Commercial and Business Law
At Stok Folk + Kon, our goal is to provide solutions and strategies that will not only protect your entity but help it grow. Whether you are a small partnership or a large corporation in the Fort Lauderdale area, you may need assistance with contracts and other legally binding documents. Our knowledgeable commercial law attorneys have a thorough understanding of how enterprises function. We can act as both your legal advisers and your personal business consultants. We will take the time to explore the objectives and needs of your company. Our firm handles a variety of business law matters, including entity creation, contract formation and enforcement, financing arrangements, employee agreements, and general counsel services.Business Formation
If you are thinking about starting a company, you will want to find out about the benefits and liabilities of each form of ownership. Choosing the right type of entity can affect its financial future. We help our clients set up various types of businesses, including limited liability companies (LLCs), corporations, partnerships, and other types of joint ventures. Each of these forms has different tax consequences.
In an LLC, for example, managers and managing members are protected from personal liability and claims of creditors. Under Florida law, an LLC with multiple members is generally treated as a partnership for income tax purposes. If it has only a single member, it is regarded as a separate entity for tax purposes. Thus, LLCs are not subject to Florida’s corporate income tax rules.
Under state law, a partnership is defined as an association of two or more persons who are co-owners of a business for profit. General partnerships do not have to register with the state or get a business license. Each partner is independently liable for any business-related activity that he or she engages in. These entities are often appealing due to the ease and informal nature of their formation and operation.
A corporation is defined as an entity formed to act as a single person under the law. Thus, it is generally an association of employers and employees organized in a particular company. A key benefit of a corporation is that the owners and shareholders are not personally liable for the debt of the entity.Commercial Contracts
Business contracts are vital to the growth and development of any entity. A contract is an agreement between two or more entities in which one side agrees to perform a service or provide goods, typically in exchange for money or other goods and services.
How your business structures a deal will be codified in the contracts your company arranges. Our attorneys have years of experience drafting, revising, reviewing, and negotiating terms of agreements for our clients. A breach of contract occurs when one party fails to follow through on its obligations under an agreement. When this happens, the non-breaching party can take legal action against the breaching party and recover damages for its loss, usually in the form of monetary compensation. These are usually designed to put the non-breaching entity in the same position as if the contract had been performed as the parties initially intended. Sometimes, however, liquidated damages clauses may limit the extent of recovery when a breach happens.Obtaining Financing for Your Business
Capital can come from a variety of sources, including private individuals, venture capital firms, and banks. We work closely with institutional and private lenders to help you pursue the financing you need for your business. We evaluate venture capital and private equity opportunities, in addition to reviewing equity and debt investment proposals and assisting you in preparing bank financing paperwork and purchase equity agreements.Employee Agreements
Smoothly running employer-employee relationships can be critical to the successful operation of a company. Florida courts have typically held that an employer’s unilateral statements, as communicated through policies contained in an employee handbook, do not create an implied contract. Thus, they usually will not affect an at-will relationship, which is the presumed form of employment in Florida. However, employers still should take precautions when drafting manuals, training guidelines, and any rules pertaining to their workers.
Our attorneys will assess your existing employee handbooks as well as procedures and documentation. We can make recommendations to ensure that you are complying with the relevant laws. We also help draft employment contracts, non-compete agreements, non-disclosure agreements, and more.Discuss Your Business Law Needs with an Fort Lauderdale Attorney
Commercial contracts and other legal documents can be complicated, so it is a wise idea to have an experienced attorney review them. Whether you are located in Fort Lauderdale or elsewhere, the experienced business lawyers at Stok Folk + Kon can help you in a variety of matters involving corporate entities. We use our business acumen and background to help our clients achieve their goals. We represent commercial entities and individuals across the state of Florida, including in Hollywood and Fort Lauderdale. Call us today at (954) 237-1777, or contact us online to schedule an initial consultation.