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...
Strategic Legal Guidance To Safeguard Your Business Interests
Partnership Law
What to do about an anticipatory breach
An anticipatory breach occurs when the party who agrees to deliver goods or services notifies the other party that it will not perform, i.e., deliver the goods or services by the date specified in the parties’ contact. Illinois law allows for several remedies in the...
What are the options for resolving a partnership dispute?
In Illinois, business partners can have disputes for various reasons, and dispute resolution methods can materially affect the partners’ business relationship. In some cases, the partners may want to preserve their status and continue with the business while other...
How to handle an anticipated breach in Illinois
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...
What are the best ways to resolve partnership disputes?
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...
Clear partnership agreements are critical
The forming of a business partnership can feel like a very straightforward kind of crossroads. On one side, you wait for a different opportunity. On the other, you accept the new adventure in front of you, working alongside someone you know well and trust. It can feel...