Group of people, united in the meeting of an organization. Paper cut out in the shape of people. Visual concept for blog: Understanding Minority Shareholder Rights.

Understanding Minority Shareholder Rights: Legal Protections and Recourse

There are a variety of risks that can come with being a minority shareholder. Despite not having the same power or control over a corporation as majority shareholders, minority shareholders still have several rights and remedies under Illinois law. I… Read More
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Limited Liability Company concept. Businessman touching LLC on a virtual screen.

How to Dissolve an LLC in Illinois

Not every limited liability company lasts indefinitely. No matter how much time and effort you put into building your business, there may come a time when you decide it’s the right time to close it. However, it’s important to understand that ther… Read More
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Closeup of businessman putting money in pocket against white background. Visual concept for legal blog titled: What is Self-Dealing in Business?

What is Self-Dealing in Business?

Members of an LLC, business partners, corporate officers, and directors have a fiduciary duty of loyalty to act in the best interests of the company. One of the most important obligations that a fiduciary must uphold in business is to avoid conflicts… Read More
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Cropped shot of an unidentifiable businesswoman extending her arm for a handshake - Concept for blog: What is an Employment Contract?

What is an Employment Contract?

Although Illinois is an at-will employment state, contracts are a crucial component of the employer-employee relationship. An employment contract can set forth the rights of both parties, outline an employee’s pay and benefits, and state the terms… Read More
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Two stylish business persons in suits having disagreement, war, conflict, standing near desktop in front of each other, face to face with disrespect expression, partner showing stop sign with hands. Concept for business dispute.

Business Disputes FAQ

From conflicts with partners to breaches of contract, every business owner can expect to encounter a dispute at some point. Legal disputes involving your company can be costly and time-consuming — and it’s important to identify and address these… Read More
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Categories: Business Dispute
Miniature figures arranged to look like they are painting a tangerine, part of tangerine is grey, the rest orange, painters on ladders and scaffolding as tangerine the size of a house to them. Concept for Deceptive practices

Understanding the Illinois Deceptive Trade Practices Act

Illinois law provides crucial protections to both businesses and consumers to help ensure they are safeguarded from deception, fraud, and concealment when it comes to trade and commerce. The Uniform Deceptive Trade Practices Act limits the use of dec… Read More
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Categories: Business Fraud
Business woman hands hold pen above charts and graphs. Concept for LLC Members’ Fiduciary Duties of Care and Loyalty.

LLC Members’ Fiduciary Duties of Care and Loyalty

Members of a Limited Liability Company (LLC) owe certain fiduciary duties to the LLC and each other under Illinois law. Among the most important are the duties of care and loyalty. Unfortunately, LLC members can sometimes violate their fiduciary duti… Read More
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Visual concept for Debt Collection Strategies for Small Businesses blog. Deadline calendar with note, coins,and a calculator on table, background.

Effective Debt Collection Strategies for Small Businesses

When you own a small business, nothing is as important as your bottom line — and when clients or other parties owe you money, it can significantly impact the success of your business and your cash flow. While small businesses may not have the same… Read More
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Purchase agreement building and keys.

What is a Purchase Agreement for a Business?

The process of selling or purchasing a business can be complex. While there are many legal documents that may be involved in the transaction, the terms, conditions, and provisions that go into a business purchase agreement are critical. Read More
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Male lawyer at table in office, closeup Concept for LLC Member Oppression Claims/

LLC Member Oppression Claims

When a multi-member LLC is formed, members usually have the best intentions. But disputes can sometimes arise when members don’t agree on how the business should be operated — or members with a controlling interest engage in conduct that is oppre… Read More
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