Category: Business Law

What are the signs of a small business scam?

September 25, 2023
Business Law

Running a business can pose challenges, especially for small business owners with limited resources. Some essential operations require products and services from third-party suppliers or contractors. Unfortunately, these needs can become opportunities for scammers to commit fraud by taking advantage of unsuspecting small businesses. This type of fraud involves illegitimate vendors who advertise quality products or services and then[ ... ]

4 red flags when doing due diligence for an acquisition

August 11, 2023
Business Law

Whether buying real estate or making investments, it is vital to do due diligence. During this step, buyers could determine if their purchase is a sound investment. It could also apply to business mergers and acquisitions. When expediting these significant business transactions, the parties involved could only make careful decisions after analyzing essential details about the business. Some information might stand out while doing du[ ... ]

Factors that can lead to a fraud allegation in your business

June 5, 2023
Business Law

Making ethical choices and maintaining integrity are essential for the success and credibility of any business. However, businesses may face the risk of fraud, which can have serious legal consequences. Fraud allegations can stem from various actions or behaviors within a business environment. Business owners and managers should understand the potential factors that can contribute to fraud in order to identify vulnerabilities and take proactive measures to address th[ ... ]

Finding amicable resolutions to business disputes

May 29, 2023
Business Law

In the realm of business, disputes are nearly inevitable. These disagreements can arise from various issues such as contract disagreements, partnership dissolutions or breaches of fiduciary duty. If not handled properly, these disputes can disrupt operations, harm relationships and potentially lead to costly litigation. However, it is entirely possible to solve business disputes amicably. Amicable solutions not only reduce the financial burden but also help maintain[ ... ]

Are your personal assets at risk if you have an LLC?

April 18, 2023
Business Law

If you want to launch a business venture without risking your personal wealth, you might consider setting up a limited liability company. After all, according to the Journal of Accountancy, shielding the owner's personal assets from the venture's creditors is a common and valuable reason to form an LLC. While an LLC's personal asset protections are solid, they are not indestruct[ ... ]

3 situations when a restrictive covenant may be unenforceable

April 11, 2023
Business Law

Restrictive covenants, such as non-disclosure agreements and non-compete agreements, serve an important purpose. When used correctly, they can shield your trade secrets from your competitors. In some circumstances, however, your restrictive covenant may not be enforceable. There are several reasons a court may find your contract invalid. The restrictions are unreasonable In Florida, there are limits to how long you can enforce a[ ... ]

When to consider having employees sign a nondisclosure agreement

March 31, 2023
Business Law

When hiring new employees or collaborating with freelancers, businesses may have sensitive information that they wish to control who has access to it and when. A non-disclosure agreement can help protect this information by legally binding the employee or freelancer to keep it confidential. Here are some scenarios in which a business should consider having employees sign an NDA. Protecting trade secrets Trade secrets are valuable and confidential pieces of[ ... ]

Pros and cons of common business structures

February 3, 2023
Business Law

What happens if you choose the wrong structure for your new business, or if you change your mind later? It depends on the structure you choose: Sometimes you can change easily, sometimes it is difficult and costly to change and sometimes you cannot change at all. For this reason, you should give some thought to the structure before you start your business. Entrepreneur describes some common business structures as well as the[ ... ]

Tips for choosing a successful acquisition

February 3, 2023
Business Law

Mergers and acquisitions are standard practice in the business community, but the right ones are a matter of judgment and research. Some business owners want to branch out and expand their operations with targeted acquisitions, but they may not know how to choose. There are a few key things to consider for successful acquisitions. Is the industry complementary? When you choose a business for an acquisition, the key is to select a business that is complemen[ ... ]

Inflation to drive more Florida business formations

December 24, 2022
Business Law

Inflation is driving record numbers of Americans to start new businesses, according to a recent report. With 40% of the adults in the state saying they want to start a new business, Florida could be one of the states with the most new business formations in 2023. These are some other interesting facts about this entrepreneurial trend. Changing technology and a shaky eco[ ... ]