Families in Florida who are involved in a business together will have to adhere to the same laws as anyone else. It is unfortunate that family disputes often arise when there is a business at stake, but it happens quite frequently. Allowing personal relationships to get involved with a business is a mistake that many people make. Regardless of the personal feelings, it is imperative to have protection when issues such as economic loss, breach of contract or any other problem with a business relationship arises. This is why it is imperative to have experienced legal help.
Intra-family businesses can be complex. Whether the business is located in Florida with the owners living out of state or out of country, or if they live in Florida, it is irrelevant when it comes to protecting the business. Since money is one of the biggest reasons for family disputes, it is not unusual for business concerns to grow exponentially worse if the disagreements are not settled in a legal manner. This could be related to how the business is being run, a violation of the agreed to contracts regarding its operation, financial malfeasance, disagreements on asset distribution at the time of a person’s death, insider trading and more.
While no attorney wants to get in the middle of a personal issue between family members, legal problems must be dealt with by professionals who will examine the situation and act accordingly based on the law. Some cases can be negotiated without having to go so far as to filing a lawsuit. If that is the case, then perhaps the relationship can be salvaged with an evenhanded negotiation. In other cases, the factors have grown so complicated and the business so intertwined that litigation is necessary.
For those who are in the midst of a family business dispute or can see the possibility of one coming in the future, having advice from an attorney is one of the smartest decisions to make. Making the call is imperative whether it is to move forward with a business tort, a simple contractual issue that must be handled or anywhere in between. It can mean the difference between the business going under and a family relationship being destroyed, or moving forward with an agreement that is satisfactory to all.