Florida has one of the fastest-growing economies in the country, and this has made room for business law in Florida to thrive wildly in it.
The state has laid down laws for business operations that must be strictly followed. The purpose of this business
Business law in Florida
Laws are to regulate businesses and enterprises and ensure that no one is exploited or used.
Unfortunately, thousands of business owners and intending business owners in Florida do not know these business laws. They are oblivious to what to do when faced with a business crisis.
The business laws of the state of Florida may look complex and tricky to a person with no legal background.
That is why as a business owner or intending business owner in Florida, you must get in touch with a Florida business attorney to guide you on the necessary steps.
You must not attempt to handle a business, especially the legal aspect of your business, by yourself. You have spent lots of money starting up and running your business.
The last thing you wish for is to see the company you have invested a lot of resources into crumbling or even dying off entirely.
Business owners or intending business owners in Florida are always advised to engage the services of a business law attorney to help handle issues no matter how little they might seem.
Also, in making decisions that concern your business, get a business law attorney involved who will advise you on the legal implications of the actions you are about to take.
For a better understanding, we will look at some business laws in Florida below to give you basic knowledge of them.
Business Start-up in Florida
Starting a business in Florida involves a lot of due processes that must be followed. When you are about to start up a business, there are things you must first determine.
Such as the nature of the business you intend to start up, the scope and size of the company, the number of administrators to be involved, etc.
All these and more you must lay out if you want your business to thrive and stand the test of time in the competitive business world.
Starting up a business without legal expertise is putting your business in jeopardy and crashing the business even before it rises.
Business Registration in Florida
No one nurtures a business idea and suddenly decides to start a business without taking specific steps. Florida business laws require every company to be registered correctly.
Registering your business gives it recognition before the law. You must first receive specific licenses before you can be said to lawfully run a business in Florida.
This stage is a significant step to owning and running a business that must be done properly and by Florida business laws.
You need a business law attorney to assist you with this, as an attorney will be better able to know the pertinent licenses you must obtain to start.
Mergers and Acquisitions
It is common in Florida to see two or more business enterprises coming together to join resources and be recognized as one body. This is referred to as the merging of businesses. Several factors can lead to this decision, and it must be mutual.
That is to say, the executives of both companies must agree. Any merge done under duress, undue influence, fraud, or misrepresentation of facts is considered thanks and void before the law.
The terms and conditions of the merger must be expressly stated in a contract and endorsed by both parties.
Acquisition, on the other hand, is somewhat similar to mergers; however, in this case, a particular business buys the resources of another entirely primarily for expansion.
Some companies appear to be flourishing but are gradually heading to bankruptcy. Acquiring an already existing business is more complicated than it looks.
You will require an expert in that field to advise you on the advantages or disadvantages that come with that decision.
If you wish to merge with or acquire an already existing business, ensure that you get an expert involved from the beginning.
This is why you must be careful not to sign off on an acquisition immediately after you have the papers. Do well to contact a Florida business law attorney to look into it from a legal point of view and advise you accordingly.
Business Dissolution
Circumstances may arise when running a business, and the best option would be to dissolve the business. However, dissolving a business is not something you can do just by snapping your fingers.
Business dissolutions may seem not to require much, but in reality, there are laid down processes for this, too, under Florida business laws. The procedure for dissolving a business in Florida varies for different business types.
For example, the procedure required to dissolve a sole proprietorship business differs from what is required in dissolving a partnership business.
From communicating with the parties involved to filling out the business dissolution forms in Florida to publishing a notice of dissolution, you will need a business law attorney.
Usually, the mode for dissolving a business is stated in the contract or document, creating the business from the beginning. Where you have such express requirements, they must be strictly followed.
Avoid lawsuits from interested parties, and be sure you involve a business law attorney while dissolving a business to remain within the ambit of the law.
Business Litigation in Florida
Every party to an adequately created contract must adhere to the terms. In business, it is common to see persons or corporations breaching agreements or going on a spree of their own.
Where there is a breach, the affected party can take the matter to court. Other situations too may arise that will require bringing the matter before the court for determination.
Whether you are suing or being sued, contact a business law attorney immediately to represent you and your business in court.
Why You Need a Florida Business Law Attorney
Every business owner or intending business owner needs expert involvement, no matter how business-inclined you are.
Your business transactions must always be done according to Florida business laws to avoid being flagged down. A business law attorney has much experience in the field and will:
- Advise you.
- Negotiate on your behalf in transactions.
- Draft contracts and necessary documents needed.
- Represent you and your business in court and panels, etc.
How to Contact a Florida Business Law Attorney
Finding a business law attorney you can trust should not be a problem. At Attorney Directory, you will connect with the best Florida business law attorneys without hassle.
FAQs About Business Law in Florida
Q: Must I have a physical office for business in Florida?
Ans: The law mandates every enterprise documented as an entity to have a ‘Principal Office’ at the time of registration.
Q: Can the owner of a company be sued personally?
Ans: In some situations, yes. This largely depends on the type of business in question. Where it is an LLC, the other cannot be sued personally for the business’s fault.
However, the owner may be sued personally when it is a sole proprietorship business. In a partnership business, the owners may also be sued personally to the extent of their liability.
Q: Must a business feud be resolved in court?
Ans: No, it must not. On the contrary, most business owners prefer to settle whatever conflict arises between themselves. Taking your business and internal issues to the court may sometimes become messy and leave the company’s reputation in shambles.
This is why there is the option of mediation between the parties involved. When both parties settle and reach an agreement, the agreement must be written and signed.
This makes it binding on both parties. Where the parties cannot reach an agreement, the matter can be taken to court for determination.
Q: How do I create a corporation?
Ans: To create a corporation, you will need to: incorporate the name and business, get an EIN number, develop bye-laws, appoint the board of trustees, allocate shares, create all necessary documents and file them, etc.
You will need the help of a business attorney to direct you appropriately on all you need to do.
Q: What do I do when someone breaches a contract?
Ans: When you believe a person you entered into a contract with breaches it, you first need to speak with a business law attorney to ascertain if, indeed, there was a breach.
This is to avoid frivolous claims and waste of time. Usually, the violation will be determined from the express terms of the signed agreement you entered into from the very beginning.
With the help of your business law attorney, if it is certain that there was a breach, then several options are open to you. These options include the demand for restitution or reinstatement. You can also take up the matter to court.
Q: Can I sue a person for breaching an oral agreement?
Ans: Yes, you can. Although oral contracts are pretty tough to prove, they can be enforced.
Q: I have more questions to ask on certain aspects of business law in Florida that concern me. How do I go about it?
Ans: Connect with a Florida business law attorney to get clarified.
