Understanding the “Why?” and “What?” of Written Partnership Agreements

There are bumps in every road to success. That is part of the reason why having a written partnership agreement is so essential for business partners. Written partnership agreements clarify each partner’s rights and obligations in the relationship, but they also lay out what will happen if the unthinkable occurs, including death or incapacity of one of the partners. Every partnership should have a written partnership Read More

Choosing a Business Entity: The Pros and Cons of Forming a C-Corporation in Florida

Individuals who must decide on business entities are faced with a variety of options including corporations, limited liability companies, partnerships, and sole proprietorships. There is also the question of what tax treatment your entity should receive. One of the best ways for individuals interested in selecting a business entity to decide which election to make is to understand the strengths and weaknesses of each Read More

Choosing a Business Entity: The Pros and Cons of Forming an LLC in Florida

In Florida, there are several ways that a new business can legally organize, including sole proprietorships, corporations, partnerships, and more. Many businesses find that registering as a Limited Liability Company (“LLC”) is the best route for them. Becoming an LLC in Florida has a number of different advantages and disadvantages—both at the federal level with regard to taxation and at the state level regarding the Read More

Preventing Employees from Becoming Liabilities: 4 Key Benefits of Using Non-Compete Agreements

Your employees should be your company’s greatest asset, but under some circumstances they can quickly turn into liabilities. As an employer, there are many steps you should take to mitigate the risk of employees or former employees causing irreparable harm to your company. One of the most useful tools to help you mitigate that risk is the Non-Compete Agreement. This is a contract signed by your employees that Read More

Work-Life Balance: 4 Useful Tips to Help You Avoid Startup Burnout

There are few things more exciting and satisfying than starting your own company. For many people, the joy of creating something and building it from the ground up is both indescribable and unparalleled. But that joy can quickly turn to dread, anxiety, and depression if you allow yourself to become burned out...and trust us, the risk of burning out when you start a company is incredibly high. The best way to Read More

5 Challenges Inherent with Digital Intellectual Property

There is no denying that intellectual property (IP) law can be complicated. Even so, protecting your company’s name, logo and other unique creations is essential to your success. The digital age has led to new and challenging IP issues that any business that uses digital assets—such as software, websites, and much more—of which you should be fully aware. Below we have detailed five significant legal challenges Read More

Pros and Cons of Using a Term Sheet

A term sheet is a vital tool utilized in numerous types of business transactions. In its simplest form, a term sheet—also known as a memoranda of understanding or a letter of intent—is an agreement in principle, on the intended terms of a transactions. They usually have very little legal weight behind them and are mostly intended as a means of summarizing the fundamental points of the agreement and demonstrating that Read More

5 Essential Elements of a Confidentiality Agreement

Growing up, did you ever enter into a verbal confidentiality agreement with a friend? Did you ever share a valuable secret based on the promise that the friend would never breathe a word? And when that person inevitably blabbed, did you wish there was some way you could have ensured their silence? Now, as an adult in the business world, the verbal promise of confidentiality is more ineffective than Read More

5 Ways to Prepare Your Company for the Inevitability of Getting Sued

Before you read this blog, it is essential that you understand one key thing: there is no way to completely eliminate your company’s risk of getting sued. We live in a free, some might say “litigious” society, where anyone can sue for nearly any reason. If you go into business, particularly if you own more than one business, you will probably get sued at some point. Even seemingly ridiculous suits can get their Read More

Prenuptial Agreements and Responsible Business Ownership

You’re madly in love, you say? You’re going to be together forever, you say? Your fiance isn’t even interested in your business, you say? So, why would you possibly need to sign a prenuptial agreement? The fact is, as an entrepreneur, it may be irresponsible business ownership to neglect having a prenup that, at the bare minimum, addresses your company and whether or not your spouse will have any ownership Read More