There are many people with an entrepreneurial spirit who want to branch out on their own to start a new business. Being an entrepreneur can be very rewarding, but it also requires a lot of hard work. Illinois is home to many people who’ve had success in creating their...

Opening a business in Illinois is a complex process that involves many different steps. One of these steps is creating a business model. You have probably heard the term “business model” but may wonder exactly what it means. A business model is a plan for how your...

A limited liability company (LLC) is the most common type of business in the United States. It’s a business structure that protects its owners from being liable if the company accumulates debts or is sued. LLCs are relatively inexpensive to set up and the...

Employee scheduling and supervision, financing, inventory and customer satisfaction are among the issues that complicate running a business and keep owners up at night. Businesses may also face the risk of legal actions and liability. Common reasons Lawsuits are not...

When individual entrepreneurs join forces to start a new business, their excitement level is usually very high. Sometimes, the excitement can block from view the need to prepare documents that may be crucial to the company’s future. One of these agreements is a...

Most Illinois residents at some point have probably taken out a loan from a bank or other financial company. Usually, these firms are above board in that the terms of the loan are clear, and a borrower has an opportunity to review and understand them. These loans help...

In Illinois, buying and selling a home involves a lot of paperwork. One of the most important documents is your real estate contract. Everyone hopes the sale process will go smoothly; however, as we all know, life is unexpected. If you are selling your home, there are...

Starting a business in Illinois can be an exciting and somewhat worrisome time for prospective business owners and investors. Even those who already have a successful business might think about certain legal issues that need to be addressed. One is understanding how...

The heart of contract litigation is based on predictability and certainty between the parties. Sometimes when events occur that are outside of the parties’ control, they are allowed to invoke their force majeure provision of their contract to relinquish any...

If you are starting your own business in Illinois, you are probably aware that business owners face many unique challenges that they would not face if they were employees. One challenge may be being held personally liable for debts owed by the business. What is...