When organizing and planning a business in Florida, you have the option of many entities, each of which have their advantages and disadvantages. General partnership is one of those type of entities the owners of a business can form to conduct their business operation.
A written contract plays a vital role in any business transaction. Apart from making the agreement between concerned parties legally binding, contracts can also serve as future references, part of the business’ policies, as well serve as proof in the event of misunderstandings, complaints or disputes needing litigation proceedings.
In most states, including Florida, it is not required for a Limited Liability Company (“LLC”) to have an Operating Agreement, but it is always recommended to create one. The reasons are several, as we shall see below. In particular, if you are looking to create any company in Florida, it is highly recommended to seek legal services in… Read More »
Raising capital to launch a startup has long been a very difficult part of getting a business idea off the ground. But over time, funding has become more democratized. The venture capital industry grew and angel investors became an alternative along with venture capital (VC) investing. And with consumer crowdfunding added to funding capital options, there’s just one… Read More »
You’ve worked hard building your business and you want to ensure that tradition of success extends beyond your tenure. The realities of the situation dictate that even though it might be unpleasant to think about, it is extremely important for all business owners to have a succession arrangement. The health and longevity of a business depend on careful… Read More »
Many of us have grown up believing in the general infallibility of the written contract. And while the written contract does indeed hold a tremendous degree of legal clout, it’s not always the end-all, be-all solution for every court case. In fact, some contracts are considered void in special circumstances, such as when a person is believed to… Read More »
In today’s justice system, “liability” is one of the most important concepts to understand. If you ignore liability, you can find yourself on the wrong end of a highly contentious lawsuit – or you may miss out on damages that you’re owed simply because you didn’t think about liability.
In business, there’s no escaping this simple fact: we operate in a world of laws. In many cases, we might not agree with these laws, as excessive and wasteful regulations hamper the progress of innovation. But many of these laws work to our advantage, and there are good reasons they’re kept in place. These are the kinds of… Read More »
Want to know a quick way to sink your business? It’s easy: stop putting everything in writing. Rent an office from someone who doesn’t “do” lease agreements. Pay your taxes with as little information from tax forms as possible. Operate your business like an LLC, but don’t actually register as an LLC. That should put you under pretty… Read More »
To some people, family and money are like oil and water – they just don’t mix. And yet oddly there’s no good way to separate family from money. We send our kids to school, buy each other Christmas gifts, feed each other, and ultimately share our lives and finances with each other. That is the kind of reasoning… Read More »