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 deceptive trade practices during the course of business. Under this statute, a party who has been injured…
Continue reading ›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. Unfortunately, it can sometimes happen that a party makes a false or misleading statement to induce…
Continue reading ›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, a business partner, or another party, the ramifications can be long-lasting and…
Continue reading ›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 ways to cheat. A few examples are a partner funneling money to another entity he or she owns under…
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