Thinking About Buying a Business? Ask These Four Questions First

Purchasing a business is a big decision - and it’s important that you’ve thought through all of the details ahead of time. Here are five particularly important questions to consider. As always, we highly recommend that you speak to an experienced business attorney who can help you evaluate the specifics of your transaction before you proceed! Why is the current owner selling? If there’s some deep dark secret Read More

Attorneys, You’re Not Exempt: Why Your Firm Needs an Operating Agreement

Just like any other business, your law firm needs an operating agreement. Perhaps the biggest danger of failing to have an operating agreement is that without one, default state regulations will govern the business, sometimes with unintended consequences. One of the most critical things an operating agreement does is to define the structure of the business. For example, many states define LLCs as member-managed by Read More

Business Law Basics: Essential Elements of an Operating Agreement

Your business needs an operating agreement. But what should your operating agreement define? Below are several essential issues that must be addressed in your agreement: Ownership division. Is the percentage of ownership of the business based on financial contributions or other factors? And is this percentage of ownership directly reflected in the pay each partner receives and in the percentage of management Read More

Business Law Basics: Why Your Business Needs an Operating Agreement

Getting your new company off the ground? The first step from a legal standpoint is formally registering and structuring the business - but don’t stop there! (Many business owners DO stop there… and end up regretting it.) There are a number of additional legal documents which should be created, even though they aren’t required by the state of Florida. This proactive planning can save your business from a host of Read More

When to Use Pre-Paid Legal Services… and When to Hire a Lawyer

What is a pre-paid legal service? The term can mean several different things. A pre-paid legal service can be a consortium of lawyers who’ve banded together to offer discount legal services. It can be a plan that offers simple legal forms drawn up for a modest fee, or it can provide access to a database of legal forms. Is a legal service worth it? That depends. The reality is that many—maybe most—pre-paid legal Read More

Control Your Own Destiny: Five Reasons to Consider Launching Your Own Business

Starting your own business isn’t for the faint of heart. Building a business from the ground up requires vision, leadership, and endless amounts of energy. It requires a great deal of time and often a great deal of money. And there’s no guarantee of success. That said, building a successful business is incredibly rewarding.  It offers you financial and lifestyle rewards that most “traditional” jobs never will. I’ve Read More

What Your Business Needs to Know About Florida’s New Limited Liability Company Act

In 2013, the Florida Legislature unanimously adopted CS/SB 1300, a rewrite of Florida's limited liability company statute. It completely overhauls Florida’s current LLC act. This revision was made in an attempt to keep Florida  competitive with the rest of the country, hopefully retaining LLCs that might otherwise have left Florida. The Act became effective on on January 1, 2014, and currently applies only to LLCs Read More

Four Documents Every Business Owner Must Have

Every business needs a legal strategy. What you need to determine is whether you would prefer to make a small investment in preventative legal work or wait until you’re facing a lawsuit or dispute requiring ten times the amount of work (and fees).  What sets the Trembly Law Firm apart is that we actively seek to keep business owners out of the courtroom. While there is no way to completely eliminate the possibility Read More

Business Litigation: Ten Quick Tips to Keep You Out of The Courtroom

Getting involved in a lawsuit represents a serious expense for any business. While you can’t avoid the possibility of a lawsuit, here are ten things you can do to protect yourself. 1. Make sure your business is set up properly to limit your liability. If your business is a partnership, make sure the partnership is set up properly. The terms of a partnership need to be thought out carefully and discussed with an Read More

Business Litigation: Four Factors to Consider Before Settling Your Lawsuit

A lawsuit is stressful in many ways, and it is often tempting to settle as soon as possible just to put an end to the stress. On the other end of the spectrum, sometimes there is so much emotional involvement in the lawsuit that you’re reluctant to settle at all. To ensure you’re making the right decision at the right time, here are several things to consider. Emotion aside, what’s the bottom line? Is this lawsuit Read More