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Selling your Illinois business may allow you to secure your financial future, whether you plan on retiring or simply starting a new chapter in your life. Liquidating your business may also be ideal if you don't think it has room to grow from a profit or revenue...
Illinois residents who follow business and financial news will probably be aware that Bed Bath & Beyond came close to fining a Chapter 11 bankruptcy in January. The company escaped that fate because it managed to negotiate a $1 billion bailout package. The deal...
When a business has financial trouble and considers bankruptcy, it will have two ways of finding money to pay its creditors. One of those options involves Debtor-in-Possession (DIP) financing, which can be helpful for both a business debtor and its creditors. What is...
Any business transaction’s success depends on the parties meeting their contractual duties. Unfortunately, sometimes one party agrees to do something but acts in a way that suggests otherwise. That party’s behavior can make it difficult for you to trust them and may...
Owning an Illinois business with a partner can be one of the most rewarding experiences. Unfortunately, sometimes, an internal dispute might arise. There are a few ways you can resolve things. Partnership agreement Although this is only an option for settling...
Tortious interference in Illinois is a type of tort that involves an interference with a business contract. A plaintiff files a claim against a defendant who intentionally undermines a contract or business relationship and causes economic damages. The tort of...
Non-compete mistakes employers should consider Illinois businesses commonly require their employees or parties from whom they purchased a business to sign non-compete agreements. The contracts help companies protect trade secrets, client lists, and other critical...
While you may consider yourself a good business partner, you never know what kind of situation in which you might find yourself. Partnership disputes can arise for many different reasons, so preparing for the worst-case scenario is essential. This article will discuss...
It can be a nightmare for any company when a recently terminated employee serves them with notice of their intent to file a wrongful termination lawsuit against them. If this happens to your company, knowing the allegations that the lawsuit is likely to be based on...
There’s a lot that goes into running a successful business. You probably have some sensitive information about your processes, recipes, designs or clients that would ruin or seriously harm your business if it were to fall into the hands of a competitor. With employee...
