LLC Owners: Have You Really Limited Your Liability?

You registered your business as an LLC. Whew. Now you can relax, right? You no longer need to worry about personal liability from business debts. Unfortunately, it is not that simple. If a creditor is attempting to collect debt from your business but you do not have sufficient assets to satisfy the debt, the first thing a savvy debt collector will do is look for a way to invalidate your liability protection. The debt Read More

Elderly Exploitation: Don’t Be a Victim

Your parents saved money for you and your siblings their entire lives.  In their later years, mother moves into a nursing home during the latter stages of Alzheimer’s, after father has passed on.  A young man, pretending to be her son, has your confused and unsuspecting mother sign a power of attorney in his name.  By the time you learn about the impostor, all of your mother’s bank accounts have been emptied.  Tragic Read More

Busting the Myth of the “S-Corp.” as a Business Structure

“My business is an S-Corporation.” I’ve heard this statement hundreds of times from business owners and entrepreneurs. Even certain literature from our own State of Florida states “An S-corporation is also called a standard business corporation.”  Despite the confusion, there is actually no such thing as an S-Corp from a legal standpoint. The confusion sets in because an “S-Corp” is a common (and very useful) tax Read More

Start Strong: Four Tips for Building Business Partnerships That Last

Few things are more valuable to a business than a productive partnership, but nothing is more destructive than partners who don’t get along. Apple would never have gotten off the ground without the complementary talents and personalities of Steve Wozniak and Steve Jobs, and many other businesses profit from the diverse abilities that two partners can bring. But partners who are barely on speaking terms?  That company Read More

“He Ripped Me Off!” What Happens When Your Contract Is Breached?

In 2007, Rain, a Korean pop-star, canceled a show in Honolulu just days before the concert was scheduled to occur.  After a lengthy jury trial, Rain was found liable for breach of contract and was ordered to pay the Hawaiian concert promoter $5 million in punitive damages, $1 million for damages related to fraud, and $2,286,000 for breach of contract. Believe it or not, contract breaches are not uncommon, and not Read More

Organizing Your Business: The Advantages of an LLC

One of the first decisions you have to make about your new business is to choose your legal structure. Sure, this may not be the most exciting decision ever, but it’s critically important. One common legal structure for small businesses is known as a limited liability company, or an LLC. In this blog entry, we’re going to break down the basics of an LLC and highlight some of the benefits. Contact us today if you’d Read More

Trouble in Partnership Paradise: What to Know, and Do, If Your Business Partnership Is on the Rocks

Business divorces are common.  You and your partner had a million-dollar idea, the entrepreneurial fire engulfed you, and you eloped to the business wedding chapel hoping the love would last.  Now, your partner thinks he’s the next Bill Gates and you’re the one holding him back (he’ll later accuse your attorney of worse, as well as any other attorney that doesn’t tell him what he wants to hear, but we’ll save that Read More

Hiring a Contractor? Four Tips for a Safe and Effective Relationship

Working with an independent contractor is an effective to increase productivity without adding dollars to your payroll. Whether you hire a contractor to perform services outside of your expertise, or to handle a short-term spike in demand, contractors are a popular option for many business owners. Working with an independent contractor, however, can lead to legal nightmares if you don’t properly prepare.  It’s vital Read More

Five Reasons Why Strong Contracts Matter

Most businesses are not blessed with unlimited start-up capital.  Due to a tight budget, lack of time, or a myriad of other reasons, business owners often decide to write contracts themselves and hope for the best.  While watching every penny is prudent and a responsible way to operate your business, investing resources into your legal needs now can save you bundles down the road.  Here are five reasons why strong Read More

Miami Business Law: Five Important Elements of a Partnership Agreement

Starting a business is exciting, and if you’re about to take the plunge, congratulations! However, many business owners get caught up so fully in the excitement of launching, they neglect important steps in the process.  The item most often omitted is arguably the most vital - the Operating or Partnership Agreement. Even though it may seem unimportant at the time (“we’ll put everything in writing later!”), running a Read More