business law

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...

If you are a new business owner in Illinois, one of your first steps will be determining which type of business formation you want for your business. The formation you choose will serve as the blueprint for your business and will have a significant impact on all...

As you established your small business in Illinois and watched it grow into a lucrative enterprise, you may have been focused on the here-and-now. However, the day will eventually come when you want to leave the business, for example, to retire. If so, you will need a...

Organizing a new business can be an exciting, and no one in the midst of this adventure wants to contemplate any change to a business plan whose completion that probably required several months of dedicated effort. Unfortunately, the future is infamously uncertain,...

A lot of small businesses in Illinois and Missouri pride themselves on their hard work and the strength of their word. This means that most of these businesses enter into agreements with the full intent of keeping their promises. But, as you’re probably well aware,...

With last year’s historic boom in startups still surging ahead in 2021, many entrepreneurs are looking for ways to attract capital. In order to tap into appropriate financing sources, however, it is wise for the Illinois business owner to be aware that the choice of...

Most businesses are privately owned, meaning they are not traded on one of the public stock exchanges. Many of these businesses are organized as privately held corporations or as limited liability companies, or LLCs. When affairs are operating as intended, the...

Businesses in Illinois enter into contracts every day with the expectation that each side will hold up to their end of the deal. Contracts form the backbone of many business dealings, but things do not always run smoothly and sometimes a party ends up breaching the...

New business owners may feel overwhelmed by the number of decisions they have to make when forming a business. They may wonder what their options are when forming a business. Business formation should not be a decision new business owners worry about if they are armed...

When an Illinois business owner enters into a contract, he assumes that it is valid and legal. A contract is a legal agreement between multiple parties. It usually details specific terms between the parties and ensure that everyone is in agreement. Contracts help...