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...
Protecting Your Interests Through Practical Business Solutions
Chicago-Area Business And Commercial Litigation Legal Blog
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...
The 3 most common outcomes for Chapter 11 bankruptcy
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,...
Are noncompetes still enforceable for terminated employees?
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...
What makes a noncompete agreement enforceable?
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...