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Collier County Business And Real Estate Law Blog

What are the benefits of buying office space?

As a business owner, there may come a point when you need to answer an important question: Is it better to lease or buy office space?

While both options have their pros and cons, there are many reasons to consider making a purchase in the near future (if it fits into your financial plan). Here are a few things you should consider:

  • You can build equity over the long run
  • Your costs remain the same, year after year
  • You can take advantage of more tax deductions
  • You can rent out any space you are not using as an additional income stream

Do you want to purchase commercial real estate?

As a business owner, there may come a point when you realize that leasing office space is no longer the right decision. Instead, it may be time to purchase commercial real estate.

While this sounds like a great idea, you don't want to push ahead until you first understand what you're getting into. For example, review your business plan to ensure that it makes sense for the current state of your company.

How to respond to a business property foreclosure threat

Foreclosures on and seizures of business properties happen for some of the same reasons that residential ones occur; a company's owners fail to make necessary payments toward them. With business foreclosures, a bank may even be able make the full amount of the loan immediately payable through an acceleration clause written into it.

With business loans, debtors who default on them are usually sent notices advising them of that fact. These letters generally include a time frame during which the owners can either bring their payments current or otherwise file for bankruptcy. If the business owner does neither, then the property will be taken back and sold by the bank.

3 questions you should ask before signing a commercial lease

As an entrepreneur, it is important for you to ask some questions about commercial leases. If this is your first time trying to secure a commercial property, a landlord may attempt to take advantage of you. Therefore, it is crucial for you to know what to look for in a leasing agreement and how to negotiate

Once you ask the right questions and do your research about the lease, you can make the right decisions for your finances and business venture. Here are some essential questions you should ask before you sign a commercial lease.

Is the real estate market improving in Florida?

Hurricane Irma devastated Florida, and now local residents are beginning to ask: How did the storm affect our real estate market? Will vacationers see Florida as a risk and stop coming? Could we be headed for a difficult real estate market downturn like the one suffered in 2008.

Some people may even be hoping to base the decision of whether to sell or buy property in Florida on the answers to these questions. One real estate company chief executive officer (CEO) wants you to calm your fears. His company, Land Solutions, is a real estate firm that analyzes decision-making regarding land purchases and real estate development. He said that the local real estate market in Florida is looking cautiously optimistic.

How can a small business collect a debt?

As a small business owner, you have a lot on your plate. With this in mind, the last thing you need is a client that doesn't want to pay. Unfortunately, this is all part of doing business.

If you find yourself in this position, there are many steps you can take in an attempt to collect the money that is owed to you:

  • Remain calm. As angry as you may be, there is no point in getting upset. This is only going to make things worse on you.
  • Know your legal rights. There are things you can and can't do in regards to debt collection, so you need to know your rights and how to remain within the legal limits of the law.
  • Document everything. This is extremely important, as it will work in your favor if you end up taking the other party to court.
  • Don't harass the other party. There is nothing wrong with attempting to collect what is due to you, but it's important that you stop short of harassment.
  • Hire a collection agency. It may not be something you want to do, but there could come a point when you have no choice but to pass this off to a professional.

What should you do before creating a business plan?

It's easy to believe that you should dive right into creating a business plan. On top of this, it's good to get excited about this aspect of launching your company. However, before you get too far ahead of yourself, there are some things you must first do.

  • Determine the overall purpose of your company. You need to know what you are setting out to accomplish, as this will guide every decision you make in the future.
  • Set short- and long-term goals. This goes along with knowing your purpose.
  • Focus on your business model. You can't create a business plan until you know what type of business model will work best for you. You may come to find that you can take more than one approach
  • Know your target market. Who is the perfect target for your product or service?
  • Test your idea. By testing your idea before creating a business plan, you can determine if it's viable. You can also determine if you need to make any changes before you move forward.

These are the types of steps you should take before creating a business plan. When you do these things, it's much easier to tackle the process with a clear mind.

Intellectual property: Trademarks, patents and copyrights

The terminology intellectual property refers to a protection of any creation that an individual has been inspired to make. Intellectual property laws protect against someone, who didn't create that work, from taking it and financially benefiting from it as if it were his or her own. It's believed that by having intellectual property protections in place, it helps spawn both social and economic development of society.

According to the United Nations, there are two primary categories of intellectual property. The first category protects all types of industry such as inventions or designs. These types of items are protected by trademarks and patents.

What is intellectual property?

As you form your business, a top priority is protecting it from thieves and copycats. You do this by using such legal tools as copyrights, trademarks, patents and agreements on confidentiality, noncompetition and licensed use.

However, you also need to know what counts as intellectual property to ensure you protect it all. The basic definition is the ownership of expressed ideas, which has a very broad meaning. Missing something vital to your business can cost you down the road.

These mortgage mistakes could delay your home closing

Once you find the home of your dreams and you're ready to make a purchase, it's important to turn your attention to the process of securing a mortgage.

While this is easier said than done, the right approach can put you on the path to success.

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