Many businesses in Southern Florida may have the federal or state governments, or an agency thereof, as a client or a business affiliate. After all, much of the government's work is done through contracts with private businesses. Not surprisingly, it is very important for a business in Coral Springs who is doing business with the government to take great care to pay attention to accuracy and detail at all stages in their dealings with the state. Otherwise, the business may find itself on the receiving end of an accusation that it defrauded or misled the government.
A previous post on this blog talked about how one business was suing another organization, a competitor, under federal anti-racketeering laws. The point of that post was that the Florida businesses have every right to expect that their competitors will play by the rules when contending for a larger share of the market. If organizations do not live up to their basic responsibility to follow the law, those businesses that are law abiding can use the civil court to hold their competitors accountable.
A recently dismissed federal lawsuit based on the Racketeer Influenced and Corrupt Organizations Act or RICO Act, put into focus an important legal weapon that businesses may use to protect their interests against the unfair tactics of their competition. On the flip side, the suit also demonstrates a source of legal liability businesses in South Florida may face.
For many businesses in Coral Springs and other parts of South Florida, it is more economical to lease a building or other commercial premises rather than buying property outright. However, to some extent, there are higher stakes involved in a commercial lease. Usually, commercial property costs more to rent than would a typical house or apartment.
One thing that can destroy a budding business or even an established enterprise in South Florida is a prolonged and expensive lawsuit. This is particularly true if, at the end of the day, a business winds up having to pay money out of pocket or give up important rights.
The national ride-share company Lyft is facing a lawsuit in connection with its recent decision to become a publicly traded company. The lawsuit, filed as a class action on behalf or aggrieved investors, stated that the paperwork Lyft filed in order for its stock to be offered to the general public was misleading in several respects.
Like individual Florida residents, corporations in this state have the ability both to sue and to be named as defendants in lawsuits. This means that if an individual, including a corporate officer, director or employee, does something to harm the corporation, the corporation can pursue available legal remedies. The corporation may even be able to demand compensation for its financial losses.
It often makes good sense for two or more people or companies who are joining together in business activities to form a partnership.
Starting a business is a major step for individuals in Florida and elsewhere. Even when it is a small business, it is a venture that should be done with much care and the details worked out. With regards to a partnership, there are many steps to take to ensure it is properly set up and ready to go. And by taking the time to set it up properly, partners in the business could help secure the success and longevity of the partnership.