The launching of a business venture is both exhilarating and overwhelming. An entrepreneur or a seasoned business owner that wishes to expand their services must investigate and decide on many significant issues. Some of these are conducting market research, the planning of finances to determine viability and profitability, hiring a team, choosing a location, building a brand, and creating a marketing strategy. However, the most important aspect in building a successful business is the preparation of legal documents that will ensure a solid structure and protect your future assets. The attorneys at The Boutty Law Firm, P.A. assist individuals and businesses with all the legal aspects of business start up and expansion. They are experienced and knowledgeable in business law and can handle a variety of legal issues.Legal documents are the backboneof a business and can be the difference between success and failure.
Important Business Formation Documents include;
- A Formal Business Structure is selected based on the needs of the business and will impact on the entity’s taxes, record keeping, and liability. Examples of business structures are sole proprietorships, partnerships, corporations, limited liability companies, and 501c3’s for charitable organizations. These governing documents require bylaws and operating agreements that define the rights and responsibilities of the corporate officers, directors, shareholders, and employees. It is essential to have an exit strategy written into your business plan to eliminate stress and provide guidance if unexpected events occur that warrants the sale or closing of the business.
- Intellectual Property Assignment Agreements are important to have in every employee contract, especially in creative or technology fields, stipulating that the company owns the work product of the employees. This document protects the company from the pirating of work or inventions by others, without expressed permission. A copyright, trademark, or patent is needed to secure the ownership of ideas, products and services.
- A Non-Compete Agreement, also called a restrictive covenant, is a contract that prohibits ex-employees from working within a geographical area for a competitor, for a period of time after leaving the company. This protects the company from an ex-employee transferring his client list to a competitor or providing a competitor with the knowledge and practices of your company.
- Non-Disclosure Agreements are confidentiality contracts and should be signed by any person that has access to confidential or proprietary information about your company, such as employee information, investor lists, trade secrets, marketing plans, and others.
- Employment Contracts create the foundation for a formal relationship and clarifies the rights, responsibilities, and obligations of employees and employers. Documenting the terms of employment can be a great asset in dealing with any future disputes that may arise.
The Boutty Law Firm, P.A. believes in being proactive to prevent legal problems before they arise. W can review and draft documents for any aspect of business formation or expansion and assist with licensing, permits, zoning, and insurance issues. We are experienced negotiators and litigators and can provide quality representation for disputes of breach of contract or commercial liability. Call our Winter Park, Florida office at 407-537-0543. We serve all of Central Florida and the surrounding areas.