There are many different structures that a business can take. For business owners across Florida, a Limited Liability Company (LLC) is a popular choice. This structure shields owners from personal liability should legal disputes occur. One question that often crops...
Business Consulting & Advice
Should my business have a joint bank account?
A business partnership can be a highly beneficial arrangement. Partners can share responsibilities, obligations and pool resources. Many business partners opt to open a shared bank account, accordingly, which may result in numerous benefits. However, there are also...
The difference between simple contracts and formal contracts
Contracts are the foundation of all business relationships. A contract can be tailored toward serving specific purposes and protecting parties involved in transactions. There are numerous different contract types and potential terms. Some contracts may be simple,...
What is the difference between a joint venture and co-ownership?
When entering into a brand new business project, there are numerous options at your disposal. All business projects are risky, and you may want to share this risk with another party. Two possible routes to go down include a joint venture and co-ownership. What is the...
What are the risks if I own my Florida LLC 100% with no co-owners?
A Limited Liability Company (LLC) is one of the most popular business structures. One of the key advantages of this structure is that it shields the owner from being personally liable. In other words, an owner's personal property can generally be safe should the...
Essential contracts for start-up businesses
Launching a new business can be very exciting. It gives you the chance to be your own boss and get involved with something you are passionate about. However, it doesn’t come without challenges. You’ll want to ensure that your business is legally protected. One of the...
Why your business needs an HR compliance audit
Human Resource (HR) audits are an often overlooked process. The truth is that audits of this type are extremely important. Audits can help ensure that a company’s HR policies and procedures are in line with the objectives and core ethos of the company. They also...
To sign or not to sign: Non-compete agreements in the modern world
Non-compete agreements have been a hot topic in recent years. Some argue that they stagnate healthy competition and restrict employees too much. Nonetheless, these contracts are still legally enforceable in Florida, as long as the terms are reasonable. What benefits...
Conflict is often unavoidable when starting a business with 50/50 ownership
When starting a new business, business partners often assume that they should set up a 50-50 ownership arrangement. It seems easy. The partners can provide an equal financial investment and equally split the responsibilities of running the company day-to-day. However,...
Do my spouse and I need an operating or shareholders’ agreement?
Running a business with your spouse can be very rewarding. It may have been an ambition for the two of you for several years. After all, who is more trustworthy than your life partner? That being said, operating any kind of family business comes with unique...