Author: Linsi Tuttle

For an entrepreneur, one of the most important decisions to be made in the early stages of business ownership is the selection of an appropriate business entity structure. With a number of options from which to choose, deciding on the best one requires careful consideration of the advantages and potential drawbacks of each, as well as the associated legal requirements or restrictions. Many business owners find that structuring as a limited liability company, or LLC, offers an ideal balance between risk and reward. An LLC is Not Necessarily a Corporation […]

Throughout the business world, there are many stories of family-owned companies that started small and grew to become social and corporate icons. Famous examples include The H.J. Heinz Company, S.C. Johnson, and the Ford Motor Company. However, owning and running a family business can be extremely challenging, and determining appropriate roles within the company for family members is often particularly difficult. Several of my clients recently addressed this very topic with me, so here are few things to keep in mind as you work toward the success of your family […]

The last few weeks have been some of the most challenging that most of us have ever dealt with. The state of Illinois has been under a stay-at-home/shelter-in-place order since March 21, which means that residents are only allowed to leave their homes for essential reasons, such as to buy food or to care for a family member. Non-essential businesses have also been closed for several weeks, and while many people have started working from home, many others are unable to do so and are now out of work. With […]

Your path to success in a business venture begins long before your ever open your doors to the public. For most entrepreneurs and would-be business owners, the journey begins with an idea for a new product or service, or a variation of an existing one. A raw concept, however, is rarely a sufficient foundation upon which to build your investment; it must be developed, reviewed, amended, and tested. Then, the cycle should be repeated several times as the idea gradually transforms into a legitimate business plan or strategy. During the […]

Over the last few weeks—and especially the last few days—we have all experienced things that we never imagined would be a part of our lives. Local, state, and national leaders have taken unprecedented action in efforts to keep our country as safe as possible from the threat presented by the novel coronavirus strain (COVID-19) that has spread around the world. Just a couple weeks ago, we were all going to work and school like normal. We were seeing increased encouragement to wash our hands and avoid touching our faces, but […]

Family businesses are a valuable part of the American economy and provide jobs for countless individuals. If you own a family business, you are probably well aware of the challenges and difficulties that go along with this unique and fulfilling lifestyle. One continued challenge that all business owners face is planning for the future of their business. They know that they will eventually need to choose a successor to take over the business when they retire who understands the business and can manage it in a way that brings continued […]

In my experience as a business law attorney, I have seen many well-intentioned employers make mistakes that cost them dearly. One of the most common mistakes that employers fall victim to is misclassification of workers. There are major differences in the rights and responsibilities associated with employees versus independent contractors. If you classify a worker as an independent contractor and he or she is actually an employee, you could be subject to a number of financial penalties and costs. The best way to ensure that you are not breaking any […]

Clearly outlining your company’s policies, standards, and expectations is one of the most effective things you can do as a business owner to create mutually beneficial relationships between you, the owner, and your employees. Establishing thorough employee policies will not only help you clarify operational standards with your staff, it will also help reduce your chances of running into problems with various business law compliance issues. In my practice as a business law attorney, I have helped many small business owners create clear, concise policies that cover a wide range […]