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.)...
As a Florida entrepreneur, you probably know that your intellectual property is one of your business’s most valuable assets. The best thing you can do is to protect your trademarks as soon as possible. But once you have been granted trademark rights, those marks need to be maintained to avoid trademark abandonment or loss of trademark rights. In Florida...
Florida employment agreements should include essential terms such as the compensation rate, benefits, contract termination options for both parties, the scope of work, and other details. Writing an effective Florida employment agreement is critical to helping limit your business’s liability and creating a productive workforce. After all, the employment agreement forms the foundation of your company’s relationship with its...
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...
In business, disputes can arise anytime—over virtually any issue. There are many choices available to business owners regarding how to handle a dispute, especially when deciding what kind of ongoing relationship you as a business owner want to have with the other party once the conflict is resolved. Understandably, companies and individuals alike are often confused about which dispute...
Franchising can be a quick, easy way to establish yourself in business. As a franchisee, you get instant brand recognition. For a franchisor, you receive payment on the use of your business name and, potentially, royalties on your franchisee’s profits. It seems like a win-win—unless the deal is a loser. Sometimes, the franchise agreement simply is not a match,...
For Florida entrepreneurs, contracts are an essential part of any business operation. Unfortunately, when your business relies on contracts, you can leave yourself vulnerable if your counterparty fails to hold up its end of the deal. If this happens, you may be faced with filing a lawsuit to recoup your losses. However, before going through the pain and hassle...
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...