Recently I spoke with a prospective law firm seller. A buyer had expressed interest in her firm as a way to add a new practice area with an existing client base, but the terms hadn’t been finalized. As we delved into her expectations for the sale, she told me she wanted to work for the […]
You Have to Leave Something for the Buyer Read More »
Deciding what type of business entity to form and what state to form the business entity in can be especially troublesome choices for business owners. Florida business owners tend to pay much more attention to the differences between the business entity types and overlook the significance of the state of incorporation. Yet, these choices are
The Hidden Costs of Doing Business in Florida Read More »
Updated: January 2020 This post was updated in Jan. 2020 to reflect the massive changes that were made to the Florida Business Corporation Act (Sec. 607) and the minor changes that were made to the corresponding Revised LLC Act (Sec. 605). Shakespeare famously wrote, “What’s in a name?” If you’re a business owner, quite a
Three Considerations When Naming Your Florida Corporation or LLC Read More »
Business owners use business entities to protect their personal assets from business debts and creditors, to separate management of the enterprise from ownership, and to enable outside investment into the business. A properly created, structured, and operated business entity can limit the risk to an owner’s personal assets. It can be difficult to decide which
Back to Business Basics: Corporations 101 Read More »
For those that are outsiders to the business world, the nomenclature, acronyms, and abbreviation systems can cause frustration. This is especially true with business entities. The possible abbreviations seem endless: GP, PA, LP, LLP, PLLC, LLC, Co, Inc. We aren’t going to try to wade through the sea of acronyms for business entities. Suffice it
Why You 100% Need a Business Entity to Limit Your Personal Liability Read More »
Corporation. It’s a word we’ve all heard many times. But, often, “corporation” is used as a substitute for “business entity.” This leads to confusion among many who aren’t involved in the business world. In fact, “corporation” is only one type of business entity. The primary reason that many business owners use a corporation, limited liability
Business Entities 101: The Basic Types and Structures Read More »