Understanding Agency Every business employs or assigns certain people to perform tasks on their behalf. An agent is the waitress you hired to work at your new restaurant or the person you hired to promote your restaurant. The principle, or the business owner, is the person who appoints another person to act on his behalf. This agent relationship usually begins by some sort of agreement. This agreement can be oral or Read More
Business Law 101: The Benefits of Organizing as an LLC
Choosing the right model for your business plays a huge role in its financial success. Your choice also dictates your liability should anything go awry, and how your business is regulated. For those reasons, thousands of new business owners opt to establish themselves as a Limited Liability Corporation (LLC). Many business owners choose to register their new businesses as LLCs instead of S-Corps. While Limited Read More
The 4 Top Reasons Why Your Business Needs an Employee Handbook
For any company—of any size—having an employee handbook is as important as any other foundational document. Your handbook should serve as a go-to for both your employees and management alike. As with any organized system, businesses must have documents in place that establish rules, expectations, benefits, and also address any potential “what if” scenarios. Having an employee handbook offers legal protections for Read More
Asset Purchase Agreements: Understanding Covenants and Their Role in the Agreement
An Asset Purchase Agreement (APA) is a document that solidifies and makes legal an agreement between a buyer and a seller. A solid APA outlines and finalizes terms and conditions related to the purchase and sale of tangible or intangible assets. APAs are legal instruments most often used to transfer ownership of assets, or partial assets, in a company. APAs may also be used to cover the partial transfer of assets in Read More
What to Do and What NOT to Do in a Business Transaction
Bookkeeping and managing your company’s business transactions can simultaneously be the most dreaded and the most important task to your business’s financial health. Staying on top of the business’s transactions is equally important to small and large businesses alike. In a small company, there is likely to be less of a checks and balance system in place for the transactions that take place. Whereas larger Read More
A Brief Guide to Florida Prejudgment Remedies
Typically speaking, the objective of any civil lawsuit is for the plaintiff to recover money from the defendant as the result of a favorable judgement. However, civil cases are oftentimes riddled with delays, and it can be years before a judgement is rendered, and even longer until due payment is made. A dishonest defendant can take advantage of these delays by hiding or shifting assets, leaving little to nothing for Read More
Find What Works for You: The 3 Non-Monetary Remedies in a Breach of Contract Lawsuit
When a party to a legal agreement doesn’t perform their agreed-upon duties without legal justification, a breach of contract occurs. Though many slighted parties jump to collect monetary awards from the offending party, oftentimes there are better serving remedies that may prove to be equally beneficial. Our previous blog talks about monetary damages available to you, which you can read more about here. Here’s a look Read More
The 4 Most Common Causes of Business Litigation
When businesses fail to take charge of their legal issues, they open themselves up to lawsuits from other parties. Anything is possible, which is why it's important for you to minimize risk in all aspects of your business. Take a moment to familiarize yourself with the most common sources of business-related litigation in order to start preparing your company for potential suits today. 1) Breach of Read More
Distribution Agreements 101
When manufacturers and suppliers need to sell their products or services to the public, they commonly use experts called distributors. As independent entities, distributors serve as a bridge between companies and their customers. Distributors can buy your products for resale at a marked-up price, or they can process orders on your company's behalf, earning a commission on completed orders. If you're planning to work Read More
Breaking the Tie: Understanding Deadlock Provisions in Shareholder Agreements
If you're in the process of drafting a shareholder agreement for your company, you've made a wise choice. The contract will be instrumental in outlining the rights and responsibilities of each shareholder and director, as well as the running of your company. A well-written shareholder agreement should include a “deadlock provision.” What exactly is a deadlock provision, and why do you need one? Let's take a look at Read More
