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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If you’re an entrepreneur, selecting an entity type for your company is one of the most important decisions you will make. For many small business owners, a limited liability company (“LLC”) is the ideal business structure due to the flexibilit…
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Trade secrets are some of the most valuable assets a business can possess. Critically, the Illinois Trade Secrets Act offers a broad scope of protection to businesses when it comes to their confidential trade secret information. While one of the most…
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Companies that use non-compete agreements and restrictive covenants should be familiar with several recent changes that occurred in Illinois law. While the Illinois Freedom to Work Act previously only applied to non-compete agreements for low wage wo…
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Most business transactions are solidified with a contract that specifies the terms agreed upon by the parties. It’s crucial that parties act in good faith when entering into an agreement — whether it be documented in writing or verbally. Unfortun…
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Breaches of contract are some of the most common business disputes that can arise. Since agreements are central to every business transaction, nearly every entrepreneur will face this type of claim at some point. Putting an agreement in writing is cr…
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In business litigation, monetary damages do not always address the full extent of a plaintiff’s damages. Illinois courts may award equitable remedies in lieu of — or in addition to — a legal remedy. Although a legal remedy may be appropriate to…
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Fraud can have a serious impact on your business and its bottom line. It can cause owners and investors to lose millions, injure the reputation of the company, and devalue the business. Whether the fraud was carried out by another business, a vendor,…
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