What is Florida Benefit Corporation? A Florida benefit corporation is a relatively new entity that is available for companies that benefit the public. Under Florida state law, a Florida benefit corporation must have “a material, positive effect on society and the environment, taken as a whole.” This type of corporation was only recently created in Florida in 2014. The...
If you are considering selling your business, you may know that there are many steps involved. There are several things to do long before the parties execute a comprehensive contract. There are negotiations and preliminary documents. A letter of intent to sell your business is one of these preliminary documents. Though it may not be binding, the letter of...
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. A breach of contract in Florida occurs when one party...
Expanding into new states is an exciting opportunity if you’re an LLC owner with a growing business. But if you want to grow your business legally in the Sunshine State, you must complete the Florida foreign LLC registration process first, as the law requires out-of-state LLCs to register before conducting business in the state. Let’s look closer at the...
If you’re like many Florida business owners, you may view retirement with both excitement and misgivings. Even as you look forward to having more time to enjoy favorite activities, the idea of moving on from your livelihood can be anxiety-inducing. One option that allows you to step away and still experience the benefits of retirement is bringing family into...
If you’re new to commercial leasing, you’re probably quite amazed by the highly technical, meticulous nature of the contract. Leases for these spaces are very different from residential agreements, especially since landlords may require you to pay an amount in addition to your actual rent. This payment often covers taxes, maintenance, and insurance (TMI). When you find out that...
When you’re buying or selling a business, some of your main considerations will be price, the structure of the transactions, complying with transfer regulations established by the Florida Division of Corporations, and related details. One key issue that may not cross your mind is an exclusivity period. This prohibits a seller from dealing with any other potential buyers while...
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,...