Every business goes through its ups and downs. The steps you take to address the challenges that face your business will determine your success or failure.
Before you attempt to start a new business or resolve a conflict with your current venture on your own, let a business lawyer in Orlando with Bogin, Munns & Munns help.
Dealing with Contracts
Contractual issues are commonplace among Orlando businesses. Your business approaches to contract negotiation could majorly impact your success going forward.
We Can Negotiate on Your Behalf
One of the primary ways an Orlando Commercial Law Lawyer with our firm could assist with the growth of your business is to negotiate a contract on your behalf. Often, the other party you are dealing with will expect to offer a contract purely on their terms. The reality is that most business arrangements could be negotiable—if you know what to ask for.
Our team of attorneys can assist with these negotiations and help ensure you are treated fairly.
Taking Legal Action
Ensuring the terms of your contracts are fair and reasonable is only part of the equation. Despite your best efforts to secure their cooperation, some parties to a contract might fail to perform. In this case, your attorney can pursue legal action in an effort to enforce the terms of the contract.
To consult with an experienced business lawyer lawyer serving Orlando
(855) 780-9986
Business Interruption Claims
Some business owners could face severe financial strain following natural disasters and other devastating events. The good news is that business interruption insurance exists to replace a business’s income when disaster strikes. The bad news is that these claims are routinely denied by the insurance company.
Business interruption insurance is intended to cover a business under specific circumstances. In total, there are generally three situations where a claim could be appropriate:
- There is substantial physical damage to the business and it must halt operations
- The business is shut down by the government due to specific severe hazards
- The damage to the business makes it impossible for customers or employees to enter the premises
Insurance Companies Might Deny These Claims
Unfortunately, insurance companies might go to great lengths to deny these claims – even when there are viable grounds for compensation.
The insurers could dispute that the damage to a business is insufficient to necessitate a claim. They could also argue that government efforts to close the business do not qualify you for coverage. Your attorney can help ensure that your rights are protected.
Guidance on Mergers and Acquisitions
Every business is on a constant search for increased profitability and stability. That can come with growing naturally. Some businesses could benefit from merging with another entity or purchasing them outright, though. Mergers and acquisitions can result in the strengthening of a business. It could also be a useful tool to absorb a competitor.
Every merger or acquisition is different. These deals usually involve complex negotiations and countless factors that need to be addressed. Structuring these deals can be a lengthy process. The guidance of a business lawyer on our Orlando team can simplify things, though.
Some of the terms often negotiated during mergers or acquisitions include:
- Tax consequences
- Securities regulations
- Potential antitrust issues
Rival Bidders
Another issue common among mergers and acquisitions is the potential for rival bidders. Competition among multiple interested parties when it comes to merging or acquiring another business.
The existence of rival bidders could increase the purchase price and put the entire deal at risk. Your attorney could advise you on the risks that come with dealing with rival bidders.
Orlando Business Lawyer Lawyer Near Me
(855) 780-9986
Structuring a New Enterprise
Securing an attorney with our firm at the onset of business could help avoid an array of challenges in the future.
Some of these challenges include taxation and personal liability issues. Addressing these issues could be possible by selecting the appropriate structure for a new business.
Sole Proprietorships
A sole proprietorship is an informal business structure that offers little protection from creditors. Legal Information Institute (LII) reports that, as the name implies, these business entities are operated by a single individual.
A sole proprietorship leaves an owner open to liability from negligence claims or creditors. However, this form of business does protect the owner from the risk of double taxation.
Partnerships
A partnership has much in common with sole proprietorships. Like sole proprietorships, the operators of these businesses do not enjoy creditor protection. They don’t face double taxation, though.
The major difference compared to sole proprietorships is that partnerships are operated by two individuals.
Limited Liability Companies
For businesses with a small number of owners, a limited liability company (LLC) could make the most sense.
An LLC combines some of the benefits of corporations with those of sole proprietorships. LLC members are not subject to liability on a personal level and their income is not taxed twice.
Corporations
Corporations are one of the oldest options for structuring a business. Corporations have the ability to have large numbers of owners, known as shareholders. These owners are protected from liability. This means they cannot be personally held liable for claims by creditors.
The downside of corporations is that shareholders will face double taxation. Their income will be taxed as corporate income AND again as individual income.
Talk to Bogin, Munns & Munns for Guidance
Before you take on legal challenges involving your business, let us help you evaluate your circumstances. Our attorneys could help ensure that your business is treated fairly.
The team at Bogin, Munns & Munns is prepared to help you. We will protect your rights, comply with all necessary regulations, and pursue insurance benefits. Contact our Orlando office to learn more about how our business lawyers can help you.
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