Many laws unique to Key West affect local businesses. A business entity operating within Key West must ensure that it complies with all applicable local laws. For a business to legally transact, it may need to obtain leases or permits for the local area. Businesses in Key West also have unique factors to consider about how the company should be structured.
Business Transactions in Key West
In order to contract with consumers and local businesses, you will need to know the applicable business laws in Key West. A contract can help you to avoid business disputes in the future, as well as provide predictability for future operations, but it must be drafted according to Key West and Florida law. In Key West, a valid contract must meet several requisites. If they do not, the document may be found to have no legal effect. Furthermore, contract law has its own unique language that may be difficult to interpret. Another concern is that a party to a contract sometimes fails to live up to its end of the bargain. The disputes that result are often settled in local Key West courts.
Business Structure in Key West
For a business opening in Key West, there are a few available business structures that you will want to know about. Sole Proprietorships, Partnerships, Corporations and LLC's are among the options. Each of these business structures has its own advantages and disadvantages in Key West, and determining which structure is right for your business can be challenging. Local law must also be followed in dissolving a business. Attorneys in Key West can help you in this process.