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Issue link: https://digital.miamilivingmagazine.com/i/1532631
Miami Living spoke with Regina to gain insights into corporate governance and finance, legal strategies, and the challenges entrepreneurs face in today’s evolving business environment. Miami Living: What are the most common legal challenges that entrepreneurs and business owners face when starting or scaling their companies? Regina M. Campbell: Many common legal challenges for new or growing businesses stem from not having the right procedures or contracts in place. With respect to procedures, it is crucial to have clear guidelines for both owners and employees. For owners, a well-thought-out and clearly defined Operating Agreement or Shareholder Agreement, along with Bylaws delineating the roles of each owner/shareholder, can help prevent future business disputes. For employees, a thorough Employee Handbook and Employment Agreements can establish expectations and obligations, minimizing potential issues down the line. Another common challenge for startups or companies attempting to scale involves regulatory and compliance issues with federal and state laws and capital flow. ML: How does The Campbell Law Group help businesses mitigate risks before they become costly legal issues? Campbell: The Campbell Law Group always strives to protect its clients from risk. However, some risk is inevitable in any business matter. In transactional representation, the firm ensures that each contract is reviewed and drafted with careful attention to identifying and mitigating potential legal issues. Additionally, we take a proactive role in helping our clients implement procedures and processes to minimize business and litigation risks. In litigation matters, The Campbell Law Group advises clients that lawsuits can be costly and helps them assess the cost-benefit analysis before engaging in protracted litigation. When litigation is unavoidable, the firm strategically identifies opportune moments to engage in settlement discussions, aiming to secure favorable outcomes through mediation or negotiation with opposing parties. ML: Can you share a real-life example where your firm’s legal strategy helped a company overcome a major business hurdle? Campbell: Sometimes, cases that seem least likely to settle ultimately do. We recently resolved a business dispute where our clients were sued by individuals claiming to be members of their company. Due to these alleged members’ interference, our clients had their business improperly taken from them and were unable to continue operations. Through a strategy of persistence and tactical litigation techniques, we compelled the opposing party to drop their lawsuit in exchange for a mutual release—without any exchange of money. This favorable resolution allowed our clients to continue running the business they had built.