Tag: attorney
How Can Arbitration Be Used to Resolve Contract Disputes?
Posted on April 18, 2024
In today’s fast-paced business world, contract disputes are a common challenge that can disrupt a business’s operations and drain its resources if they are not managed effectively. While there are a variety of options for addressing these issues, arbitration has become a popular way to resolve legal disputes efficiently and privately. An experienced business law attorney can provide guidance and representation during the arbitration process, helping address legal issues swiftly and effectively. What is Arbitration? Arbitration is a form of alternative dispute resolution (ADR) in which the parties will work […]
How Should Intellectual Property Be Addressed in an Illinios Estate Plan?
Posted on April 18, 2024
Intellectual property (IP) can sometimes be overlooked during the estate planning process. However, these assets can be among the most valuable parts of an estate. Authors, artists, inventors, or entrepreneurs who own intellectual property will need to understand the value of these assets, the steps that may be taken to protect their family’s financial interests, and the best options for addressing these concerns in an estate plan. By doing so, a person can ensure that his assets will be managed according to his wishes both during his lifetime and after […]
How to Use Donor-Advised Funds for Charitable Giving
Posted on April 4, 2024
Charitable giving is not just an act of generosity; it is a pivotal component of strategic estate planning. While there are many different types of charitable giving strategies, donor-advised funds (DAFs) can be an especially effective vehicle for philanthropy, offering a blend of flexibility, convenience, and tax benefits. Understanding how to leverage DAFs can significantly enhance your charitable contributions and play a crucial role in your estate plan. An experienced attorney can provide guidance on the use of these tools and other strategies that can help you manage your assets, […]
What Business Owners Need to Know About Business Transaction Taxes
Posted on March 26, 2024
Taxes can apply to a range of business activities, and they can have significant implications on a business’s financial planning and legal concerns. For business owners in DuPage County, understanding the intricacies of business transaction taxes is crucial. Compliance with federal and state tax laws can help a business avoid audits and ensure that it will not face penalties or financial difficulties due to taxes owed. Whether you are a seasoned entrepreneur or are new to the business world, an experienced attorney can provide tax planning services and ensure that […]
Protecting Your Ownership of Employee-Created Intellectual Property
Posted on September 8, 2013
An employer might assume that any intellectual property created by an employee in connection with the employee’s job duties will automatically become the exclusive property of the employer. However, without taking the necessary measures to ensure this, that assumption could prove incorrect. Employee Inventions Where There Is NO Enforceable Assignment-of-Inventions Agreement. Often, in the absence of an assignment-of-inventions agreement, an employee presumptively owns any inventions that he or she creates that are entitled to protection under applicable trade-secret or patent law. This means that the employer may have no ownership […]
How Contract Law Affects Small Businesses
Posted on August 3, 2013
The last thing a small business owner wants to think about is what type of legal forms to use when entering in contractual agreements. Contracts take time to draft, they are complicated and very dry. Some business owners would like to have them drafted professionally, but they are worried about the price. A solid contract, however, is not only worth the cost of a qualified Illinois business attorney, but it will likely avoid any disputes down the road that can be very costly. Contracts that are drafted professionally are based […]
How the Law of Agency Affects Small Businesses
Posted on June 27, 2013
After setting up a business, a business owner must ensure that it operates efficiently and that it is protected from potential liability. Yes, every business, big and small, faces some level of potential liability. This is particularly tricky for small businesses that have limited resources. It is crucial for a small business owner to have adequate checks to minimize potential risks. “How these risks can come from a variety of sources. Take the conduct of an agent, for example. Under Illinois law, a business may be held liable for the […]
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