Initial corporate structure.
New business entities must go through legal processes to start a corporation. An attorney can be helpful in setting up activities that will make a business entity legal in the State of Florida.
When a corporation changes ownership, updates officers and executives, has disputes with partners or needs to make a culture change to advance in the current business market, organizational documents will need to be amended to reflect any and all changes to the business, including the division of assets for the continued stability of the existing entity, changes in governing bodies and board directors, for the future success of the new entity. Restructure activities include:
During a company split or restructure, the sale or division of assets will be important to address. A business contract will need to be drafted to specify how the sale is organized and what assets will be transferred to the new owner, including client list and non-compete agreements.
Client lists and non-compete.
Client lists are an important part of the value of a company. Whenever possible a cost-benefit analysis should be undertaken to calculate profits for each individual client. It will be important for both companies to survive the split by 1) retaining valuable clients, 2) addressing client costs, and 3) determining present and future income from clients.
A non-compete agreement is a legal agreement between an employer and an employee regarding business activities that are conducted often containing business secrets or proprietary information that should remain inside the business. In most instances, employees, contractors, and consultants have to sign these types of agreements.
Hire an attorney.
When corporations are set up, or restructured, documents need to be drafted with the assistance of legal professionals to protect the interests of business owners and corporate governance.