Author: Apfelbaum Martinez Law

Are you a thriving business owner in Florida who is starting your dream company? Or an experienced CEO managing your small business’s constantly changing legal environment? Whatever your position, the Corporate Transparency Act (CTA) is shaking things up a little in 2024. But hold on, haven’t we overcome enough legal obstacles already? Don’t worry, as this blog post will serve as your guide to understanding the CTA, its implications for your Florida business, and how working with a qualified Florida business lawyer may guarantee a seamless implementation of the law.

What’s the buzz about the CTA?

In simple terms, it’s a federal law that aims to prevent financial fraud by bringing to light businesses’ beneficial owners, or the people who ultimately control them. It was quite easy to hide ownership behind a curtain of anonymity prior to the CTA. Transparency has now become the standard.

Some main points for Florida businesses: 

• Who needs to comply? 

If your business was formed after January 1 2024, you’re officially a “Reporting Company” under the Corporate Transparency Act and must disclose your beneficial owners to the Department of the Treasury’s FinCEN.

• Who are beneficial owners? 

These are individuals who (a) own 25% or more of your business or (b) hold significant control over its decisions. Think majority shareholders, partners,or members, and even certain trustees in some cases. Even senior executives, such as CEOs, may be deemed beneficial owners due to their control over the reporting company.

• What needs to be disclosed? 

Names, dates of birth, addresses, and a unique identifying number (such as SSN, driver’s license numbers, passport numbers; and a picture of such document) for each beneficial owner as well as company applicants.

• Deadlines loom

Reporting Companies formed between January and December 2024 have 90 days to file their initial report, while entities formed after January 1, 2025 get 30 days. Companies existing before 2024 have a grace period until January 1 2025, to file.

If there is a change in (i) basic information of the company, (ii) beneficial owners (e.g., a transfer of ownership), or (iii) status as a Reporting Company (e.g., the company is now eligible for an exemption), then an updated report must be filed within 30 days of the change.

Pros and Cons for Florida businesses.

Pros:

• Enhanced security: 

The CTA possibly increases market trust by making it more difficult for criminals to employ anonymous businesses for illicit purposes.

• Financial crime crackdown: 

Law enforcement gains a valuable tool to combat money laundering, fraud, and other financial crimes.

• Level playing field: 

Transparency could even the odds for legitimate businesses by exposing unfair competition from shell companies.

Cons:

• Compliance burden: 

Gathering and reporting accurate ownership information can be time-consuming and costly, especially for smaller businesses.

• Privacy concerns: 

Some owners may have reservations about publicly disclosing their personal information.

• Potential misuse: 

The data collected could be misused by bad actors if proper safeguards are not in place.

How does this compare to the “old way”?

Florida had very few rules regarding the disclosure of beneficial ownership prior to the CTA. With the new law, it is now in compliance with stricter federal requirements, marking a significant move towards enhanced transparency.

The CTA is just one piece of the ever-evolving legal puzzle for Florida businesses.

Success requires being proactive and staying informed at all times. Through gaining an understanding of the law and its implications for your particular circumstance, you may transform compliance into a chance for openness, confidence, and eventually, a stronger presence in the thriving Florida market.

How can an experienced business attorney in Florida become an invaluable asset?

An experienced business attorney in Florida proves invaluable by navigating the state’s intricate legal landscape, especially concerning the CTA. They ensure compliance, prevent costly penalties, and offer strategic advice to minimize privacy risks during the reporting process. Beyond regulatory matters, the attorney might provide peace of mind, allowing business owners to focus on operations. In this way, a business attorney becomes a crucial asset, enhancing the business’s resilience and success in Florida’s dynamic business environment.

Don’t let the CTA leave you in the dark! Reach out to Apfelbaum Law, your trusted business attorney in Florida, and let us guide you through this new legal frontier with confidence.

How do I find a Business Attorney near me? 

In conclusion, it is crucial to understand the functioning of corporate transparency in Florida. Although this guide offers a general overview, consulting with legal experts such as Apfelbaum Law guarantees compliance and establishes a solid basis for your company. Read about other business concerns by clicking here.

Written contracts is essential in any business transaction. In addition to making the agreement between parties legally binding, contracts can also serve as future references, part of the business’s rules, and proof in the event of misunderstandings, complaints, or conflicts requiring litigation.

If you are about to start a new business in Florida or enter into any type of contract with a person or business and want to keep everything legal and clear between the parties, it is time to learn the actual importance of having a written contract officially drafted by a Florida business lawyer. Click here to read about how to write a business contract in Florida.

Why are written contracts important?

1. They may serve as proof of details

A written contract is crucial for start-up businesses and any type of relationships between businesses and/or individuals as it serves as legal proof of mutual agreements, providing a clear understanding of the agreement between company owners or investors, services provided by third parties, and payment obligations for hired workers. It ensures compliance with legal requirements. A business lawyer can help you state these things in the written contract as legal proof.

2. They prevent misunderstandings from arising

A written contract is a formal agreement between parties involved in a business venture or any transaction. Its main purpose is to provide a clear understanding of the terms and expectations reached after thorough discussion in order to avoid future complications. It serves as a reminder that the transaction should be taken seriously.

3. They provide security and peace of mind

A written contract usually offers security and peace of mind for all parties involved in a business transaction, such as an employment contract. It outlines duties, responsibilities, payment, and the overall relationship between the parties involved.. A written agreement provides protection in the event of a breach.

4. They guarantee confidentiality

One of the most significant advantages of using written contracts in business negotiations is the possibility of agreeing on confidentiality and non-disclosure measures that protect sensitive information. As part of the agreement, the parties involved are legally bound to keep the transactions and information discussed among them confidential, and any party who violates this confidentiality agreement will be held liable under the agreement.

5. They avoid expensive litigation proceedings

When one of the parties to an agreement breaks the contract, a business lawyer may use the written agreement as a general reference on what the parties agreed to and who is truly at fault. Having a written contract readily available minimizes the chances of bringing the problem to litigation or perhaps dragging litigation longer than required, which could be very costly and time-consuming.

6. They serve as an official record of the business agreement

A written contract serves as an official record of what the parties have agreed on. For example, it specifies the level of authority that has been granted to firm owners or managers, the completion date of any task contracted to a service provider, payment for completed work, or simply stating who or when to terminate a contract.

Additional tips and warnings

Written contracts are voluntarily made and considered a vital component of any business transaction, especially if great risks are involved. Always consult with a business lawyer to draft a contract that is specific to the needs of your business. A well-crafted “form” contract can help speed transactions while also ensuring enforceability in the event of a breach.

How do I find a business lawyer near me?

In conclusion, drafting any type of written contract for any business transaction in Florida is a vital step. While this guide provides an overview, seeking legal counsel from professionals like Apfelbaum Law ensures compliance and sets a strong foundation for your business.

Are you planning your business’s future in Florida’s lively landscape? Understanding the key steps to getting your business registered in Florida and obtaining a business license in the Sunshine State is critical before embarking on your entrepreneurial journey. Whether you’re creating contracts, running a small business, or operating a storefront, registering your business and getting a business license is the first step.

Understanding Florida’s Business Requirements

Some common questions business owners who plan to operate in Florida may face include: “Is a business license required in Florida if I sell online?” “How do you register a small business in Florida?” “Do I need a business license to be self-employed in Florida?”. To operate in Florida, not only does your business entity need to be registered in Florida, but most businesses in Florida require a license to operate legally. This license serves as the official state, county, and/or city authorization to run your business within its regulatory framework. It’s a necessary certification that assures clients and partners that your company complies with applicable legislation. Operating without having your business registered to do business in Florida or without a business license may have consequences. Click here for further information.

Navigating the Business Requirements

Essential steps:

1. Establish your business structure

Are you a sole proprietorship, partnership, corporation, or limited liability company? Knowing what type of business entity you have is crucial not only for operating any business but also for the registration and licensing process.

      2. Choose a business location:

The location of your business impacts the licenses and permits you’ll need. Municipalities have zoning regulations and local ordinances to consider.

      3. Register your business:

How do you register a small business in Florida? Registering your business with the state involves:

              a)Choosing a business name

              b) Acquiring an EIN (Employer Identification Number)

              c) Filing out the necessary documentation.

Look into our website to find out more information on how to register your business.

Registering Your Business in Florida

Where to Register your Business

In Florida, the Department of State’s Division of Corporations is the main authority for business entity registrations. To begin the registration process, you can go to their website or could physically visit their office.

Can I get a Business registered online?

Yes, Florida’s Sunbiz website allows for online business registration. This digital platform simplifies the registration procedure, allowing you to easily create and manage your business filings.

Registering your Business online:

• Visit the Sunbiz website: 

Access the Sunbiz website through the Division of Corporations’ online portal.

• Choose your Business structure: 

Select the appropriate business entity type—whether it’s a partnership, corporation, or limited liability company (LLC).

• Provide Business information: 

Provide critical information such as your company’s name, address, sort of business, and other pertinent information.

• Submit required documents: 

Upload the necessary documents, which may include Articles of Incorporation, Articles of Organization, or other relevant paperwork depending on your business structure.

• Pay registration fees: 

Pay the applicable fees for registering your business. The fees vary based on the business structure and other factors.

• Review and confirm: 

Before final submission, review all the information to ensure accuracy.

• Receive confirmation: 

Upon successful submission and processing, you’ll receive confirmation of your business registration.

• Obtain an Employer Identification Number (EIN): 

If your business structure requires an EIN, you can apply for it directly through the IRS website. This number is essential for federal tax purposes.

Seeking Legal Counsel

While it is possible to register your business online, receiving advice from a business lawyer, such as those at Apfelbaum Law, can be extremely helpful. They can assist to make sure that your registration complies with legal standards, avoid any problems, and provide personalized guidance to meet your specific business needs.

How do I find a business lawyer near me?

In conclusion, obtaining a business license in Florida is an important step for entrepreneurs. While this blog provides an overview, seeking legal advice from professionals such as Apfelbaum Law attorneys assists with compliance and establishes a solid foundation for your organization.

Remember, this guide is only a starting point; seek specific assistance to efficiently manage your unique business situation here.

Starting a business is an exciting adventure that is driven by enthusiasm and the desire to create something useful. However, the main question usually is: Is it possible to operate a business in Florida without a license? Many prospective entrepreneurs, CEOs of small businesses, and even individuals running their own stores face this dilemma, especially when trying to cut startup costs. Let’s look into it to learn about the risks, consequences, and importance of getting legal counsel from experienced business attorneys like the ones at Apfelbaum Law.

Operating Without a License in Florida

In Florida, depending on your type of business or profession, operating a business without a formal license can result in serious legal consequences. While the temptation of skipping steps in the process may appear financially favorable at first, it is critical to understand the risks that may be involved

Penalties and Legal Consequences

Florida state law requires certain businesses to obtain the necessary licenses to operate legally. Functioning without an appropriate license can result in serious penalties, such as significant fines or even the closure of your business. Understanding the potential legal consequences is essential for protecting your business and, sometimes, even your profession.

Defenses and Misconceptions

Some people might mistakenly assume that some types of companies, such as independent contractors, do not require a license. However, even independent contractors may need specific permits or licenses to operate legally. Seeking guidance from an experienced business lawyer is highly advisable to assess each particular case.

Exploring the Requirements for Different Business Types

Businesses Requiring Licenses

In Florida, certain businesses require specific licenses to operate legally. For instance:

• Professional services: Fields such as law, medicine, accounting, and real estate require professional licenses to ensure compliance with industry standards.
• Food and beverage: Restaurants, bars, and catering businesses often require health permits and alcohol licenses.
• Construction and trades: Contractors, electricians, plumbers, and other similar trades frequently require state-issued licenses.
• Transportation: Taxi services, trucking organizations, and transportation networks all need permits and licenses to operate.

Businesses Not Mandated to Have Licenses in Florida

While some businesses do need licenses, others fall into a different category:

• Independent contractors: While they may not require a business license, depending on the nature of their job, they might need specific permits. Contractors working on projects such as roofing or plumbing, for example, may need specific trade licenses.

 

• Online businesses: In some cases, home-based online businesses may not require a general business license but may need permits or registrations based on the goods or services offered.

To avoid legal problems, it is important to research and ensure compliance with Florida business rules. Even if a general business license is not necessary for certain ventures, specific approvals or permits may still apply.

The Important Role of a Business Lawyer

The challenges of launching a business in Florida require knowledge and experience. Choosing the right skilled business lawyer/attorney, such as those at Apfelbaum Law, can be of significant assistance. They specialize in:

• Writing contracts that protect your interests and ensure legal compliance with the law.
• Assisting with the acquisition of relevant licenses and understanding the process.
• Providing information about the costs and procedures involved in obtaining a Florida business license and even incorporating your business.
• Providing legal defense and solutions in situations when a business is operating without a license.

How do I find a Business Lawyer near me?

In brief, hiring the right business lawyer is a must for your company’s success and protection in Florida. Do not wait until legal issues turn into a crisis; instead, get legal counsel as soon as possible. Hiring the right business lawyer early on can be one of the wisest decisions you make in your career.

At Apfelbaum Law, we are here to walk you through every step of your business journey in Florida. If you have questions or need legal advice, please contact us!

Are you a new entrepreneur, the CEO of a startup company, or a shop owner trying to strengthen your business relationships in Florida? Understanding how to draft a complete and legally binding business contract is a vital step towards protecting your interests and ensuring agreement clarity.

The Importance of Business Contracts

Any business owner who wants to be successful must, among other things, be able to draft a good business contract. It defines the rules and circumstances of a business relationship, providing a clear roadmap for all parties involved. These contracts serve as vital instruments in Florida for establishing deals, partnerships, leases, employment ties, and more.

Key Elements of a Business Contract

Let’s take a closer look at the key components of a well-structured and legally sound business contract, as we will illustrate with examples.

1. Identification of Parties: 

In a partnership agreement, clearly identify each partner and outline their responsibilities. For example, “This partnership agreement is entered into between John Doe, and Jane Smith.”

2. Detailed Description: 

Provide a detailed description of the products or services when engaging in a sales contract. For instance, “The seller agrees to deliver 500 units of Product A, as described in Exhibit A, by the 15th of every month.”

3. Terms and Conditions: 

A service contract should outline the responsibilities of each party. “Seller shall be responsible for the demolition and cleanup, while Buyer shall be responsible for keeping the area clear prior to commencement of work”

4. Clauses for Dispute Resolution: 

Include clauses for settling disputes in an independent contractor agreement. “In the event of a dispute, both parties agree to attempt mediation before pursuing legal action.”

5. Signatures and Dates: 

All parties should sign and date every contract. “This agreement is signed by [Name] on [Date], indicating their acceptance and understanding of the terms.”

Types of Business Contracts in Florida

Florida law recognizes several types of business contracts, each with a distinct purpose:

• Sales contracts: For example, an agreement between a supplier and a retailer that outlines the terms of goods delivery and payment.
• Partnership Agreements: A contract between business partners that specifies the roles, profit-sharing, and decision-making processes.
• Employment Contracts: Agreements between employers and employees that define roles, responsibilities, salary, and employment terms.
• Lease Agreements: Contracts between landlords and tenants that outline the terms and conditions of renting or leasing a commercial property.
• Service Contracts: Contracts between a service provider and a client that outline the services offered, payment arrangements, and deliverables.

The Structure of a Business Contract

A well-structured business contract often follows the following logical sequence

A. Title and Introduction: 

State the type of contract and introduce the parties involved. For example, “This Employment Contract is entered into between [Company Name] and [Employee Name].”

B. Recitals: 

Give the agreement context and background information. “Whereas, the parties agree to enter into this agreement to define the terms of their business relationship.”

C.Terms and Conditions: 

Establish each party’s obligations, rights, and responsibilities “The company shall pay the contractor  compensation of $X per month, in return for fulfilling their duties as outlined in Exhibit B.”

D. Clauses: 

Include specific clauses for payment, delivery, terms of termination, dispute resolution, etc. “Both parties agree that any dispute arising from this agreement shall be resolved through arbitration.”

“This agreement shall terminate on X date.”

“Tenant agrees to pay the sum of $_____ per month for X consecutive months on the first day of each month.”

E. Signatures: 

All parties involved should sign and date the contract. “Signed and agreed by [Name] on [Date], acknowledging their acceptance and understanding of the terms.”

Why Seek a Business Lawyer or Attorney

The provided examples, though good guidelines, are simplified illustrations and therefore require legal expertise. Hiring a business lawyer is highly recommended for drafting a formal contract, ensuring it aligns with Florida’s specific legal requirements and tailors to your unique needs. Keep in mind that a well-written business contract safeguards your interests and minimizes potential risks.

How do I find a Business Lawyer near me?

In brief, hiring the right business lawyer is a must for your company’s success and protection in Florida. Do not wait until legal issues turn into a crisis; instead, get legal counsel as soon as possible.

At Apfelbaum Law, we are here to walk you through every stage of your business journey in Florida. If you have questions or need legal advice, please contact us! 

How Would a Business Transaction Lawyer Help Me?

A Florida business transaction lawyer can help you with a wide variety of situations you may encounter in business. They can assist with setting up a new company, or selling or dissolving an old one. If you run into disputes with other businesses or individuals, a business lawyer can help you work them out. In some situations, you may need assistance dissolving a partnership or otherwise changing the ownership structure of your business. Your business transaction lawyer can help with drafting and negotiating contracts, to reduce the risk of legal problems in the future, as well as making sure loan paperwork is properly processed and saved.

Starting a New Business

Making the decision to start a business can be exhilarating, but it can also be confusing. There are so many questions that arise immediately. What business structure should you choose? Should you be a sole proprietor or should you form an LLC? What about incorporation, and which type of corporation can you start with? Can you change it later if need be? What paperwork do you need to file to protect your business, intellectual property, etc.? These are just a few questions a Florida business transaction attorney can help you answer. Your lawyer should take the time to ask questions about your business and your plans for the future, then advise you on your options so you can make an informed decision.

Buying or Selling a Business

While starting a new business can be exciting, there are also advantages to buying an existing business. Everyone has different skills and abilities. While some people may excel at coming up with new business ideas, others may be better at taking an existing company and growing its sales. There may also be less risk in purchasing an already solvent business than in starting a new one on an unproven idea. However, there are also many things to consider before choosing a business to buy:

• Due Diligence. In general, this part is easier if you have some knowledge or understanding of the industry the business fits in. You will need to thoroughly research the company, its positioning in the market, its financing history, its target market or customer base, etc. You’ll also need to know about potential debts or other liabilities, such as pending lawsuits against the company. Additionally, you need to know all about its assets—intellectual property like patents and trademarks, leased equipment, current inventory, company vehicles, buildings or other business holdings, etc.

Financial and tax records may be complex and difficult to understand for the layperson, even if you’re familiar with the industry itself. Your lawyer may be able to notice inconsistencies, or they may recommend you retain a forensic accountant to ensure you’re getting a clear picture of the business. Next, you need a list of current contracts, the business’ biggest customers, current marketing plans, and purchasing policies. Don’t forget tax records, professional associations, and publicity or news mentions.
Personnel is important too. You’ll want a list of employees and their compensation—salaries, benefits, workers compensation, unemployment claims, and any history of labor disputes within the company. 
The hope is that the seller will be forthcoming about these issues, but that isn’t always the case. Your Florida business transaction lawyer can help you do a thorough job of checking out whatever info you’re given and learning what you need to know about the business.

• Business purchase vs. asset purchase.  It is important that you consider whether you want to purchase the entire business entity or solely the assets of the business.  Your Florida business lawyer should be able to assist you in understanding the differences and ramifications of each of these types of transactions, and discuss the alternatives and terms to assist you in making an educated decision.
• Zoning Issues. With a brick-and-mortar store location or factory, it’s important to make sure the location is zoned for the type of business being run there. Just because the current owner hasn’t had any problems doesn’t mean you won’t. If officials find out the business isn’t properly zoned after you buy it, it becomes your headache.
• Licenses and Permits. These don’t always instantly transfer to the new business owner. In some cases, you personally will need to get licensed to operate a specific kind of business. This is especially common with tightly regulated industries such as any business that sells or serves alcohol or tobacco products.

It’s not uncommon for clients who are very knowledgeable about a specific area of business to be less informed about licensing or zoning issues, especially if they previously had a partner who handled those issues. It’s also important to remember that zoning and licensing requirements vary based on county and city statutes, so what you did at a previous business in, say, Stuart may not work for a new business situated in Port St. Lucie. Fortunately, a business transaction attorney can help you understand what you may need to do to operate a business legally in your local area.

• What Resources You’ll Have to Start. Will the seller offer any training on how to run the business? Or are you expected to figure it out yourself? If the seller promises help, this should be spelled out in the purchase agreement.
• Concerns About Escrow and Refunds. You may want to ask for the right to cancel the sale during a specified period of due diligence, with your money held in a refundable escrow account during that time. This may protect you if you find out something alarming during the due diligence phase.
• Financing. You and your attorney should discuss whether you want to seek financing from the seller or a financial institution. 
• Non-Competition Clauses. These give you peace of mind that the buyer won’t start a competing business right after selling you their old one or would go to a competitor and work for them. They can be particularly important in situations where the business isn’t based on some copyrighted or otherwise protected intellectual property, such as retail stores that sell goods purchased from other companies. They are also important if your company is in a small area where both the business and its owner are popular and well-respected.  Notwithstanding, non-competition covenants are also important if you are trying to protect relevant information that you acquired with the business.

For example, if Bill sells his surf store in Stuart to Ted, then Bill goes and opens another surf store down the street, customers might flock to Bill. Bill has been in this area for years and the customers really respected him, his advice, and his knowledge. Sure, they could buy surfboards and wetsuits in a lot of places, but Bill could always recommend exactly what they needed. Some of them may have surfed with Bill and consider him a friend. In this kind of situation, many of Bill’s customers would likely follow him to his new store. Now Ted’s new surf shop is empty and most of the revenue it enjoyed when Bill owned it left the building with Bill. To avoid a situation like this, Ted could ask his Florida business transaction attorney about including a non-compete clause. Typically, these clauses are limited in scope, to a specific time frame, and location. So, Ted’s attorney might ask that Bill promise not to open a similar business within a thirty-mile radius of the store for the next three years. This would give Ted time to build his own customer base and create a rapport with them, the same way Bill did. 
Non-compete clauses are easier to enforce in court if they are reasonable. Asking for too large a geographical area may be both unnecessary and legally problematic if the business consists of one physical location. However, if Ted was purchasing a business with multiple locations across the state, the clause might specify that Bill won’t open a similar business in the entire State of Florida. Because the business operates throughout the state, this would likely not be overreaching as it would for the single store in Stuart. In either situation, this non-compete clause shouldn’t be a problem for Bill if he plans to retire, to move away, or to go into some other business.

• Non-Competition Clauses. Similar to non-competition clauses, non-solicitation clauses would prohibit the other party from soliciting customers, employees, or other individuals.  Your Florida business transaction lawyer would help you draft a non-competition provision that would address your concerns. 
• Writing or revising the purchase agreement. It’s essential that you have the help of a business transaction lawyer for this part. If the contract is written by the seller, you may find some of the terms are unfavorable to you and should be negotiated over. For example, your attorney may be able to negotiate that the price is contingent on some numbers of sales/revenue within a specified period after the sale, like six months or one year. This can protect you in situations where you buy a business that regularly sees $100,000 a year in profits, but for some reason it only produces $20,000 the next year.

If you’re not a trained lawyer, trying to write your own purchase agreement is not recommended. There are far too many things to think about and address, and you don’t want to risk leaving out something important because you just didn’t think of it. Yes, there are preprinted forms you can buy or print off the internet, but they are one-size-fits-all and may not address important details of your specific situation.

Is Selling a Business Less Complicated Than Buying One?

It would be more accurate to say that selling a business is complicated in different ways. There are several legal considerations to keep in mind when selling your business, including:

• Tax Considerations. Often, the estimated revenue from a sale sounds a lot better before you realize how much of it you’re going to pay in taxes. It is important that your Florida business transaction lawyer assist you, together with your accountant, in having tax as a consideration when selling your business.
• Negotiations. Your attorney can help you negotiate the most advantageous deal and may revise the sales contract multiple times until you are happy with it. 
• Closing Paperwork. When the deal is completed, there will be multiple papers you need to sign to legally transfer ownership of the business and the assets of the business. Your Florida business lawyer will ensure that all of these are properly signed, so there are no future difficulties for you or your buyer.

Avoiding Legal Disputes in the Future
Acquiring the services of a skilled business attorney for corporate transactions can also help reduce the risk of costly, time-consuming disputes in the future. By ensuring both parties are on the same page, a properly written contract can head off many disagreements before they start. Often, business disputes stem from a breakdown in communication or understanding between parties. By bringing various issues to your attention, your attorney can help you figure out what your expectations are for the transaction. The same is true of the other party or parties. Your Florida business lawyer may be able to work things out in negotiating the contract that you might have argued in court about later.

Selling or Buying Business Assets

Maybe you aren’t buying or selling a business. Your company may need many different assets to operate—real estate holdings, vehicles, various kinds of equipment, and supplies. For small things, you can go to a local store and charge what you need on the company credit card without too much risk. If you don’t like your new break room coffee machine, you can take it back to the store. But, with larger purchases, you may have some concerns. What if you buy a whole fleet of trucks for your delivery business only to discover most of them are falling apart and not in the condition advertised? What if your new building has undisclosed issues with the foundation, electrical grid, plumbing, etc.?
In the same way that buying or selling a business requires you to address multiple issues, so does buying or selling any large asset. Your Florida business transaction attorney will help you through many of the same steps noted above for your real estate purchase or sale, or any other large investment. In this way, you may be able to reduce much of the risk.
If you need assistance with your business transaction or have questions about any potential legal matter, please contact Apfelbaum Law for a consultation. We have offices in Port St. Lucie and Stuart, but provide legal services throughout the Treasure Coast and Florida.