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There are many situations in business that involve a fiduciary duty. These types of relationships may arise between directors, officers, controlling shareholders, and with any party that has an obligation to act in the best interests of another. If t… Read More

When a party enters into a business deal with another individual or company, it’s always best to have an enforceable contract in place. But in cases where a written agreement does not exist — or a contract is not legally enforceable for some reas… Read More

In business, directors, officers, and controlling shareholders owe each other and the corporation certain duties. This means that they are trusted to act in the best interests of the company when making business decisions and carrying out transaction… Read More

A breach of contract is a common business dispute that can cause your company to suffer significant economic harm. It can also have a devastating impact on your company’s reputation and future. Unfortunately, it often happens during the course of d… Read More

When you’re an entrepreneur, business disputes are inevitable. Unfortunately, when they arise, they can result in significant harm to your company and its bottom line. If you’re facing a business dispute — or you simply want to be prepared for… Read More

“Because Wallace and Joan have not authorized dividend distributions, Martin has received no financial benefit from his minority interest in E&E. Meanwhile, Wallace has approved his own annual compensation in the millions of dollars.” Smith v… Read More

Assuming a member has a “proper purpose,” Illinois LLCs are required to provide documents a member demands. Within ten days of a member’s demand, the company is required to either: 1) produce the requested documents; or 2) respond i… Read More

Disorganization, financial difficulties, and greed can lead to a partner taking more from a business than they’re entitled. This, of course, comes at the expense of their partners. In closely held businesses, there are unfortunately numerous wa… Read More