At Bryant Taylor Law, we know how fulfilling it can be to start and run a business with a partner you know and trust. Building something with an impact on people’s lives is the dream for Americans everywhere, but sometimes dreams and goals change and partners go their separate ways. Putting your business’ needs and long-term goals first might mean changing the structure at the top. Employees change all the time, and Read More

A business is only as good as it’s Business Succession Plan. After all, if all of your business success is tied to the owner continuing to run it, what happens when they are gone? Is the business just over? Every business owner should have a strong Business Succession Plan in place so they can exit on their own terms - and have their company continue to succeed without them. So what is important to include in your Read More

While we all would love to start a business and immediately start making money, there are a few legal items to address before you begin working with your first customer. Though not necessarily required, selecting an entity structure for your new business is a strongly recommended initial step. We’ve published several blogs in the past about the benefits of forming as an S-Corp or LLC, but this month we’re talking Read More

Last month, we wrote about Business Succession Planning and the role that an attorney plays in it. One of the questions we received from the article asked about the difference between a Business Succession Plan and a Business Continuity Plan. Do they achieve the same thing? Is one easier to create than the other? How concerned should a business owner be about having either? To help answer those questions, let’s first Read More

As an entrepreneur, you’re writing your legacy every day. Working hard day in and day out is an immense source of pride for you, as you continually strive to make sure heirs have it better than you did. Without developing effective succession and continuity plans for your business, though, you’re in danger of having your heirs miss out on your hard-earned success.  One of the most important components of developing Read More

Shareholders of publicly traded corporations are generally free to divest their shares at any point. Floridians who own stock in closely held corporations, however, can occasionally feel handcuffed when they are not allowed to sell shares they would otherwise have already dumped. This problem is typically more acute for shareholders who do not own a majority in a closely held corporation.  The reason for minority Read More

Shareholders of large, publicly-traded corporations have a fair amount of flexibility if they feel they are being mistreated. Some shareholders may vote out an incompetent or negligent board member. If all else fails, shareholders may simply sell the stock.  Minority shareholders—shareholders who own less than 50 percent of a corporation—are much more vulnerable in privately held companies. For example, they aren’t Read More

As an owner (member) of a limited liability company (LLC), there are still plenty of external factors affecting your company that you can’t control. For members who have a minority stake in the business, this feeling might be even more amplified. Thankfully for minority members of LLCs, the Florida Revised LLC Act provides a number of statutory protections. These protections are codified in Chapter 605.0410 in the Read More

Starting your own business is one of the most exhilarating and rewarding experiences one can experience. It takes a lot of planning and courage to start an enterprise. Unfortunately, too many would-be entrepreneurs have their dreams dashed before things get going because the aspiring business owner is under a non-compete agreement from his or her former (or current) employer.  Last month’s blog laid out the general Read More

No longer reserved for C-suite employees and other key executives, non-compete agreements are increasingly used by many small and mid-sized businesses. A non-compete agreement is a type of restrictive covenant that limits certain employment and commerce opportunities for employees who sign them. Companies that use non-competes argue that they promote healthy and fair competition.  Many states are much less Read More