When you have a business partnership (or an LLC that is treated as a partnership for federal income tax purposes), profits and losses typically need to be divided or allocated to the partners. This is typically done in a way that corresponds with each of the partners’ percentages of business ownership. If you want to divide or distribute profits...
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 represents business owners and employers. If you need assistance with a legal matter as an employee, please consult a firm that represents employees. Not all contributions to a business are financial. For example,...
Businesses take a lot of elbow grease to get up and running. After years of promotion and providing quality work, you might find that you grow so successful that you suddenly are in the cross hairs of some very unsavory people. Many businesses can go decades without confronting serious legal issues, but many eventually find themselves the targets of...
All businesses rely on contracts with other parties in order to operate smoothly and efficiently, as well as to grow and protect business interests. From contracts with sellers to employees, other businesses to third parties, contracts are essential to business operations. While contracts are legally-binding agreements that require all parties named in a contract to act in accordance with...
Businesses profit, gain, and grow as a result of the exchange of monies, ideas, products, services, or a combination of the above with other parties. Often times, these exchanges are specified in contractual terms – i.e. a seller provides a product to a buyer in exchange for monetary compensation. While the terms of a contract and an exchange are...
Establishing and operating a business is something that not only demands hard work, intellect, and creativity. Also, it requires adherence to various laws, business regulations, and best practices. For many businesses, establishing a fictitious name is one such step that a business may take in order to protect their best interests. Establishing a fictitious name, though, is a legal...
If you are thinking about starting a business in Florida, it is important to understand the distinctions among the different types of business structures. Also, it’s important to learn more about how a limited liability company, or LLC, may be able to benefit you. There are many different types of small businesses and companies in Florida, and those entities...
Are you considering opening a small business in Florida, or starting a company with partners? No matter what type of business you are thinking about, you will most likely need a commercial space from which to run your business. Renting a commercial space can feel daunting, and understanding the terms of a commercial lease can be complicated, particularly if...
Dissolving a partnership agreement isn’t always easy. Here’s how to end your partnership amicably. When you’re starting out in a business partnership, it’s easy to get swept up in the possibilities of your new venture and overlook the possibility – and legal ramifications – that the partnership may not work out. Entering into a business partnership or limited liability...
Are you thinking about opening a business? Starting your own business in Florida can be a complicated and daunting process but being a business owner can also be extremely rewarding. While the necessary steps for starting a business can be extensive, an experienced Florida business formation lawyer can assist you. The attorneys at BrewerLong regularly assist clients as they...