AN OVERVIEW OF FLORIDA’S DECEPTIVE AND UNFAIR TRADE PRACTICES ACT Part two of a three-part series The first article in this continuing series on Florida’s Deceptive and Unfair Trade Practices Act (FDUTPA) examined the purpose of FUDTPA, who the act seeks to protect, why the act is needed, and what […]
Regulatory Compliance causes many companies to proactively deal with information security. There are multiple federal laws that impact and regulate the protection of Personally Identifiable Information (“PII”)[1], some of the most well-known being GLBA[2] (regulating financial institutions), HIPAA[3] (regulating the healthcare industry), SOX[4] (regulating US public company boards, management and […]
Sometimes during the course of a disputed matter, you find out that one of the witnesses to the action is deceased. This presents a problem for obvious reasons since that witness was not deposed in the case yet. This situation often arose in a business litigation matter concerning the value […]
Part II: Engaging a Financial Advisor and the Drafting of the Engagement Letter Last month, I began a seven-part series on the legal consideration for buying, selling, or merging businesses, in which I introduced the mergers and acquisitions process, generally and briefly explaining the six most important steps: (1) engaging […]
Part I: Basic Overview of the Merger and Acquisition Process A primary goal for many start-ups and new businesses is to eventually sell the company, even if the founders intend to remain with the company. Selling your company can result in a gigantic payday and provide continued vitality for the […]
This author recently addressed the issue of deposing high level corporate officers, also known as apex employees. That blog post pointed out that, while the federal courts and some state courts have specifically adopted what is known as the “apex doctrine”, Florida’s courts have not specifically done so; our courts mostly follow the tenets of the doctrine, but it has not specifically been adopted, and some courts decline to follow that principle.
You have created your business plan and now you are ready to put your plan into motion and start your own company. The next step is to consider which business structure suits your business. A business can be structured as a sole-proprietorship, partnership, limited partnership, corporation, S-corporation, or a limited liability company. The limited liability company structure boasts many advantages, but also brings with it some disadvantages to consider.
A well thought out and properly drafted LLC operating agreement will deliver deadlock-breaking mechanisms that will aid the members of LLCs in avoiding the need for expensive, prolonged, and disrupting litigation. However, if the operating agreement fails to deliver deadlock-breaking mechanisms or these mechanisms fail, resorting to the judiciary and alternative dispute resolution offers members flexible substitutes to achieve a resolution through adversary proceedings.
Once the creditor obtains a decree from the court that the debtor made a fraudulent transfer, the creditor may collect on its claim under Florida’s Uniform Fraudulent Transfer Act (“FUFTA”), which provides creditors with various remedies. See a previous blog post on the various remedies under FUFTA, Remedies for Creditors […]
Starting a new business can be both incredibly exciting and substantially stressful, and many entrepreneurs hastily begin business without considering many important legal considerations in starting up. However, with legal guidance and proper planning, starting a new business can be easy, effortless (sort of), and smooth.