Vero Beach Business Transactions & Planning Attorney

A Vero Beach business transactions & planning attorney can help you with transactions, contracts, and planning for the future of your company, so you can get back to focusing on your work.

With many tourist attractions, Vero Beach and the surrounding areas of the Treasure Coast offer a variety of opportunities to start, grow, or work for a business. Jumping into a new business venture can be exciting and inspiring, but it’s important to take your time and handle important legal planning aspects.

A Florida business lawyer can help you with transactions, contracts, and planning for the future of your company, so you can get back to focusing on your work. An operating, shareholder, or partnership agreement can give you peace of mind that your business’ future is secure.

Operating Agreements

Typically used by limited liability companies (LLCs), an operating agreement defines the purpose of the business and spells out each member’s role, including what percentage of the work they do and what percentage of the seed money they contribute.

The operating agreement should also include an exit strategy for each member, plus the company as a whole—meaning you must decide what happens if a member wants to leave, or if the business itself is dissolved. You may not want to think about this, but planning for these contingencies may protect you, other members, and possibly the business itself.

Shareholder Agreements

Similarly, shareholder agreements protect corporations, and partnership agreements protect partnerships. You and your partners will need to discuss the division of roles and responsibilities, as well as how decisions are made. For example, does each partner have the authority to hire and fire employees, or does this need to be agreed on by all partners or shareholders? Which partners have the authority to enter into contracts for the business? Can each partner enter contracts for the company as he or she sees fit, or do the other partners need to be consulted in some cases? If so, what situations require approval by the board or a majority of the partners? How will disagreements between partners be handled?

Ownership Interests of Partners

You will also need to hammer out the respective ownership interests of the partners and ask some more difficult questions. Again, you’ll need an exit strategy for each partner, but you’ll also need to consider what happens if a partner dies, retires, files for personal bankruptcy, or becomes disabled and unable to continue as a partner. This may include buyout provisions or rights of first refusal. You may also need to consider the valuation of a partner’s stock or interest.

Often, these issues can be confusing, and many new business owners are unsure of the right way to proceed. A Florida business lawyer can help answer any questions you have, explain options, and draft a clearly-worded agreement to protect the interests of all parties.

If you have questions or concerns about contracts, business law, contract law, real estate, or other Florida legal services, please contact Apfelbaum Law for a consultation. We can be reached at 772-236-4009, or contactus@alawfl.com.