Illinois businessmen and businesswomen who would like to own their own business have two options: start your own business or buy someone else’s. There is a certain sense of pride that comes along with becoming an entrepreneur, formulating your own business idea, and starting from the ground up. However, people often forget the number of benefits that come […]
4 Practical Considerations for Buying a Business in Illinois Read More »
Anyone who is starting a business will need to select a business entity or model with which they will follow. A corporation and limited liability company (LLC) are two different types of business entities that both offer their own benefits. Depending on how you would like ownership, taxation, and management to look for your business, you can
What Is the Difference Between a Corporation and an LLC? Read More »
Many small business owners opt to have a limited liability company (LLC) business structure. This provides the owner, or multiple owners known as “members”, with more personal protection but less formality than other business entities. Those who decide to follow an LLC structure should have an operating agreement in place to ensure that all members are on
Why Is It Important to Have an Operating Agreement for an LLC? Read More »
If you have a self-made, self-owned business, the connection that you have with your work is likely more than just business. Small business owners typically view their work as more than just a job. In many cases, it is their life’s passion and work all combined into one place. Building a business can be an exciting,
Why LLCs Are a Great Option for Illinois Small Businesses Read More »
Anyone who is starting a business will need to select a business entity or model with which they will follow. A corporation and limited liability company (LLC) are two different types of business entities that both offer their own benefits. Depending on how you would like ownership, taxation, and management to look for your business,
LLC vs Corporations Read More »
(This post is part of a series on starting a business. This page will continue to add links as we I add more content.) COVID-19 is hitting businesses hard and wreaking havoc on the economy. As businesses and their employees are enduring mass layoffs, many are uncertain about what the economy’s status will be after this
How to Start a Business Read More »
Covid-19 and the SARS-CoV-2 virus have not only wreaked havoc on people’s health, but also on businesses. One common question during this difficult time is whether contracts are still enforceable, especially in light of travel restrictions and social distancing measures. Additionally, because many businesses are losing revenue, they are unable to otherwise honor contracts. So
Contracts During the Covid-19 Pandemic Read More »
Dear family, friends, colleagues, and anyone who reads this. I need your help. The Covid-19 Crisis is a difficult time for all of us. We are either concerned about the health of our loved ones, our livelihood, our children’s education, or all of the above. That all said, we should still be vigilant about how our
Do Not Strip the Rights of Children with Disabilities During Covid-19 Crisis Read More »
As a contract lawyer, many clients ask me if their contracts are legally binding. By definition, if an agreement meets the requirements of a contract, then the contract is legally binding. Further, contracts are legal documents by their nature. So what makes a contract binding and enforceable? And what are some factors that make a
Are Contracts Legally Binding? Read More »
Contract negotiations sound intimidating. Whether you hire a contract negotiation lawyer or negotiate on your own, there are many strategies you can utilize to get the most favorable terms for your contract. However, any contract lawyer will tell you that the negotiation process starts early. Many clients come to me after having already ‘negotiated’ their
When Do You Negotiate a Contract? Read More »