Some companies in Florida own the real estate they do business on. Other companies prefer to rent their premises. This can be very lucrative for the landlord, particularly when the real estate can be portioned out for use by multiple commercial tenants. However, just like real estate in general, the commercial real estate market fluctuates and buildings are sometimes worth more than at other times. Recently the market has been fairly hot, so there have been a number of sales as owners are trying to make the most on their investments.
People and businesses in Florida enter into contracts almost every day. Some contracts are simply accepting the terms for using a product or service, but many others take many hours of negotiation to ensure that the contract states exactly what the parties to the contract want it to say. The more money that is on the line, generally, the longer contract formation process may take. After the contract is signed by all parties, it becomes official, and everyone is bound by its terms.
There are many different corporations in Florida. These corporations are set up to run businesses and ultimately make money for the shareholders of the corporation. However, since not all shareholders can effectively make decisions for the corporation, the shareholders of the corporation will select directors and officers to run the corporation. This means that the shareholders, who have invested their money in the corporation, need to put their trust in the directors that they will run the corporation competently. If they do not it could lead to business disputes.
As a member of IR Global, it is an honor to have been selected to participate in this publication by IR Global, a Virtual Series on International Asset Sequestration. Follow my thoughts on Florida's legal system asset sequestration requirements, procedures and priorities.
Construction is big business in South Florida, with its booming commercial real estate market. Occasionally, the rush to complete a project or development - or perhaps faulty engineering or design - can result in construction defects. When a construction defect is discovered in Florida, the typical procedure under state law is to file a notice of construction defect with the general contractor of the project. This is a requirement before a lawsuit can be filed.