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Recent Blog Posts
6 Steps to Follow When Buying a Business in Florida
Buying a business can be an exciting and rewarding endeavor. Whether you are an entrepreneur looking to expand your portfolio or someone who wants to become their own boss, acquiring an existing business can provide numerous advantages. However, it is important to approach the process with careful consideration and thorough due diligence. An attorney who has experience in business transactions can provide invaluable guidance as you prepare to buy a business. At The Elliot Legal Group, P.A., we can make sure the legal aspects of a transaction will be handled correctly.
Step 1: Identify Your Ideal Business
The first step in buying a business is identifying the type of business that aligns with your interests, skills, and financial goals. Consider factors such as industry trends, market demand, competition, location, and growth potential. Research various industries and narrow down your options based on your preferences.
Incidents at Broward County Courthouse Raise Concerns About Business Liability
People usually expect a certain level of safety when using roads, parking lots, parking garages, and other areas that are open to the public. While this is true in nearly every location, facilities owned and operated by government organizations are often expected to be even more safe. Unfortunately, recent reports have shown that this is not necessarily the case at the Broward County courthouse. After some incidents that took place in the courthouse’s parking garage, people have realized that they may not have the protections they expect.
For business owners, this raises the question of whether they may encounter liability issues if car accidents or other incidents occur in their parking lots or on other parts of their property. By understanding the potential business liability issues that may affect them and the steps they can take to protect themselves, business owners can make sure they are prepared to handle these concerns. Business owners can work with a skilled and experienced attorney to address these matters, provide themselves with legal protections, and respond to any incidents that may occur.
Use of Non-Compete Agreements by Employers May Soon Be Limited
Many employers rely on non-compete agreements to protect against unfair competition. These agreements may be included in an employment contract or severance agreement, and they may restrict an employee from engaging in any work that directly competes with the employer. While non-compete agreements are widely used, the administration of President Joe Biden has stated that they can affect the rights of workers and restrict them from pursuing jobs that will properly compensate them based on their skills and experience. Due to some recent developments, some employers may find it more difficult to create and enforce non-compete agreements.
Issues related to employment law can be complex, and business owners will need to understand how changing laws and policies may affect them. By working with an experienced attorney, an employer can understand their rights and options, and they can take steps to protect against unfair competition or other issues that could lead to financial losses.
What You Need to Know When Selling a Business in Florida
If you are considering selling your business in Florida, there are several important factors that you need to be aware of. Selling a business can be a complex process, and it is crucial to understand the legal and financial implications of these types of transactions. By working with an experienced attorney, you can take the correct steps to protect your financial interests, and you can complete your business transaction successfully.
The Importance of Proper Valuation
One of the first steps in selling your business is determining its value. Proper valuation is essential for setting an appropriate asking price and ensuring that you receive fair compensation for your hard work.
A professional valuation expert or business appraiser can help you assess the value of your company by considering various factors such as profitability, cash flow, assets, market conditions, industry trends, and potential growth opportunities. You will need to make sure you do not undervalue or overvalue your business, as both scenarios can have significant consequences.
What Should an Employer Include in an Employee Handbook?
An employee handbook is a valuable tool that provides essential information to employees about their rights, responsibilities, and the policies and procedures of the company. It sets expectations for behavior and helps maintain consistency for all employees. It is crucial for employers to create comprehensive employee handbooks that are tailored to the specific needs of their companies, and they can do so with the help of an attorney who has a strong understanding of the laws that affect employers and employees.
The Importance of an Employee Handbook
An employee handbook serves multiple purposes:
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It promotes clear communication between an employer and their employees.
When Can I Seek an Injunction During Contract Litigation?
In the world of business, contracts are essential for establishing agreements and ensuring that all parties involved fulfill their obligations. However, there are situations where disputes may arise about violations of the terms of a contract. When these disputes escalate to litigation, seeking an injunction can be a powerful tool business owners can use to protect their rights and interests. With the help of an experienced attorney, a business owner can request relief from the court and minimize the harm suffered due to a breach of contract.
What Is an Injunction?
An injunction is a legal remedy that aims to prevent harm or enforce specific actions by ordering someone to do or refrain from doing something. It is typically sought when monetary damages alone would not adequately resolve the issue at hand. In contract litigation, obtaining an injunction can help maintain the status quo until the dispute is resolved.
How Can Small Companies Protect Themselves from Fraud?
One of the most common causes of small businesses failing is fraud. While this fraud can come from outside sources, the most significant threat comes directly from the inside, committed by employees. It is critical for small business owners to take the steps to ensure that they protect their companies and develop strategies to fight fraud. The following is a brief overview of some of these steps. For more details about effective strategies, contact a Florida business lawyer.
Due Diligence in the Hiring Process
One of the most important steps your business can take in preventing fraud is to make sure the people working for you are of good moral character. It is strongly recommended that you conduct background checks before hiring employees.
How Common Are Security Deposit Disputes?
Many Floridians decide to invest in rental properties as a primary or secondary source of income. While this income stream can be lucrative, it can also be wrought with frustrating – and expensive – issues because of problem tenants. We have all heard horror stories of tenants who damage property, refuse to pay rent, or commit serious violations of lease agreements. One of the most common disputes our firm’s Florida real estate attorneys handle involves security deposits.
Florida Law and Security Deposits
When a tenant rents a property, it is common practice for the landlord to require a security deposit. Under Florida law, there is no cap on what a landlord can require for a deposit, however, in most situations, the deposit is equal to one or one and a half months of rent.
Florida law requires landlords to follow certain rules regarding how that deposit should be stored. There are three legal ways a landlord can hold the security deposit:
Preventing Wrongful Termination Lawsuits
One of the downsides of owning your own company is that there will inevitably be situations where you will need to fire an employee. Unfortunately, no matter how valid the reason for that termination is, there are employees who will take legal action against their former employer, claiming wrongful termination.
These lawsuits usually include a request for financial compensation for losses the employee claims they suffered because of being fired. Given how damaging these types of legal actions can be to a company, both financially and to its reputation, it is important to understand what types of actions can trigger a lawsuit and how a Florida employment lawyer can help you avoid them.
On What Grounds Can a Wrongful Termination Lawsuit Be Filed?
Under Florida employment law, most employees are considered “at-will.” This means that an employer is legally able to terminate an employee at any time and for any reason as long as the action does not violate employment laws. Exceptions to that rule are if the employee is working under either a union or employment contract.
What Damages Are Available in a Breach of Contract Lawsuit?
When one of the parties who have entered into a contract with another party fails to live up to their end of the deal, the injured party can file a breach of contract lawsuit, seeking damages for the harm they have suffered because of the first party’s failure to fulfill their contractual obligations. The types of damages available in breach of contract cases can vary depending on the specific circumstances of the case. The following are some of the most common damages pursued in breach of contract lawsuits.
Compensatory Damages
Compensatory damages are the most common type of damages awarded in breach of contract lawsuits. The purpose of these damages is to compensate the plaintiff (injured party) for the financial losses they have suffered because of the defendant’s breach. There are two types of compensatory damages that can be awarded – direct and consequential.
