Choosing the right structure for your business depends on your goals. When selecting an entity type, consider the formation requirements, liability protection, tax implications, and how you envision business operations and management. If you need help deciding what type of business structure is best for your organization, contact a business attorney. Florida Limited Liability Company (LLC) An LLC is...
What should you do if you operate a state-licensed business and receive a letter from the Florida Department of Business and Professional Regulation (DBPR) alleging a complaint against you prompting a DBPR investigation process? Typically, these complaints claim that you violated a rule or law that covers businesses licensed by the DBPR. As a small business owner, handling the...
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...
Please note this blog post is written for employers, although we understand it may be of interest to employees as well. At this time, our firm only represents business owners and employers. If you need assistance with a legal matter as an employee, please consult a firm that represents employees. It can be very frustrating when your employee makes...
The consequences can be severe when a business partner starts sabotaging business operations. Sabotage can take many forms, from financial misconduct and withholding key information to damaging the company’s reputation or deliberately disrupting operations. These actions can lead to significant financial losses and long-term instability if they go unchecked. Quickly addressing sabotage is crucial to protecting your business and...
We hope it all goes well when we enter into a business partnership with another person. Generally, we select people we know and trust to do business with. We trust they will consider the company’s and your best interests. Unfortunately, human relationships are challenging. People in a business partnership can butt heads and disagree about the direction of the...
In a globalized world, information is easily shared and accessible, and ideas are widely disseminated. Protecting unique ideas from copycats, hackers, competitors, and employees is also more challenging. Maintaining your trade secrets is paramount to your business’s success. Trade secret theft, pirated software, and counterfeit goods cost the United States between $225 billion and $600 billion annually. You can...
Company shareholders should focus on the health and success of the business and treat one another fairly. Unfortunately, that is not always the case. Minority shareholders often get taken advantage of or mistreated due to their lack of influence and control over the business. Minority shareholder oppression can negatively affect the shareholders and the company’s integrity. If you are...
When one party fails to live up to their part of a mutual agreement, it’s called a breach of contract. This breach can leave the other party facing unexpected costs or losses, but they may have the option of taking legal recourse. But here’s the catch: the party affected by the breach can’t just sit back and let the...
Fiduciary duty refers to the legal obligation of one party to act in the best interest of another. This duty is essential in various relationships between partners, corporate directors, trustees, and agents, ensuring trust and integrity. Understanding examples of breaches of fiduciary duty is crucial, especially in Florida, where specific laws and cases illustrate the severe consequences of such...