Business Law
The Dangers of Overbroad Non-Compete Agreements
Posted on November 10, 2020
Many employers require their workers to sign non-compete agreements (NCAs), especially when the employees have unique talents or abilities. Employers are within their rights to try and limit any damage that may be caused to their brand by an employee’s departure, but if they overstep legal bounds, the non-compete agreement may be declared invalid. As a business law attorney, I am often asked about non-compete agreements by my clients. I remind them that they must be careful when requiring employees to sign NCAs, but when used properly, such agreements can protect […]
The Importance of a Shared Vision in a Business Merger
Posted on November 3, 2020
Business mergers, when done right, can be mutually beneficial for all involved parties. However, there are some serious challenges that companies must overcome when dealing with mergers and acquisitions. Without the proper planning and preparation, these obstacles can lead to financial loss, a lack of shareholder returns, and possibly even complete financial devastation. As an experienced business law attorney, I understand the potential advantages and the potential pitfalls of a merger or acquisition. Whether you are interested in purchasing an existing business or you believe your business will fare better […]
What You Should Know About Incurring Startup Debt for Your Business
Posted on October 28, 2020
As a small business owner and a business law attorney, I understand that starting a new business venture requires money—or capital, as it is often called in the in the corporate world. Some new owners fund their fledgling business through investors or with money they have set aside for just that purpose while others take out loans. According to a new study, the type of loans that a business owner takes out may be linked to the future success of his or her company. Business vs. Personal Loans Unless a […]
Southwest Airlines Announces Plans to Serve Chicago’s Largest Airport
Posted on October 22, 2020
There is no question that 2020 has been a year filled with unique challenges for everyone. Individuals and families have been forced to abide by stay-at-home orders, and many businesses were shut down for extended periods. As things begin to open back up, however, some companies are finding new ways to increase their revenues by seizing opportunities where they become available. One local example can be found in the plans recently announced by Southwest Airlines to expand operations to Chicago’s O’Hare Airport for the first time in the airline’s history. […]
What You Should Know About Starting a Family Business
Posted on October 20, 2020
As a business law attorney and a business owner, I understand that opportunistic entrepreneurs always have their eyes open for the next “big thing.” They come across a business idea, invest a great deal of money and time into building the idea into a business, then sell the new venture to a larger company for a significant profit—often rather quickly. Other business-oriented individuals are looking for something quite different. They prefer to begin with an idea, build a foundation, grow the idea, and create a sustainable company that can be […]
Important Considerations for Choosing Your Successor
Posted on October 13, 2020
Family-owned businesses represent a significant portion of the American economy and are a proud tradition for many families. According to national estimates, family-owned companies comprise 90 percent of businesses nationwide and are responsible for more than 60 percent of the jobs in this country. As a business law attorney, I have helped many business owners, and I am familiar with the challenges that family businesses face. Among the toughest is planning for the future of the business, especially across generational lines. Selecting the right family member to step in as […]
How Non-Disclosure Agreements Can Protect Business Negotiations
Posted on October 8, 2020
The success of many business owners is dependent on the manner in which they approach relationships with other businesses and entrepreneurs. While a business professional should be as good as his or her word, and a handshake should still carry significant meaning, it is more important than ever that most agreed-upon details should be formalized as a written contract, especially in significant business transactions. For a large number of transactions, the first step is often a non-disclosure agreement, or NDA, designed to protect a company’s professional interests. What is a […]
Bed Bath & Beyond Announces Closures and New Strategies
Posted on October 6, 2020
When you own a business, you can never allow yourself to become stagnant, even if everything seems to be working perfectly. Over time, market conditions change, as do your customers’ desires and your competitors’ efforts to keep up. It is certainly important to keep doing the things that are working for your business, but it is equally important to recognize the parts of your business that might be slowing your growth. In practice, this could mean you need to make cuts in certain areas. The good news, however, is by […]
How a Divorce Can Affect Your Family Business
Posted on September 28, 2020
Family-owned businesses are, for many, embodiment of the “American Dream.” Opening a company with the intention of passing it down for generations to come can be both exhilarating and highly profitable. There are, however, certain events that could throw the proverbial wrench into the gears of your long-term plans, and some are not even business- or industry-related. As a business law attorney, I understand that a divorce between spouses who own or run a business together can be spell major trouble for the company. Due to the complex nature of […]
Protecting Yourself as an Entrepreneurial Inventor
Posted on September 22, 2020
Entrepreneurial inventors are part of a unique class of small business owners. Not only are they responsible for the creation of the product that they sell, but often they must take care of the front-end business management responsibilities and costs. Though an individual may have a brilliant idea, getting the idea turned into a tangible and marketable product can cost a lot of money and take years to come to fruition. As a small business law attorney and business owner, I understand the struggles that many entrepreneurs face. To that […]
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Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.
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