Business and Finance Law – An Introduction for Business Owners
Learning about business and finance law is crucial for anyone who wants to start or has started their own business.
Many people start a business early in life because they like working for themselves, while others do so late in life because it is a dream that they have always had as well as they now have the financial means and time to do so. It may also bring in an extra income stream that they need now that they are retired.
Nevertheless, starting your own business includes learning about Florida business law, so that no unexpected surprises come as a result of this new venture. Also you need to have the right business structure (corporation, partnership, LLC, PA, etc.) as well as documents that define the relationship of all the owners including how one leaves the venture should someone not be happy or pass away.
- Business law, also commonly referred to as commercial law, outlines all of the legal procedures involved in running a business.
- Finance law, although not its own separate theme of law, is part of business law where you learn about your legal rights related to your company’s finances.
By understanding business and finance law, you will be able to run an orderly business that meets the requirements of Florida business law as well as protect against potential law suits, protect your existing assets from a business failure or law suit and maximize retention of your earnings while reducing your taxes.
Considering that the laws can be very different from state to state, it is important that you learn about business law information specific to Florida if you plan to reside here, even if you do not yet.
For example, if you are going to retire to Florida and already have a small business or plan to start one, you should be aware of how business and finance laws differ from your current state’s business laws. Many of the basic concepts may be the same, such as the different types of insurances that a business owner should invest; however, the stipulations that revolve around the particular subject may be different.
Other business and finance law subtopics that you may find useful include employee law, blue law, anti-trust laws, intellectual property laws, and contracts. You should take in as much business law information pertaining to the state of Florida as you find available. This may include meeting with a business law attorney practicing in Florida who is familiar with Florida law.
We can help you understand Florida business law and successfully set up or relocate your business in Florida. Please see our Practice Areas for more information.
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