In nature, a group of stingrays is called a fever. However, it is unclear whether scientists have yet assigned a name for the group of lawsuits coming fast and furious at Tampa Bay Rays principal owner Stuart Sternberg, who was sued for the third time in less than three years by a group of minority owners. The most recent...
Rap icon and entrepreneur Jay-Z finally settled a dispute between his company, SCLiquor, LLC, and Empire Investments, Inc. (a subsidiary of Bacardi, Inc). The business ownership dispute began when Jay-Z proposed an agreement for Bacardi to buy out his interest. The controversy centered around Jay-Z’s valuation of the company and Empire’s refusal to turn over vital financial records. Jay-Z...
The recently resolved business ownership dispute between Shari Glazer and Aptos Labs brings home an essential but often overlooked piece of legal advice: putting everything in writing. There’s an adage among lawyers that if it’s not in writing, it didn’t happen. Unfortunately, Shari Glazer learned that lesson the hard way during her legal battle with Aptos Lab (Matonee, Inc.)...
A dispute over ownership of a private business can arise in various contexts. Owner disputes are common in small businesses where owners may find themselves at odds over management styles, equity percentages, or the company’s future. Because business owners can have a lot of their personal capital tied up in a company, a dispute over ownership of a private...
Most entrepreneurs begin their partnerships with the intention of their businesses lasting for many years, if not a lifetime. However, not all partnerships mature into successful business ventures. This can be due to various factors—often beyond the partners’ control—such as lack of access to sufficient capital or absence of a market for the partners’ product. In these cases, partnership...
Deciding to dissolve your partnership and close your business is one of the most challenging decisions you will face in your career. Closing shop is not only stressful for you as a business owner and partner, but it can also weigh on you as you consider the effects on customers when ending a business partnership. However, with the right...
Losing your business partner can be tough, both for the business and for you personally. While general partnerships confront the death of a business partner all the time, that is no comfort when it happens to you. One of the most important things to do if your business partner passes away is to take time to mourn and recover....
Business is booming in Florida. According to the United States Census Bureau, new business applications are up 4.3% year over year as of October 2022. Most of these applications were for the formation of small and medium-sized businesses. If you have plans to start your own business in Florida, there is no better time than now. Coming up with...
A strong partnership is great for business. Unfortunately, sometimes splitting up is the best decision business partners can make. When partners have incompatible visions for the future of their business, moving forward can be difficult. A buyout allows one partner to cash out on their contributions to the company while giving the other partners complete control. Though often the...
Since the establishment of the American Arbitration Association in 1926, arbitration has steadily grown more popular. Businesses and employers favor arbitration over litigation because of its potential to save costs and remain confidential. Arbitration in Florida is following this trend, especially for businesses and employers. You’d be hard-pressed to find a commercial or employment contract that doesn’t have an...