Business Law
Prepare for 2021 With an End-of-Year Analysis of Your Business
Posted on December 10, 2020
Get your business ready for 2021 by conducting a comprehensive end-of-year review.
What You Should Know About Training Your Successor
Posted on December 2, 2020
If you are reading this as a business owner, I want you to take a moment to think about what your company will look like in 20 years. Are you still in charge or has control of your business been passed down to a family member or other successor? Maybe you have sold the company entirely and walked away with a substantial profit that will provide a solid foundation for your retirement. Whatever you see as the best possible future for your business requires careful consideration and planning, but with […]
Protecting Your Small Business From Common Lawsuits
Posted on November 24, 2020
When you own and operate a small business, it can be the realization of a lifelong dream. Many business owners are drawn to the freedom and financial opportunities offered by owning and running a successful company. As a business law attorney and a small business owner, I also realize the risks that come with business ownership. For example, small business owners are always operating under the fear of facing a lawsuit. A small business can be sued for a plethora of reasons. Even if the cause of action has little […]
With New COVID-19 Restrictions Possible, Positivity Is More Important Than Ever
Posted on November 17, 2020
There is no question that 2020 has been a year like none of us have ever experienced. We are now nearly eight months into the COVID-19 pandemic, and the recent general election was perhaps the most divisive that we have ever seen in our lifetime. Back in March, the state of Illinois and the City of Chicago—along with much of the country—instituted stay-at-home orders and lockdowns of various businesses designed to slow the spread of the contagious disease. In early summer, as the count of infected individuals started to level […]
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 […]
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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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