For a start-up company, there are a number of decisions that sometimes have to be made. On top of licensing, estate purchases and hiring staff, companies should focus on the multitude of legal considerations that could have an impact on their up-and-coming business. For example, a start-up in Fort Lauderdale should review Florida law and ensure regulatory compliance. When the process of starting a business is approached properly, some of the frustrations and setbacks that others have experienced can be avoided.
With plans to build a waste-to-fertilizer plant, a start-up company in Florida recently bought a 50 acre site in Taylor County. The Taylor County Development Authority gave the company a $5 million loan, which will enable the start-up to move forward with site development and plant engineering. The company will use a tax-free bond issue to repay the Development Authority.
According to the terms of their agreement, the start-up will construct the plant with an investment that exceeds $200 million and hire 45 full-time workers in the county. Once the plant becomes operational, 200,000 tons of urea fertilizer are anticipated to be generated every year. Biomass from local waste and wood waste will be used to create the fertilizer.
Owners of start-up companies have a lot to focus on, but it is important for them to make sure that easily identifiable issues do not wreak havoc on their business. Whether a start-up is in the early stages or has already taken off, pursuing legal representation can be smart. Anyone who wants to ensure their company complies with regulations and does not neglect the various legal considerations could find value in talking to an attorney.
Source: The Advocate, “BioNitrogen buys Florida site,” Mar. 11, 2014