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.
Consumers, individuals and businesses alike, drive the global economy. This means that firms trying to reach consumers must compete fiercely for attention to get their products noticed. There are any number of reasons a consumer may choose one product over another: experience with a brand, features, quality versus value, or just the bottom-line price. In making a purchasing decision, consumers often rely on communications from retailers and manufacturers in forms such as advertisements, direct messages and verbal assurances. Sometimes, though, such communications may be less than honest.
Individuals and businesses often rely on other firms for important services to help make their own business run smoothly. Unfortunately, however, it seems that not all businesses are out to perform the services that they purport to do. Sometimes they are simply fraudulent enterprises disguised as legitimate concerns. These types of companies then prey on other businesses, causing losses of hard-earned money, as well as time.
Conducting business in Florida, as experienced executives and owners know, can be fraught with pitfalls. From poorly drafted agreements to outright bad actors, it can be far too easy for a formerly amicable business arrangement to devolve into a dispute or potentially litigation. For this reason, it is crucial to have a seasoned business litigation attorney on whom you can rely.
A fiduciary duty is an obligation that arises when one has a legal duty to act in the best interests of another. For example, a business partner has a fiduciary duty to their other partners. When a party fails to uphold their obligations, it could be a breach of their fiduciary duty. In a corporate or other commercial setting, a breach of fiduciary can result in contentious business litigation.
Business owners work hard to build their enterprises. Often, doing so involves grooming star employees, developing customer lists, proprietary products and methods, trade secrets and other recipes for success that owners do not want to leave the business. In Florida, non-compete agreements can help to protect a business's secrets and prevent them from falling into the hands of a competitor.
Competition -- friendly or otherwise -- is a normal part of doing business. It drives value, innovation, and market growth. Sometimes, however, competition can go too far and give rise to a legitimate business dispute. Tortious interference is one place where competition crosses the line of legality.
Injunctions are an important legal tool that some individuals may not fully understand. Injunctions are court orders ordering a party to refrain from taking some specific action. There are different types of injunctions including preliminary injunctions, temporary restraining orders and permanent injunctions. Both preliminary injunctions and temporary restraining orders can be useful tools issued early on in a dispute to stop one party from committing the actions the other party alleges are harmful.
It is important to be prepared for commercial real estate opportunities when they come up. A Florida company recently purchased a 390-unit apartment complex for $37 million in a Miami suburb. The buyer plans to update the complex and has interior and exterior renovations planned which will cost $3 million. The complex will also be renamed. The commercial real estate transaction was financed with a $33.5 million loan. The 170,900 square foot complex is reportedly 98 percent occupied and was listed for sale at a price of $41 million.
Unfair competition can be a serious concern for the success and viability of a business. Unfair competition essentially refers to wrongful or deceptive business practices that economically harm another business or consumers. In some circumstances, unfair competition can lead to business litigation. It is important for businesses to understand what is considered unfair competition and how to protect themselves.