The Business Firm
for Business People

If you incorporate as a business in Florida, one of the things you must do in order to keep your corporation valid (and to avoid personal liability for the company) is to meet with your shareholders. Shareholder meetings are often perceived as giant and almost ostentatious affairs with large ballrooms filled with eager shareholders. Luckily for you, this is the exception, not the rule, for how shareholder meetings Read More

Finding the right brick and mortar to anchor your business can mean the difference between success and a more difficult road to success. With the phrase “location, location, location” probably running through your head on a loop, it is no wonder you can easily get overwhelmed with the task. Here are a few tips on how to find the right spot for your shop without bankrupting your business before it even starts. 1) Read More

Let’s face it. To run your business, you need vendors who can help with any number of services or items that are critical to your operations but are not in your area of expertise. While many vendors are moving toward standard form contracts for the sake of uniformity and consistency, it is still possible to have a negotiated contract with a vendor. Regardless of whether your vendor is asking you to sign a standard Read More

Last month I was lucky enough, along with just 10 other people, to get a private hour with Daymond John from NBC’s Shark Tank.  If time is money, then this was an extremely valuable hour, and I intended to make the most of it.  Some people in the small room asked questions about Shark Tank, some made small talk.  My goal for the session - which I planned out ahead of time - was to figure out how Sharks like Daymond Read More

“Let’s shake on it” might still seem like one way to do business, but in the big and complex world in which we live, handshake deals are not getting much of a shake anymore. In Florida, like the rest of the country, there are a few contracts that by law must be in writing, but most contracts do not have to be writing to be valid and enforceable. Like any contract, to be enforceable the handshake deal must have an Read More

You have found the person with whom you want to spend a great deal more time and collaborate on ambitious and great things. You should probably make it official with an offer letter. This is not an offer of marriage, but rather the offer letter you give to the person you want to hire. Considering that this may be a mutually beneficial long-term relationship, it is worth the effort and investment to do it right at the Read More

The short answer to the question is no. Non-disclosure agreements (NDAs) and non-compete agreements (NCAs) are related but they are definitely different agreements with different purposes. Both, however, are usually expected to be signed by employees, contractors, and others who work with trade secrets or other proprietary information prior to being given access to that information. Non-disclosure agreements are Read More

Everyone is encouraged to have life insurance because it is, in some cases, the last and best chance for your survivors to get some amount of money upon your death. Many employers include life insurance as a perk, and in some cases, certain individuals are required to buy it, depending upon their importance to the financial future of a business. Like all insurance, however, the final determination of whether or Read More

Shareholders in corporations play an interesting role in governing those corporations. By virtue of owning a small portion or “share” of the company, a shareholder has some power to affect change within the corporation, including actions against the corporation. There are two main types of actions against a company: direct claims and derivative suits. What does each mean? Direct Claims If a shareholder is Read More

The contract has been signed, the money has been sent, and, most importantly, the keys and the customer list have been handed over to you. You’re in business, right? Maybe. If you buy a business, it is very possible that you are buying not only the assets but the liabilities of the business as well. Buying a business is different than buying just about any other asset. Real estate can come with some strings, but Read More