The Elliot Legal Group, P.A. Offices | Fort Lauderdale and Boca Raton
3101 N. Federal Hwy., Suite 609,
Fort Lauderdale, Florida 33306
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Florida, Washington D.C., England, and Wales
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754-332-2101
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561-832-8288
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Recent Blog Posts
How Can an Employee Handbook Legally Protect a Business Owner?
When running a business, it is important to have procedures and policies in place to protect yourself from legal trouble. One way to do this is to create an employee handbook. A well-written employee handbook can set clear expectations for your employees, helping you avoid misunderstandings and potential legal issues down the road. However, not all employee handbooks are created equal. In order to be effective, an employee handbook must be well-written and tailored to the specific needs of your business.
What Is an Employee Handbook?
An employee handbook is a document that outlines your company's policies and procedures. It should be given to all employees so that there is a clear understanding of what is expected of them. The handbook can also include information about your company's culture and values.
UPDATE: Which Business Structure Works Best For My Florida Business?
Originally published: August 21, 2020 -- Updated: September 8, 2022
Update: In addition to considering the issues described below regarding how a business will be structured and managed, it is also important to consider how a business's structure will affect taxation. Different business entities are taxed in different ways, and business owners will need to be aware of the implications of each different business entity before settling upon one that they think fits best.
Generally, how a business will be taxed will depend on whether it is classified as a corporation or a pass-through entity. In a pass-through entity, the business itself is not taxed; instead, the business's owners are taxed on their share of the business's profits. There are some advantages to using this type of business entity, including a 20 percent deduction that may be taken in cases where a business owner has an annual income of $170,050 or less. Pass-through entities include sole proprietorships, partnerships, and S corporations. Owners of LLCs may elect to be taxed as either an S corporation or a C corporation.
What Kind of Information Can a Non-Disclosure Agreement Address?
Business contracts are used to protect the rights and interests of one or both parties involved in an agreement and non-disclosure agreements are one of the most commonly used types of contracts. NDAs provide a business with protection by ensuring that proprietary information such as trade secrets, information about a company's finances, or other sensitive information will not be released to the public, made accessible to competitors, or otherwise used against them. Individuals and organizations that use these agreements need to be aware of the laws that address restrictive covenants, when an agreement may be enforced, and the options they may have for protecting themselves.
Terms That May Be Included in an NDA
A non-disclosure agreement typically states that a party that receives confidential information about a business has the duty to keep this information confidential and prevent it from being released to others. An NDA may be mutual or non-mutual. Mutual agreements may be used in contracts involving two businesses or organizations, ensuring that each party will maintain confidentiality and avoid releasing sensitive information about the other party. Non-mutual agreements may be used in employment contracts, preventing an employee from releasing confidential information about a company either during or after their employment.
Seven Red Flags to Watch Out for When Drafting and Negotiating Contracts
Businesses will create contracts in a number of different situations, and it is important to make sure the terms of these agreements will provide them with the protection they need. Addressing potential issues when initially drafting a contract or negotiating terms with the other party can save a great deal of difficulty in the long run. With the help of a business law attorney, a company can ensure that it will be able to identify and resolve any concerns while avoiding problems that could lead to financial losses in the future. Some issues to watch out for during the contract drafting and negotiation process include:
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Ownership of work performed - Contracts should specify who owns the work product created pursuant to the agreement. If this is not addressed, the company that paid for work may find that it does not have the rights to use or sell the work performed, or a person who performed work may lose the ability to claim ownership of what they created.
How Is the Mediation Process Handled in Commercial Disputes?
There are many types of disputes that may affect a business, and determining the best ways to resolve these conflicts can sometimes be difficult. The approach to addressing business disputes may differ depending on whether a dispute is internal and affects a business's partners, shareholders, or employees, or whether it is external and involves the relationship between a business and other parties.
While resolving a dispute effectively is likely to be the primary goal in these situations, it may also be necessary to maintain important business relationships and avoid ongoing issues. In many cases, businesses will be looking to find solutions that will allow disputes to be resolved without the need for litigation. Mediation, a popular form of alternative dispute resolution, can be one of the best ways of doing so.
Steps Followed During Business Mediation
Mediation is a relatively informal process that allows the parties to work together to find a mutually beneficial resolution to their dispute. Each party may be represented by an attorney during the mediation process. A mediator, who is a neutral third party, will guide the mediation and help the parties to communicate with each other. The mediator will not make any decisions or force the parties to agree to anything, but they will instead facilitate communication and help the parties explore different options as they work to reach their own agreements. This can be an important benefit of mediation, as it allows the parties to have more control over the outcome of the dispute.
What Are the Possible Remedies for a Breach of Fiduciary Duty?
There are many situations in which business disputes can arise, and in some cases, these issues need to be resolved through litigation. Disputes involving business partners or shareholders can be especially challenging, especially when they are related to disagreements about the direction or management of a company. Business disputes can also involve claims that a party has acted inappropriately or illegally and caused harm to other partners, shareholders, or to the business itself. These cases often involve claims that a person has committed a breach of fiduciary duty. When these issues are handled through the legal system, the parties involved in a dispute need to understand the potential remedies that may be ordered.
Legal and Equitable Remedies for Breaches of Fiduciary Duty
A person is considered to be a fiduciary when they are entrusted with the care of property or money on behalf of another person. A fiduciary duty is the legal obligation to act in the best financial interests of the person being represented. This duty requires fiduciaries to exercise a higher standard of care than that which is required of ordinary people. Business owners or partners have a fiduciary duty toward other partners, shareholders, or investors.
Can Employment Contracts Include Non-Disparagement Agreements?
Employment contracts will contain a number of terms that affect both the employer and the employee. In many cases, an employer will want to include terms that protect their interests and prevent employees or former employees from taking actions that could harm the company. These may include non-compete agreements that prevent a person from engaging in unfair competitive activities and non-disclosure agreements that prevent employees from releasing confidential information. In some cases, an employer may also ask employees to sign non-disparagement agreements meant to protect a company’s reputation. By understanding the purpose of these agreements and the restrictions they can put in place, employers and employees can ensure that they are properly protected.
What Is a Non-Disparagement Agreement?
Disparagement may include any statements by an employee or former employee that could harm their employer's reputation. These may include both false statements about a company and factual statements about issues such as workplace policies, the actions of co-workers or supervisors, or the quality of a company’s products or services. Notably, disparagement is different from defamation, which involves false or misleading statements that are meant to cause harm to a company.
New Reporting Policies May Affect Medical Debt and Credit Scores
Medical debt is a significant issue for many Americans. Large medical bills can be very burdensome, especially for those who are struggling with health issues that may affect their ability to earn an income. In fact, medical debts are one of the most common reasons that people file for bankruptcy. To make matters worse, these debts can continue to affect a person for years, even after debts are paid off or eliminated. A debt that is in collections will often show up on a person’s credit report, lowering their credit score and affecting their ability to receive credit or loans in the future. Fortunately, the credit reporting agencies have announced new policies that may benefit those who have medical debts.
Changes to Medical Debt on Credit Reports
The three credit bureaus that maintain records of people’s debts--Experian, Equifax, and TransUnion--have announced that they are changing some policies related to medical debt. As of July 1, 2022, medical debts that have been paid off will no longer be included on a person’s credit report. This will affect any new debts that are paid off, as well as past medical debts, even those that had been in collections. Because many medical companies are willing to negotiate with consumers to reduce the amount owed, those who have debts may be able to pay them off, ensuring that these debts will not affect their credit score in the future.
Are Non-Solicitation Agreements Enforceable in the 21st Century?
There are multiple types of contractual agreements that businesses may use to protect themselves. In addition to non-compete and non-disclosure agreements that may restrict when and where a former employee can work after leaving a company and prevent them from sharing inside information, non-solicitation agreements may also be used. This type of agreement may prevent a person from contacting employees who work for their former employer and attempting to hire them, or it may restrict a salesperson’s ability to contact former customers and offer goods or services in competition with their former employer.
These types of agreements may seem difficult to enforce in our modern, always-connected world. People have many ways of communicating with each other, including on social media, through email, and a variety of other channels. Determining whether a person’s actions violated a non-solicitation agreement can sometimes be difficult. Both employers and employees may be unsure about whether these agreements are enforceable in different situations.
How Have Recent Changes to Bankruptcy Laws Affected Debt Limits?
There are many situations where people may struggle with debt, and this often occurs due to circumstances that are out of a person’s control. Those who are experiencing harassment from creditors and struggling to cover their ongoing expenses in addition to paying what they owe will need to consider their options, and in many cases, bankruptcy can provide an ideal solution. By completing this process, a person, family, or small business owner can eliminate certain types of debts and regain financial stability. However, debtors who are considering bankruptcy may need to be aware of some recent changes to the laws that may affect their eligibility for debt relief based on the amount they owe.
New Debt Limits for Chapter 13 Bankruptcy
Chapter 13 bankruptcy, also known as “wage earner’s bankruptcy,” is an option that may be pursued by debtors who own a home and wish to avoid foreclosure or who do not want to liquidate certain assets during the bankruptcy process. This type of bankruptcy will allow unsecured debts such as credit card balances, medical bills, and missed mortgage payments into a single repayment plan. Depending on certain factors, this repayment plan will last either three or five years, and after a person has made all monthly payments in the plan, any remaining unsecured debts will be discharged.
