Tag: business law

The Pros and Cons of Incorporating Your Small Business

Posted on August 31, 2023

Starting a small business can be an exciting endeavor, but it also comes with many important decisions to make. One crucial issue business owners will need to address involves whether or not to incorporate a business. Incorporation involves forming a legal entity separate from the owners of the business. This entity has its own rights and liabilities, protecting you as the owner from personal liability in case something goes wrong. As you address issues related to business formation and entity selection, you can work with a business law attorney to […]

Posted in Business Law

5 Ways a Business Law Attorney Can Help With Mergers and Acquisitions

Posted on August 23, 2023

Mergers and acquisitions (M&A) are complex processes that require careful consideration, thorough analysis, and experienced legal guidance. Whether you are planning to merge with another company or acquire an existing business, the involvement of a knowledgeable business law attorney is crucial to ensure a smooth and successful transaction. At the Gierach Law Firm, we can assist with: 1. Conducting Due Diligence One of the primary roles of a business law attorney in mergers and acquisitions is conducting due diligence. This involves investigating the target company’s financial records, contracts, assets, liabilities, […]

Posted in Business Law

7 Common Intellectual Property Issues That Affect Startups

Posted on August 16, 2023

In today’s digital age, startups are at the forefront of innovation and technological advancements. As these businesses develop and grow, it is crucial for them to understand and protect their intellectual property rights. As they do so, they may face a number of challenges, and they will need to understand the legal issues that may affect them. By working with a business law attorney, startup owners can make sure they are making the right decisions, taking the correct steps to protect their rights, and building winning business strategies that will […]

Posted in Business Law

Tax Planning Strategies for Small Businesses

Posted on August 7, 2023

As a small business owner, it is important to understand the significance of tax planning and how it can benefit your business. By implementing effective tax strategies, you can minimize your tax liability and maximize your overall profitability. As you address tax-related concerns, you will want to do the following: 1. Understand Your Tax Obligations The first step towards effective tax planning is to have a comprehensive understanding of your tax obligations as a small business owner in Illinois. This includes knowing the different types of taxes that apply to […]

Posted in Business Law

How to Choose the Right Business Entity When Restructuring a Business

Posted on July 31, 2023

For business owners, putting a new business structure in place can be an exciting but challenging endeavor. One important decision you will need to make during this process involves choosing the right business entity for your restructured company. The type of entity you select will have significant implications on various aspects of your business, including taxation, liability protection, and management structure. Therefore, it is crucial to carefully consider all the options available before making your decision. The Importance of Choosing the Right Business Entity Selecting the appropriate business entity is […]

Posted in Business Law

What You Need to Know About Business Succession Planning

Posted on July 24, 2023

There are many elements of running a successful business. In addition to managing day-to-day operations, business owners will need to plan for the future. This will not only involve developing successful business strategies, but also making plans for what will happen to the business after the owner leaves the company. By creating a business succession plan, a business owner can make decisions about the future transfer of ownership and management of a company, ensuring that their business will be able to continue operating successfully after their retirement or death. For […]

Posted in Business Law

Can Mediation Be Used to Resolve Business Partnership Disputes?

Posted on July 17, 2023

Business partnerships are formed with the intention of working together towards a common goal and achieving success. However, disagreements and conflicts can arise in any partnership, which can threaten the harmony and profitability of the business. When faced with a partnership dispute, business partners have several options to resolve their issues, including mediation. What Is Mediation? Mediation is a dispute resolution process in which a neutral third party facilitates communication and negotiation between the parties involved in a dispute. Unlike litigation, where a judge makes the final decisions about how […]

Posted in Business Law

Contracts 101: Essential Elements and Best Practices

Posted on July 12, 2023

While a contract might seem like a fairly simple, everyday legal concept, there is more to a contract than meets the eye. There are a few essential elements that must be present in order for your contract to be considered legal and enforceable. If you miss an important element, the contract you thought you could rely on may be deemed unenforceable. Each essential element must be present in every contract you rely on. There are also a few best practices, that while not always essential, can strengthen your business contracts. […]

Posted in Business Law

Evaluating the Advantages and Disadvantages of Purchasing a Franchise

Posted on June 2, 2023

naperville business law attorney

When we think about business owners, we often imagine an individual establishing a startup or building a business from the ground up. However, for many entrepreneurs and prospective business owners, buying a franchise offers an alternative option with many advantages. In this blog, we will evaluate some of the advantages associated with franchise ownership as well as the potential downsides of buying a franchise. Benefits of Owning a Franchise in Illinois A franchise business is one in which the company owner grants licenses allowing other parties to sell its products, […]

Posted in Business Law

Social Media Use, TikTok, and Your Small Business

Posted on May 18, 2023

naperville business lawyer

For several months now, lawmakers have expressed security concerns regarding the wildly popular video app TikTok. Several countries have already forbidden government employees from using the application, citing worries over user data being shared with the Chinese government or fears that the application will be used to spread misinformation. The future of TikTok in the United States is uncertain, and some lawmakers have pushed for the app to be banned entirely. In fact, the governor of Montana signed a bill this week to ban TikTok in the state. However, banning […]

Posted in Business Law

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