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September 2015 Archives

What you should know about business partnerships

There are many considerations when it comes to forming a partnership in Florida. Entering business with another person may make it easier for you to combine resources and complementary expertise, but it also affects your responsibilities and your liabilities. At Welbaum Guernsey, we understand that the type of partnership you enter affects your involvement in business decisions, your percentage of the company’s profits, and your liability if there is business litigation.

How can intellectual property be protected in Florida?

Developing intellectual property is an important part of owning your business in Miami, Florida, and preventing competitors from accessing this information is just as critical as keeping tangible assets from being stolen. According to the U.S. Small Business Administration, these trade secrets are protected by law when they are economically valuable to your company and could benefit another company if it possessed the information, creating unfair competition in the marketplace.

I found a construction defect on my property -- what can I do?

Whether you're the owner of a single-family home or a multi-story building, there are few things more unsettling than finding a major flaw in your property's construction. Perhaps you've just discovered a leak in a relatively new roof, or dry rot in the floorboards. If you're a homeowners association president, you may have fielded calls from angry tenants. Especially if a defect is a safety hazard or is causing further damage to the property, you need to act quickly.

Proposed bill would amend construction defect claims process

Even the most experienced professional in Miami, Florida, may be faced with correcting a mistake that is made during the course of the job. For contractors, subcontractors, suppliers and design professionals who work in construction, the current system for the discovery and resolution of construction defects may seem to favor the property owner who is making the claim. Under the current Florida Statute on construction defects, the property owner must submit a notice of the claim to the contractor that describes the alleged defect and the resulting damage in reasonable detail, including its location.

Understanding strengths and weaknesses of venture capital

Sometimes, an entrepreneurial company in Miami, Florida, needs to find funding but does not qualify for traditional asset-based lending sources such as banks because it is too new or small. Venture capital may be a viable alternative for these businesses. This type of funding involves selling shares of the company in return for the financial support necessary to operate. The shareholders also receive the ability to have an active role in the company.

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