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Launching and successfully operating a business in the Chicago metro area without clearly drafted contracts presents significant challenges. Business agreements should outline expectations, rights, and duties. Without clear contracts, a company may flounder. Indeed,...
No one forms a business expecting that one of the partners will walk away. However, this happens all the time. One partner may have had enough and does not want anything to do with the business anymore. Sometimes, differences in business philosophy can lead to a...
Hundreds of thousands of new companies are started each year, and between 30% and 40% of them fail. In other words, between 30% and 40% of new small businesses are liquidated and the investors lose all or most of their money. If you define failure as failing to reach...
Hundreds of thousands of new companies are started each year, and between 30% and 40% of them fail. In other words, between 30% and 40% of new small businesses are liquidated and the investors lose all or most of their money. If you define failure as failing to reach...
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...
Business owners who find themselves struggling to keep their business running may consider filing for financial relief with a Chapter 11 bankruptcy petition. The process generally begins by filing a petition with the bankruptcy court. In addition to the court filing,...
Intellectual property can be a substantial liability. That's because many employees often have access to this information. To ensure their most valuable trade secrets are protected, business owners likely enforced noncompete agreements to keep them this data out of...
A business’ value lies in keeping a competitive edge. Whether you have trade secrets, valuable clients, or both, you don’t want a former employee to let your competitors know why you’re successful. To protect your company, you may have your employees sign noncompete...
