Receiving notice of a lawsuit can be alarming for any business owner. Whether a claim involves a contract dispute, employment matter, customer complaint or partnership conflict, the first few days after being served are often truly consequential. Unfortunately, many...
Securing capital is a pivotal milestone for any entrepreneur in Chicago. In this context, a commercial loan provides the necessary fuel for growth. However, the excitement of an approved financing offer can cloud a business owner's structural judgment, driving them to...
Many aspiring business owners spend a great deal of time thinking about how to build successful companies, but give very little thought to what might happen if disagreements arise between partners or shareholders later on. Unfortunately, even strong business...
When a business hires someone, they have to determine if the worker meets the criteria to be classified as an employee or a contractor. This is more than a payroll detail because it impacts various benefits like taxes, wage obligations, unemployment coverage and...
Seeking private investors can be an exciting step for a growing business. Outside funding may help a company expand operations, hire employees, develop products or enter new markets. Yet, this is a process that must be approached thoughtfully, not only with...
Employment noncompete agreements have become relatively controversial. Their widespread use may potentially have a chilling effect on job mobility for employees as a whole and can have a detrimental impact on earning potential for individual workers. Those who are...
Contracts help to protect businesses and their clients, so it’s critical that they’re handled properly. A business contract does more than just record the business deal. It answers questions and sets standards for the deal. When a company is dealing with another...
The more restrictions employment contracts impose on individuals, the greater the risk of their violating an agreement later. Employment contracts help protect against the possibility of misconduct with economic consequences in the future. Businesses have long relied...
Business partners might be completely aligned now — holding unified goals, mutual trust, and a shared vision. However, businesses rarely fall apart in a single moment; most erode slowly, not from betrayal but from a failure to anticipate what may come next. That’s...
Fiduciary duty is a legal obligation that requires one party, the fiduciary, to act in the best interests of another party, the principal or beneficiary. Based on trust, confidence and loyalty, fiduciary duty involves various professional relationships, such as those...