Business Lawyer Miami, FL
A Miami, FL business lawyer from Perez Mayoral, P.A. knows that starting a business can be both exciting and scary at the same time. The more preparation you can do before launching, the better chance of success you will have. If you have refined your idea and are ready to move forward, here are the main steps to bring your business to market.
You will want to understand the demand for your product by conducting research. With your market data research results, you can tweak and adjust your approach for the next step. Some factors to consider are:
- Economic environment
- Number of competitors in your space
Write a Business Plan
There are many online resources to help you develop a business plan. It will serve as your playbook moving forward. Have a clear value proposition on what your business will offer. Think long-term when envisioning your business model. As a Miami business lawyer explains, components of a business plan include:
- Executive summary
- Description and structure of the business
- Market research
- Customer and competitor analysis
- Marketing and operating strategy
Look for Funding
Most business owners require capital to help get their business up and running. Some resources to use for capital include credit cards, friends and family, small business loans, venture capitalists, angel investors, and crowdfunding. Think outside the box when it comes to securing funding. Funding is the lifeblood of a new business, lacking a reliable source is one of the major reasons a new business might fail.
Hire a Team
Depending on your business model, you will likely need employees. Think through important roles and write job descriptions. You should also consider what type of culture you want to foster and hire accordingly. One of your first hires should be a bookkeeper if you are uncomfortable with that role. This might be a direct-hire or outsourced to a bookkeeping firm. Accurately tracking financials is critical for any business.
Grow Your Network
Build a support team for yourself as the business owner. Find a group of local business owners and do not be afraid to ask questions. You might also consider hiring a business coach to help you get off the ground. Successful entrepreneurs often enjoy helping others that are in the position they were once in. Take advantage of the resources available to you and you’ll see your business grow.
Market Your Business
Once you are open for business, plan on aggressively marketing your product or service. As a new company, you will not have word-of-mouth referrals yet. Get your name in front of the right people through targeted marketing. You may consider working with a marketing firm to help you in this area.
Thorough planning can be crucial to making your business a success. However, do not wait for perfection to launch. Once you have completed the above steps, you can feel confident your business is ready to grow.
Help When You Need to Settle Your Business Disputes
Many people are concerned that when they have business disputes it means that they will need to go to court. The truth is, when you own or operate a business, you should always be prepared for a dispute to turn into something ugly. Having a lawyer on your side earlier in the battle means that if you must go to court you can be as prepared as possible. However, business disputes do not always have to end up in court. It can be most beneficial to solve your problems out of court because:
- You will not be spending as much time away from the office and your case will not need to drag out.
- You will save a great deal of money by avoiding litigation.
If you own a business, you have probably already had more than your fair share of conflict, whether it is between business partners, vendors, or even your employees. No one wants to run a business that is toxic, which is why one of the best ways you can settle disputes that arise is outside of court. You may find that two ways you can settle your dispute are through:
Settling Disputes Through Mediation
When you settle your dispute through mediation, it means that you are bringing a neutral, third party into the matter. This is not dissimilar to those who use mediation in family issues such as divorce. Mediation is a great tool when two parties need to air out their grievances in a safe environment without the pressures that come with litigation. A mediator (not one of your lawyers), will come in and attempt to help both parties involved come to an agreement that works for everyone. That said, the mediator does not have the power to make a judgment on who is right and determine what the outcome must be. Especially in instances where you do not want things brought to the public eye, mediation can be helpful to keep this a private matter.
Settling Disputes Through Arbitration
Similar to mediation, you will not need to go through litigation or take your dispute to court for arbitration. You will be submitting your side of the dispute to an arbitrator–a neutral third party–who will review everything and come to a decision. While you will walk away with a binding decision, you still get the privacy that you may be looking for in mediation. This allows you to plead your case, stay out of court, and have someone resolve your dispute.
When you begin to notice issues coming up at your workplace or are already in the middle of a heated dispute, you should speak with your business lawyer as soon as possible. The quicker you are able to resolve what is going on, the quicker you are able to do what you do best: run your business. If you would like more help understanding the ways a lawyer can help with settling your business disputes, reach out to our team now. For further guidance, contact a Miami business lawyer from Perez Mayoral, P.A. today.
Examples of Business Litigation
When your business is being threatened with litigation from an individual such as a client or another business owner, it is helpful to have legal assistance from a trusted Miami, FL business lawyer. If you are facing any kind of legal threat made by another party, you must respond right away. There are many situations where it may be necessary to obtain the help and guidance of a trusted lawyer that can offer you specific legal advice. Here are just a few examples of business litigation you can experience where a lawyer can help you with.
Fraud is one of the most serious crimes that a business or its staff can be accused of, and it is defined by any criminal action that is done in an attempt to achieve financial or personal gain. Typical examples of fraud include making false or misleading statements, deceiving investors and customers about products or services, covering up defects, and falsifying documents. It is a serious charge, and if your business is being accused of fraud, meet with a lawyer who can prepare a defense right away.
Breach of Contract
A breach of contract is a common business litigation scenario. This can occur when the defined terms and conditions of a specific contract have been violated. For example, when two parties such as business owners agree to a contract and one of them decides to approve a financial decision without consulting the other party, they have made a violation. As lawyers from Perez Mayoral, P.A. can explain, there can be grounds for pursuing litigation against the party that neglected to adhere to the contract.
Intellectual Property Disputes
Business owners have to be careful about the original ideas and concepts that they invent for their company and how they are protected. Issues concerning intellectual property, or IP, such as trademarks and copyrights, are often brought up because a party may claim that their certain features were their original creations. If you want to protect yourself against an IP dispute, have a lawyer assist you so that you can determine what legal strategies to use.
Many Miami business lawyers resolve cases regarding employment disputes. These types of disputes can happen for several reasons, such as wage disputes, labor law violations, safety complaints, and employment contract disputes. If you are facing a dispute with an employee, turn to a lawyer so that you can arrive at a peaceful and fair solution for all parties involved.
Defective Product Claims
Another common litigation case involves defective products. Sometimes there are claims made by consumers that a product they used caused them to suffer an illness or injury. Business owners can seek assistance from a reputable lawyer so that they can review the evidence and determine legal strategies that can help resolve the situation.
If you would like more information about legal services as a business owner, do not wait to contact a skilled Miami business lawyer that you can rely on for immediate legal help.
Business Lawyer FAQs
What is breach of fiduciary duty in business litigation cases?
A Miami business lawyer knows there are a variety of reasons why a person or company may pursue business litigation against another party. In many cases, these disputes involve the claims that one party has committed a “breach of fiduciary duty.” However, this term is not always fully understood. What exactly is a fiduciary, and what duties do they owe to others? By understanding how a person or company may breach their fiduciary duty, those who are involved in business litigation can determine their options for resolving these issues.
What is a fiduciary?
A fiduciary is any party who has the duty to act in the interests of someone else. That party is referred to as the principal. Once the relationship between the fiduciary and the principal is established, the fiduciary will be required to act in the principal’s interests, and they should avoid any conflicts of interest that could cause harm to the principal.
Can there be more than one fiduciary named in a business litigation case?
In business litigation cases, multiple different parties may be considered fiduciaries. For example, the partners of a company have a fiduciary relationship to each other and to the business as a whole. A corporation’s board of directors has a fiduciary duty to the company’s shareholders. A company’s employees have a fiduciary duty toward their employer. If a party breaches their fiduciary duty, the principal may pursue litigation, and they may attempt to recover financial compensation they have experienced due to the breach.
What are the types of breaches that may be cited in a business lawsuit?
Each Miami business lawyer from our firm has successfully handled many types of breach of fiduciary duty, including:
- Duty of loyalty – A fiduciary may be accused of acting in their own interests rather than the interests of the principal. Example: A partner may have made business decisions that provided them with financial benefits but had a negative impact on the company’s ability to pursue certain opportunities.
- Duty of disclosure – A fiduciary may be accused of failing to provide the principal with certain types of required information. Example: A board of directors may have failed to disclose financial information in order to prevent shareholders from selling shares, causing shareholders to suffer losses when the value of their shares decreased.
- Duty of confidentiality – A fiduciary may be accused of disclosing protected information in a way that caused harm to the principal. Example: An employee may have sold a company’s trade secrets to a competitor, causing the company to suffer financial losses due to unfair competition.
What type of proof does a litigant need to show in order to be successful in their lawsuit?
The party that is seeking to address a breach of fiduciary duty will need to demonstrate that a fiduciary duty existed, that the other party violated their fiduciary duty, and that they suffered damages as a direct result of the breach. In many cases, that party will seek to recover a specific amount of money that was lost because of a breach of fiduciary duty, but they may also ask the court to require the defendant to take other actions to restore them to the position they were in before the breach occurred.
Contact Our Business Law Firm
If you have been accused of breach of fiduciary duty, or suspect another party has committed it, you need an aggressive Miami business lawyer protecting your interests. Call Perez Mayoral, P.A. to schedule a free and confidential consultation.