Business Formation

There is a lot more to forming a business than just filing for an LLC and applying for a Tax ID number. If you plan on starting the business with a partner, you need an operating agreement in place. Whether you plan to operate as an LLC or a corporation, their will be shares, voting rights, capital distributions, and a lot more. Anyone starting a business in Florida needs contingency planning.

During the startup phase, the partners of the business typically get along well. Everyone’s hopes and spirits are high. Your motivation will never be higher than in the startup phase. However, after some time, that enthusiasm begins to fade and the honeymoon period comes to an end. That is when you will want and need to have a well-drafted operating agreement or shareholder agreement in place. The agreement is the constitution of the business. It provides you with rights that you can enforce in court if you need to.

If you are considering starting a business in Florida, give the attorneys at Fairway Law Group a call to set up a consultation. Our attorneys can assist you with everything from basic document preparation through drafting a partnership agreement. Because of our passion to help grow businesses, we are always happy to help you with your business needs.