Category Archives: Business Law
The Differences Between Sole Proprietorship, LLCs, and Corporations
Limited Liability Company (LLC), Corporation, and Sole Proprietorship are all different types of business entities with distinct characteristics. The main differences between LLCs, Corporations, and Sole Proprietorships lie in the extent of liability protection, ownership structure, and tax implications. Sole proprietorships offer no liability protection, while both LLCs and corporations provide limited liability. LLCs… Read More »
A Lesson From Steve Jobs On The Importance Of Business Equity Structures
Steve Jobs became a household name when Apple busted on to the technology scene in the 1970s and has since become a bit of a legend to tech enthusiasts around the world. Perhaps lesser known, however, is the tale of Steve Jobs getting ousted from his own company in 1985. This story teaches an… Read More »
Business Equity – Best Practices How To Create A Fair And Transparent Equity Structure
Business equity refers to the value of the ownership interest or stake that the owners (or shareholders) have in a company. It represents the residual claim on assets and earnings of a business after all the debts and liabilities have been paid off. In other words, equity is what remains of the company’s assets… Read More »
What To Know When Starting A Business In Florida
Data from the US Census Bureau shows that an average of 4 million businesses are started every year. That average is from the past five years of business formation data in the United States. The onset of the pandemic in 2020 has driven a surge in new business creation, so the number of new… Read More »
Layoffs, Office Closings, And Your Obligation To Provide WARN Notices
If your company falls on hard times, and you have to lay off employees, you generally can do so without fear of lawsuits; Florida is, after all, an at-will employment state, and there is nothing in any law that says that you can’t lay people off when the company can no longer afford staff…. Read More »
What Florida Business Owners Need To Know
It’s no secret that Florida’s population is rapidly expanding. Palm Beach County has seen a surge in migration, especially during the pandemic, from residents in the Northeast, Midwest and even California. And with all the new residents comes many business owners looking to move their businesses to South Florida. However, it also brings many budding… Read More »
Thanksgiving 2020: A Warning to Restaurant Owners
The holiday season is almost upon us, and with cases of Covid-19 continuing to increase, it appears that, like everything else in 2020, the pandemic will change how we normally behave. A recent study found that people are planning on keeping gatherings smaller this year, and that 30% of hosts plan on taking temperature… Read More »
Despite Getting the Green Light to Open, Bars in South Florida Remain Closed
It’s official: Bars in Florida are now allowed to open at an indoor capacity limit of 50 percent, according to Florida Department of Business and Professional Regulation Secretary Halsey Beshears. At the direction of Gov. Ron DeSantis, Florida’s top business regulator, Beshears, issued an emergency order rescinding a previous order that halted the sale… Read More »
New PPP Loan Forgiveness FAQs Released
The Small Business Administration (SBA), in consultation with the Department of the Treasury, released long-awaited FAQs providing guidance to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans. Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program Flexibility Act,… Read More »
Will a COVID-19 Liability Waiver Hold Up in Court?
More and more businesses that are reopening are posting coronavirus disclaimers or requiring employees and customers to sign waivers, but there are questions about whether those waivers will actually protect businesses from liability. Will a jury really think that liability waiver is enforceable? While owners may think they are reducing the risk of a… Read More »
SBA Debt Relief for Small Businesses During COVID-19
If you’re the owner of a small business, you may be struggling to figure out any way to stay afloat during the coronavirus pandemic. Between navigating through potential loans and the Payment Protection Program, the government is certainly trying to do its best to assistant people just like you. However, if you haven’t already… Read More »
What the HEROES Act Would Mean for Small Businesses & PPP Funding
On May 15, 2020, the U.S. House of Representatives passed H.R. 6800, the ‘‘Health and Economic Recovery Omnibus Emergency Solutions Act’’ or HEROES Act. The $3 trillion bill includes a host of COVID-19 relief provisions, including $1 trillion for state, local, and tribal governments; an additional round of direct stimulus payments for individuals; repeal… Read More »
What the HEROES Act Would Mean for Small Businesses & PPP Funding
On May 15, 2020, the U.S. House of Representatives passed H.R. 6800, the ‘‘Health and Economic Recovery Omnibus Emergency Solutions Act’’ or HEROES Act. The $3 trillion bill includes a host of COVID-19 relief provisions, including $1 trillion for state, local, and tribal governments; an additional round of direct stimulus payments for individuals; repeal… Read More »
SBA Debt Relief for Small Businesses During COVID-19
If you’re the owner of a small business, you may be struggling to figure out any way to stay afloat during the coronavirus pandemic. Between navigating through potential loans and the Payment Protection Program, the government is certainly trying to do its best to assistant people just like you. However, if you haven’t already… Read More »
What Not to Do When You Reopen Your Business
Small business owners have been left without any clear guidance from local or state governments on how to go about reopening their businesses after coronavirus-induced stay-at-home orders are lifted. And without anything but vague advice from the Federal Government, business owners are left to figure out how to keep workers safe on their own…. Read More »
Keeping Up With Florida’s COVID-19 Executive Orders
Governor Ron DeSantis has continued to issue new executive orders in his effort to address the COVID-19 crisis in the State of Florida. Executive Order 20-103 has extended Executive Order 20-87, requiring vacation rental properties to temporarily suspend rental operations for the duration of the order, which now goes through April 30, 2020. The order… Read More »
Florida Insurance Commissioner Talks Business Interruption & COVID-19
Commissioner David Altmaier from the Office of Insurance Regulation (OIR) addressed a subgroup of the Governor’s Re-Open Florida Task Force this past Friday, April 24, 2020. He was delivering the sobering news that many businesses are now facing: their insurance policy may or may not cover the business interruption that so many have incurred… Read More »
Understanding Business Interruption Insurance
Business owners all over the country are struggling to get by amidst the coronavirus pandemic. Therefore, it’s important to understand the main types of business interruption insurance and what issues you may face when seeking coverage under your policy: (1) Business Interruption Coverage Business interruption insurance policies generally provide coverage for lost income and… Read More »
6 Mistakes to Avoid When Starting a New Business
Deciding to start your own business is an exciting experience. Thoughts immediately begin swimming in your head about being your own boss, becoming a success and maybe impressing all those doubters at your next high school reunion. Taking the steps to start your own business, on the other hand, can be not so fun…. Read More »
What is a Limited Liability Partnership (LLP)?
A limited liability partnership (LLP) is the preferred legal structure for many businesses in South Florida. It is a legal entity that allows business partners to put some limits on their personal liability. Here, our top-rated West Palm Beach partnership law attorneys provide an overview of the most important things that you need to… Read More »
