Business Law

For small business owners, making intelligent financial decisions is essential for success. Studies show that an astounding eight out of ten new small business owners fail within the first year and a half of starting their business. Many of these businesses go bankrupt because the owner made major mistakes with how he or she managed finances. Whether it is overestimating future profits, underestimating expenses, or not accounting for taxes, money mistakes can cost a business owner his or her livelihood. In my practice as a business law attorney, I help […]

Choosing to become a business owner can be on the biggest decisions of a person’s life. Successfully running a business takes an incredible amount of dedication and hard work. However, there are also great benefits, both personally and professionally, to being a business owner. If you are thinking about purchasing a business or starting your own business, learn about the most common money mistakes that new business owners make so that you can avoid the same missteps. Hope for the Best but Plan for the Worst You would not be […]

A prominent musical conductor has brought a lawsuit against the Chicago Federation of Musicians for violating the Illinois wage payment act, as well as for breach of contract. He claims that the trade union abandoned him in his most critical time of need. It is not yet known if Chicago Federation of Musicians failed to uphold its duties or not. However, the story remains a reminder of the importance of remaining compliant with Illinois employment laws, as well as the value of careful contract drafting and review. Conductor Claims He […]

As a business owner, you have many responsibilities, and protecting your business and its best interests are certainly among the most crucial. Ensuring the staff you hire adheres to your policies and standards is critical because the livelihood of your business depends on it, as does your reputation. If you are a business owner who chooses to work with independent contractors, you are especially at risk for financial loss and headache if you do not handle the legal aspects of your relationship with those contractors correctly. Why Working with an […]

If you own a business, you probably spend long hours and untold amounts of stress to keep your business profitable. While making money is important, however, it might not be your primary motivation. Many—if not most—business owners are driven by their desire to serve their customers and to keep their clients coming back year after year. With that said, it is common for customers to express their gratitude or satisfaction by continuing to do business with a particular company or, depending on the nature of the business, leaving a large […]

As a business lawyer and a proud business owner, I realize that small and medium-sized businesses represent the backbone of the American economy. Such companies, in turn, rely on various types of business contracts to keep them running properly. Contracts are used to formalize purchase agreements, loans, employer-employee relationships, and a wide variety of other applications. When you sign a contract, you do so with several expectations. First, you expect that you will comply with the terms and provisions of the agreement. Just as importantly, you expect the other party […]

Making the decision to sell a business is never easy. If you are a business owner, you have probably invested a tremendous amount of time, energy, and effort into running the company. You might be interested in selling the business because you are ready to retire, you want to move on to new business ventures, or because you are simply ready for a change. Whatever your reasons may be, selling a business can be a complicated process. In my practice as a business law attorney, I have helped many clients […]

In my practice as a business law attorney, I am regularly asked by my clients about ways that they can protect their businesses. While there are many different strategies that could be used to afford your company various levels of protection, one of the more common ways is the use of non-disclosure agreements or NDAs. There has always been a bit of confusion in the general population about exactly what the purpose of an NDA is and when to use such an agreement. Non-disclosure agreements, also known as also known […]