A buy-sell agreement is a document that reallocates the ownership of a business if one or more specified events occur. This type of agreement is commonly used when the owner of a business no longer wishes to own the business or is no longer capable of doing so. A buy-sell agreement can...
In Florida, a breach of contract takes place when one party to a contract fails to perform one or more contractual obligations. A breach of contract can occur between individuals or business entities. Often, a breach of contract leaves the non-breaching party in a difficult position, and it may result in...
As a business owner, it is important to take steps to protect your organization from liability. Unfortunately, however, legal disputes sometimes arise despite your best efforts. And when this happens, you may require the assistance of expert witnesses to strengthen your case. In this article, we discuss the role of expert witnesses...
For a business deal to work, the contracting parties must provide each other with accurate and truthful information. Unfortunately, this doesn’t always happen. Sometimes, a contracting party, either on purpose or inadvertently, misrepresents one or more materials facts to the other party. This practice is called misrepresentation. Depending on the circumstances, an...
As a business owner, it is important to always remain cognizant of the possibility of fraud. To put it simply: fraud can wreck your profitability, reputation, and more. Therefore, not only should you have a system in place to identify fraud, but you should also take steps to prevent fraud from...
A non-compete agreement, also commonly called a restrictive covenant or a covenant not to compete, is an effective way to protect employers from unfair competition by their ex-employees. Fortunately for Florida employers, courts in the state routinely enforce such agreements. In this article, we discuss the essential elements of non-compete agreements and...
Contracts are the backbone of the business world. Without contracts, parties in business relationships would be unclear regarding their expectations and responsibilities, thereby making the conducting of business extremely risky. So, as a business owner, it’s important to understand the basics of contracting. In this article, we discuss some important things to...
There are many advantages to starting a small business, including being your own boss and achieving financial independence. However, when starting a small business, there are also many opportunities for errors—many of which are legal in nature. Therefore, before starting a small business, it is advisable to seek legal guidance. In this...
There are many advantages to entering a business partnership. For example, entering a business partnership provides an opportunity to combine resources with another individual who may possess skills that you lack, and vice versa. In other words, a business partnership allows one or more people to combine their knowledge, skills, and resources...
A fiduciary is someone who holds a legal or ethical relationship of trust with another party. Thus, a fiduciary relationship entails being bound both legally and ethically to act in another party’s best interests. A breach of fiduciary duty occurs when a fiduciary fails to comply with his or her legal or...
