners fails to abide by the terms of the partnership agreement, this is known as...