For most businesses, your intellectual property is your lifeblood. It is your right to be the sole benefactor of your innovations and hard work. Your patents, trademarks, and copyrights are the things that make your company unique, and they are meant to act as a shield against those who would seek to leverage your intellectual...
Trembly Law
As a director in a corporation, you owe certain duties to other constituents in the corporation. Chief among these are the duties of loyalty and care. Generally, the duty of care refers to using due diligence in making decisions on behalf of the corporation. Most decisions made, if in good faith, are given very deferential...
When deciding how to put together a proper executive compensation package for directors and officers, there are many options to consider. Executive compensation packages can include a number of options: stocks, salary, or even other perks. Courts often have a difficult time deciding whether or not an executive compensation package is appropriate and will only...
During the course of a partnership, many unforeseen events may transpire. Some of these events may ultimately lead to the dissociation of a partner or dissolution of the partnership. The dissociation of a partner or dissolution of a partnership has huge ramifications. Even more importantly is whether such actions were done rightfully, wrongfully, or neither,...
If you are an owner in a limited liability company, or LLC, you must have an operating agreement. Although the Florida statute governing LLCs does specifically require an LLC to have an operating agreement, for the sake of your company, you must have an operating agreement. Many business owners, when forming their company, are too...
The duty of good faith is often subject to interpretation in courts. There is no set jurisprudence nor a widely-adopted view of what constitutes good faith. However, the duty of good faith is universally adopted as being owed by directors and officers in their corporate capacities. There are, however, some instances universally recognized by courts...
If you are incorporating in Florida, you must, by law, choose a registered agent for your corporation. The name of this person must be included in your corporation’s articles of incorporation. The importance of an agent cannot be understated. The purpose of the agent is to receive legal documents on your corporation’s behalf. If your...
The first thing to keep in mind regarding the valuation of a business is that there are many different methodologies for valuation. Some methods may weigh income more heavily as a factor, while others may look more closely at “market value” based on other similar assets that have been sold recently. A company’s valuation could...