Weston Business Law Attorney
In today’s competitive business markets, the companies that grow the fastest are often the ones that stay out of court. Claims by employees, disputes with partners, and contract disagreements with primary vendors can cause a company to go off the rails and crash. A big theme of Weston business attorneys at Rarick & Bowden Gold, P.A. is to help keep your company out of court and focused on making money.
Weston business attorney Phil Rarick has over 30 years of experience working with small businesses. We work with all sizes of small business and enjoy helping companies grow and prosper. We offer a wide variety of tax and legal services for the small business, such as:
- Protecting You and Your Family From Personal Liability
Florida has multiple corporate entity options to consider when opening a business such as a limited liability company (LLC), professional association, limited liability limited partnership (LLLP), and of course a corporation. These entities do not all provide the same quality of protection. It is important to select the right one at the time of creation of the business and maintain the business properly. This will prevent creditors from piercing the corporate veil and suing you personally. One of the most popular corporate forms is the LLC, but if the LLC does not have a robust operating agreement that takes advantage of Florida law and if the LLC is not a multi-member company it may be simply providing a false sense of security. See Beware of Florida Single Member LLC’s
- Avoiding Disputes With Partners: Florida Buy-Sell Agreements
Partnership disputes are one of the most common reasons small businesses fail. To avoid this, it is important to address head on all sensitive issues and expectations in a clear Buy-Sell Agreement. You get along great with your partner, but if your partner has a stroke or gets into an accident, do you want to have your partner’s spouse as your new partner? It is always important for every business to have an exit strategy if things do not work out as planned. This includes questions of control, ownership shares, and capital contribution need to be clearly addressed in your Buy-Sell Agreement. The time to do the agreement is at the creation of the business, when everyone is in agreement. Waiting to secure a Buy-Sell Agreement when problems arise is a recipe for litigation.
- Avoiding Disputes With Key Employees
The best way to avoid disputes with key employees is to make sure all understandings and expectations are addressed in a clear employment agreement. A key employee is by definition difficult to replace without the likelihood of major business interruption. The time to set forth the understandings and expectations is at the beginning of the employment term. This takes some time and money, but it pays off multiple times in retaining your best employees.
- Sale, Purchase or Merger of Business
Weston is home to a wide variety of successful small businesses. As Weston business attorneys, we have helped sell, restructure, or merge many types of businesses, such as physician medical practices, CPA firms, franchises, engineering companies, and equipment manufacturers. Virtually all such transactions have significant income tax issues that need to be addressed.
- Passing the Torch: When it Comes Time to Retire
Over 70% of small businesses that have been successful for years are unable to successfully transfer ownership to a younger generation for many reasons. However, the most common reason is that most small businesses do not have a viable succession plan that will provide clear guidance if the senior partner suddenly dies or has a stroke. We have worked for many years with small businesses to help make sure there is a clear order of succession. Taking the time now to meet with a Weston business attorney and prepare for such a transition is the best way to preserve the full value of a company that you have spent many years building.