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This memorandum was prepared for a client who owns a US company and who was considering a joint venture in the State of Florida with a non-US individual. The venture entailed acquisition of US real property for the purpose of lease or resell.

The purpose of this article is to make business owners aware of certain limitations to that protection. Specifically, the focus here is on business law in Florida, though the concepts apply to businesses in all U.S. states and territories.