Imagine making a loan to a business for its use as start-up capital. Loan documents are drafted, and to secure payment, you retain an option to purchase equity in the company. If the company doesn’t pay on time, you may have the option to take control of the company. The […]
For various reasons, a corporation’s limited liability shield for its shareholders is one of the corporation’s most valuable assets. Unfortunately, some individuals may abuse the corporate form’s limited liability status by using it to mislead or defraud creditors. As a result, courts will occasionally disregard a corporation’s limited liability protection […]
You have created your business plan and now you are ready to put your plan into motion and start your own company. The next step is to consider which business structure suits your business. A business can be structured as a sole-proprietorship, partnership, limited partnership, corporation, S-corporation, or a limited liability company. The limited liability company structure boasts many advantages, but also brings with it some disadvantages to consider.
You have a claim against a corporation and/or its officers, but you find out that the corporation is dissolved and there is a successor corporation in its place that appears to be essentially the same corporation. Now what? In Bernard v. Kee Mfg. Co., Inc., Florida’s Supreme Court adopted the […]