What is an Asset Purchase Agreement
An asset purchase agreement is a contract that details the terms for purchasing assets from another business while limiting liability for the seller’s debts and claiming certain tax advantages. It can be a complex transaction for which a business owner needs solid legal advice, to shield them from unintended consequences. Finding a qualified business attorney […]
Do I Need a Partnership Agreement If I Trust My Business Partner?
Trusting your business partner is a good thing, but an oral agreement isn’t enough to sustain a business when complicating factors arise. Disagreements, departure, illness, or a takeover offer can quickly disrupt a partnership that was skating along without formalities. Consulting a business attorney experienced in Florida law is key to establishing a strong foundation […]
Can I Change My LLC to a Corporation in Florida?
When consumer demand and your business plan align, things can take off—suddenly your sole proprietorship or LLC is in growth mode. To take advantage of this transformation, converting to a corporation may be your route to greater success. Fortunately, making the switch is not only possible, but the State of Florida makes the process straightforward […]
Business Sale Contracts: What Needs to Be in Writing
A lot of work, research, and commitment goes into the lead-up to a business sale transaction. Putting everything in writing protects the parties, clarifies expectations, and makes the deal enforceable. In Florida, business sale agreements can involve a variety of contracts — from asset and real estate transfers to employment agreements — and must comply […]
What’s the Difference Between an Operating Agreement and Bylaws?
When you create a business the corporate structure that you decide upon dictates the way income is divided, taxes are paid, and some of the regulatory oversight your company must follow. You need more than a product or service to sell–it’s critical to know which reports to file and licenses to hold. A qualified business […]
What Does “Due Diligence” Mean When Buying or Selling a Business?
Due diligence is the multi-step process of determining the fair market value of a business by examining its financial, legal, and regulatory health and to uncover potential risks or liabilities that impact a purchase or sale. When properly carried out, due diligence should assure lenders, stockholders, and partners that the price of a business represents […]
Protecting Yourself When Starting a Business with a Partner: What You Need to Know
It’s exciting—and a little overwhelming–to start a business with a partner. Whether it’s your first-ever foray into business or something you’ve done dozens of times, attention to detail is critical. Your business will benefit from the steady counsel of a qualified business attorney, who will make sure that your liabilities are covered for the normal […]
Operating Agreements: The Most Important Document in Any LLC
An operating agreement is a foundational document for an LLC, or limited liability company. The contents of your business’s operating agreement should accurately reflect the way your business functions as well as providing important liability protections. These documents guard against disputes arising between business managers, which can be time-consuming and costly to resolve. When setting […]
Buying or Selling a Small Business: What to Expect in the Process
It’s never been easier to create or more profitable to buy or sell a business in Florida. The state’s pro-business environment and strong economy support all types of ventures. But knowing the steps—and potential pitfalls—along the path is key to your success. Your first step is separating the experienced, knowledgeable business attorneys from newcomers who […]
Letter of Intent in a Business Sale: What It Means for Buyers and Sellers
There are several million active businesses in Florida, and many are purchased and sold every day, consolidating industries and creating new opportunities. Most of these transactions begin with a letter of intent (LOI), which creates the framework of an agreement to sell some or all of another business. When seeking to buy or sell a […]