A recent episode of the popular show “Bar Resucue” featuring Jon Taffer should be a warning to business owners about how important it is to have properly drafted Florida corporate documents.
The season finale was about two friends who became business partners, and their friendship suffered as a result.
One of the turning points of the episode is when Jon Taffer found out that the second owner, who supposedly owned 15% of the business did not have any paperwork, specifically corporate documents, to show for it. This created a strong rift between the friends because there was no documentation for this deal.
In order to solve this problem, Jon Taffer had the main owner bring his lawyer in to draw up the paperwork.
This action shows two things:
- How important it is to have a written agreement between business partners
- You should have an attorney draft these corporate documents.
As a bar and business expert for over 30 years, Jon Taffer did not tell these owners to have the paperwork drawn up on a website or “discount service.” He insisted that an attorney be called in to draw up the documents.