Being an entrepreneur is an exciting, albeit stressful, time in a person’s life. There are so many things to do, and some may include common legal mistakes. Between finding out how to market your service or product and making sure your operation is set up to receive and service your customers, the role of an entrepreneur is typically heavily focused on the value to their customer.
It is very common for legal considerations to take a backseat which is not in the best interest of the business owner. Here is a list of the common legal mistakes made by owners of start-up businesses.
If you are deciding to research business succession planning, you are taking the first step to secure your legacy and leaving your business in the right hands. Business succession planning involves a series of logistical and financial decisions concerning how a business owner wants to exit their business. Whether you leave the business by retirement, disability or death, having a succession plan in place is a smart decision.
Establishing a power of attorney can sound intimidating, but
it is very simple when working with an experienced professional. If you are
looking to put a future plan in place for your personal and business affairs,
you should look into setting up a power of attorney. First, there are some
basic items that you should know.
As a business owner and employer, you naturally want to protect
your intellectual property and the share of the market you worked so hard to attain. The last thing you want is one of your employees taking information they learned to directly compete with you. That’s why many employers look into including non-compete clauses in their employment contracts. Non-competes are legal and enforceable in the state of Florida, but there are certain restrictions that you need to take into account.
Selling your business can be a confusing and
emotional time for a business owner. Whether you are retiring, moving on to
something new or you have been offered an irresistible deal, choosing to put
your business in the hands of someone else can be a complicated process.
In order to make the best decision for you, your family and your leadership team, you need to know what options are out there to get the best value for your years of hard work.