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Sears spinoff making a mint redeveloping unprofitable stores

Since its founding in 1892, Sears has been locating stores in prime areas. While the retailer itself is struggling, a spinoff company called Seritage Growth Properties is taking advantage of that prime real estate by buying up underperforming locations and redeveloping them into luxury retail centers, offices and even residences.

Consider a former Sears location in Aventura, Florida. Construction has already begun on a luxury shopping center with palm-lined boulevards, water fountains and upscale eateries. In Hicksville, a town on Long Island, a former Sears is slated to become a 600-unit apartment complex. In Santa Monica, California, offices tailored to the tech elite are taking shape just blocks from the Pacific Ocean.

Have a small or medium business? You need a succession plan

If you've started a business from the ground up, it may have become part of your identity -- the fulfillment of a dream. Have you considered what would happen if you suddenly became incapacitated and could no longer run the business? Have you arranged for someone to take over when you die?

If you watched the HBO series "Succession" earlier this year, you have an idea of what a worst-case scenario might look like. Without a rational succession plan in place, family members may struggle for control of their business. Yes, the situation is dramatized, but the reality is that it can be difficult to begin a conversation about succession.

Tribune ends merger deal, announces lawsuit against Sinclair

Those concerned about media consolidation had criticized the proposed merger between Tribune Media Company and Sinclair Broadcast Group. The concerns heated up after Sinclair made headlines in April by ordering dozens of its TV stations to present the exact same speech about "biased and false news." The cookie-cutter speech was noticed by comic John Oliver, who called it propaganda.

In June, the Federal Communications Commission announced "serious concerns" about the merger. "The evidence we've received suggests that certain station divestitures that have been proposed to the FCC would allow Sinclair to control those stations in practice, even if not in name, in violation of the law," said FCC chair Ajit Pai.

How can you prevent or handle business dispute between employees?

A successful business is not always run by those who get along and agree on everything. Like any kind of relationship, relationships between employees can involve internal disagreements and arguments. These disputes can be caused by various circumstances, clashes in personality or simply a bad day. They are also inevitable. When it comes to a major dispute within the work place, the situation could quickly escalate if not handled well.

Serious disputes could cause harm to the management or organization itself. In a worst-case scenario, a dispute would be brought to court to resolve. This could cost time, money, relationships and possibly reputations. While this may be necessary in some cases, working with those involved to prevent the dispute from going that far can be beneficial for both employees and employer.

Papa John's founder fights 'poison pill' used to keep him out

A couple of weeks ago, Papa John's founder John Schnatter resigned as chairman after reportedly using the N-word during a company conference call in May. He has since apologized for the slur and said that stepping down was a mistake; he was pressured to do so by board members he feels were acting on "rumor and innuendo."

In response, the board adopted a "poison pill" strategy to keep Schnatter, who is still a member of the board, from gaining additional influence at the company. Schnatter is Papa John's largest shareholder, owning 30 percent of shares, and he seems intent on staying involved. However, Forbes has detailed a long-standing pattern of inappropriate conduct by Schnatter and other executives.

Thinking about building a boundary fence with your neighbor?

There's a line from a Robert Frost poem, "good fences make good neighbors." Whether or not that's true, you may be considering building a fence on your property. If you're lucky, at least one neighbor would like a fence, too, and is willing to share the cost of the shared fence. Is it a good idea to work with your neighbor to build a boundary fence?

First of all, you should know that, under Florida law, your neighbors have no obligation to share the cost of a boundary fence. If they do agree to join in the project, only contract law requires them to follow through. So, if you're going to be involved in a shared building project, you should create a written contract.

Startups and an uncertain market

Entrepreneurs who have their own startups in Florida can take certain steps to help ensure that the expansion of their business is successful, even in a market that is uncertain. In order to survive, startups have to incorporate certain changes and adhere to the right business strategies.

One strategy is to make sure that there is an infusion of working capital for the startup until the business is able to create profits on its own. The amount of working capital that is necessary will depend on the manner in which the money will flow through the business, or the working capital cycle.

How to successfully manage sudden wealth

Acquiring sudden wealth can be exhilarating, but also overwhelming. Whether you acquired the wealth from a successful business venture or a lottery win, the steps you take after such gains are critical to protecting your newfound fortune. If you aren’t careful, you can fall victim to “sudden wealth syndrome” where you become unable to manage money, leading to a financial disaster. Luckily, there are ways to prevent this from happening.

Here are two steps that you can take to avoid squandering your estate and losing it all.

Before selling a business

Business owners in Florida may have various reasons for wanting to sell their business. In order to make the best decisions regarding the sale of a business and to be satisfied with the results, an entrepreneur has to make sure that they do their due diligence and prepare in advance.

One thing to know before selling a business is whether the valuation of the enterprise is accurate. A total of the assets and liabilities of the business should be obtained, followed by an evaluation of the current net worth of the income earned by the business. After determining the sale price or net worth of other similar business, the largest of the three numbers should be selected so that profitability can be factored in.

Customized purchase agreements could benefit short sale buyers

Investors in Florida who pick up properties as short sales might get good value, but they must protect their interests. The purchase agreement forms the backbone of the deal just like any other type of real estate purchase. An investor has the option of working independently or partnering with a real estate agent. Either approach requires careful attention to the details.

An investor who pursues a short sale opportunity without an agent might wish to develop the terms of the purchase agreement with the advice of an attorney. Pulling a generic purchase agreement form off of the internet might not cover issues specific to the property, and the buyer would have no guarantee that the agreement complies fully with state real estate laws. Copying agreements used by local realtors without permission might infringe upon their copyrights.

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