How Can You Know the Value of Your Business?

How Can You Know the Value of Your Business?

Business Law
Knowing how much your business is worth is important for a number of reasons, including: You are considering a corporate transaction. You are engaging in estate planning. You are insuring your business. Either way, business valuation can be challenging, especially when much of your company consists of illiquid assets. There are a number of ways to value your business. Here are three ways to know what your company is worth: Earnings Assets Cash flow Earnings Method The value of your business could depend on how much money you make. A prospective buyer would be willing to pay for future earnings. They would use a certain multiple of your earnings or revenues as a guide for how much to pay. Buyers would not just be looking at what you made last…
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Steps to Starting an Online Business

Steps to Starting an Online Business

Business Law
Many bricks-and-mortar businesses faced serious struggles during the pandemic, and some owners looked toward online business as a solution to protect their futures. If you have an idea for an online business or are making the transition to online transactions, you can have more security should another natural disaster or unexpected situation arise. Online companies are still companies that have many legal concerns and compliance requirements. Even though you don’t have to find the right commercial property to lease, you should not ignore the other steps you should take. Always have the guidance of a Boca Raton business startup attorney. Choosing a Company Name Online companies should put particular thought into selecting the business name. You want to make sure the name is available for registration in your state, as…
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Taking Action for Trade Secret Theft

Taking Action for Trade Secret Theft

Business Law
Trade secrets are critical assets for many businesses, and even with all of the proper protections, employees or competitors can still steal trade secrets and misuse the information for an unfair advantage. If your company had any trade secrets stolen, you should discuss the legal action you should take with a Boca Raton business litigation attorney right away. Relief for Trade Secret Theft In order to have legal rights to protect your trade secrets, you must ensure the information is not easily accessible and is treated as confidential within your organization. This includes having those with access sign non-disclosures agreements, having information password-protected, and more. If you properly protected your trade secrets, you can take action if someone misappropriated the information under state law. You can file a claim with…
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Does Your Business Have a Buy-Sell Agreement?

Does Your Business Have a Buy-Sell Agreement?

Business Law
Many people have brilliant business ideas, but they are unsure of what agreements and documentation they should have in place to protect the owners’ rights and interests. A common misconception is that a buy-sell agreement is one needed when you are purchasing or selling a business. In reality, it is an agreement that all multi-owner companies should have. A buy-sell agreement is also commonly called a buyout agreement, as it dictates the rights of other owners to buy out one owner’s interests under certain circumstances. For example, one owner’s interests might be vulnerable due to: Divorce Bankruptcy Retirement Incapacitation Death The last thing many owners want is for a spouse or someone else who has never been involved in the business to then have a stake and a vote. Instead,…
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Assistance with Business Compliance Issues

Assistance with Business Compliance Issues

Business Law
Every business has complex sets of laws with which they must comply, and these laws can vary widely depending on your industry, operations, workforce, location, and more. Noncompliance with even one regulation can result in penalties, liability, or even the closure of your business. So how do you stay on top of it all, especially when you are already busy running your business? Having a business compliance attorney in your corner can make all the difference. Many large companies have an in-house general counsel who has the full-time jobs of addressing legal matters, including compliance. These lawyers know the corporations and relevant laws inside and out, which helps keep the operation in line with the law. However, most small businesses do not have the resources - nor the need -…
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Are You Considering the Sale of Your Business?

Are You Considering the Sale of Your Business?

Business Law
In 2020, many business owners have faced struggles, and simply operating can require significantly more effort and resources than before the pandemic began. Some owners are deciding to pass the torch by selling their business, so they can retire or take a different route that might be less stressful. You should carefully consider the pros and cons of selling your company at this time, and some factors to weigh include: How is your industry performing in general? Has your company performed well in the market? How do your future financial forecasts look? What are the current interest rates? Are you personally ready to bow out of your company? You should discuss the big picture with a business attorney who can help advise you on the best course of action for…
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Common Concerns for Business Owners in 2020

Common Concerns for Business Owners in 2020

Business Law
Boca Raton residents love our small businesses - from restaurants to retail stores to event planners, and many more. In fact, last year, Boca Raton was considered the best place to start a small business in the U.S. However, there is no doubt that the Coronavirus pandemic has created new challenges for business owners across the United States, and Boca is no different. The following are some common concerns for business owners in 2020. Contract fulfillment - The pandemic and economic crisis prevented many companies from fulfilling their contractual obligations, or from receiving what they should from other parties to a contract. Contract disputes can be costly, and you want the help of the right attorney to resolve the matter as effectively as possible. Income loss - If your business…
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Business Law FAQ

Business Law FAQ

Business Law
When you own a company, you will certainly face a variety of legal questions and concerns on a regular basis. It can save you time and reduce your risk to have the assistance and counsel of an experienced business lawyer in Boca Raton. The following are some frequently asked questions about our business law services. When can a lawyer help my business? Our legal team assists company owners throughout all stages of business, from the first idea for an enterprise to formation to dissolution. Whether you are starting a company, well-established in your market, or trying to identify the best exit strategy, our attorneys can assist you. We can also help when you face a business dispute - whether you are bringing the dispute or defending against allegations of wrongdoing…
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