Contracts usually outline the terms of a deal and provide a legal remedy in the event there is a dispute. However, under Illinois law, a party may still be entitled to commence a legal action in the absence of a contract to recover their damages shou…
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When people think of business theft — also referred to as embezzlement — criminal activity is usually what comes to mind. While embezzlement is typically a white-collar crime that can come with serious legal ramifications, including jail time and…
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A business dispute can be seriously disruptive to your company’s operations and bottom line. One of the first questions you might have if you’re facing litigation is how long your case will take to resolve. Importantly, every commercial case is u…
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Many companies have trade secrets that they have invested a significant amount of time and money into developing. Trade secrets are an essential form of intellectual property protection — and can sometimes be an easier alternative to securing paten…
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Trusts are often used in estate planning to provide a number of benefits — including protecting assets from creditors and transferring wealth to the next generation. A trustee has considerable authority over how the assets in a trust are managed an…
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Illinois law specifies that any shareholder in a close corporation owes a fiduciary duty not only to the corporation, but to other shareholders. This includes minority shareholders. In addition, the shareholders of a regular corporation might also ow…
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Restrictive covenants, such as non-compete and non-solicitation clauses, are becoming increasingly common in employment contracts. These types of clauses are meant to prevent an employee from offering the same services as their former employer or poa…
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There are many benefits to setting up a trust, and a wide variety of trusts can be created, depending on your objectives. These legal instruments fall into two primary categories — trusts can be either revocable or irrevocable. Although both types…
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Most people think of litigation when it comes to resolving breach of contract matters — but it’s important to be aware that other options exist. Alternative dispute resolution methods such as negotiation, arbitration, and mediation can help parti…
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A breach of contract lawsuit can result in significant financial losses for a company, as well as reputational harm, and other damages that are difficult to quantify. Fortunately, a wide variety of damages are available to an aggrieved party who prev…
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