Business Law

Some people knew that they wanted to one day own a business when they were in elementary school. For others, the dream of business ownership came later in life. Buying a franchise is a great way to become a business owner while still benefiting from the guidance and leadership of a franchisor. Franchise owners have the huge advantage of buying into an existing business model and receiving ongoing assistance from the parent company. However, success is not guaranteed. It is essential that anyone thinking about purchasing a franchise do their […]

If you are an entrepreneur interested in starting a business, your mind is probably racing with ideas and possibilities. One of the most important things you can do to start your business off on the right foot is to create a detailed business plan. As the old saying goes, “Failing to plan is planning to fail.” This statement is especially true in the business world. Approximately 80 percent of new businesses fail within their first year and a half. In order to give yourself the best chances possible of success, […]

Running a small business is no easy task. Not only do you need to offer a unique product or service, abide by all tax laws, and cover the cost of your overhead, but you must also ensure your employees are happy. To accomplish this, you need to know how to pay them properly. For most employees, this means offering them competitive hourly wages. Regarding sales staff, however, there are generally two types of compensation: salary and incentive, and determining which one is right for your business can be a tough […]

Well-written business contracts are the backbone of a successful business. If you own a business, you may deal with sales-related contracts such as purchase orders, bills of sale, and warranties. You probably manage employment contracts such as employee agreements, independent contractor agreements, confidentiality agreements, and non-compete agreements, as well. Whatever types of contracts your business uses, it is essential that these contracts be written accurately and in a way that makes them legally enforceable. It is easy to make a mistake in a contract that changes the nature of the […]

Google, Yelp, Facebook, Angie’s List, Better Business Bureau, Foursquare, and a host of other websites allow customers to leave reviews about the businesses they frequent. While customer feedback is a valuable resource for any business owner, online review websites are also vulnerable to misuse. A person can leave a review for a business even if he or she has never interacted with the company. In addition, there is little stopping customers from posting reviews that are completely unfounded. If you are a business owner, you should be aware of how […]

The last six weeks or so have been like nothing any of us have ever experienced. In fact, most of us could never have imagined a real-world scenario in which our city, state, and country would need to be shut down almost entirely. Illinois has been under a shelter-in-place order since March 21, and many other states have similar orders in place. Unfortunately, the stress and uncertainty of the situation have caused many people to behave in ways that are uncharacteristic. Social media, for example, is full of emotionally-charged political […]

Business contracts are some of the most important elements of a successful business. However, when one party does not uphold its end of a business agreement, the other party can suffer considerable harm. A breach of contract occurs when one party does not fulfill the obligation it agreed to in a contract and the non-breaching party, or injured party, suffered financial harm as a result. The breaching party may be required to “remedy” the situation though one of several means. If your business has suffered due to a breach of […]

When you think about the type of security your business needs, your first thoughts may turn to installing surveillance cameras or an identification card entry system. Of course, these kinds of physical measures can help you protect your company, particularly if you own a retail outlet or run an office that works with sensitive information. What about your more intangible security concerns? How can you protect ideas, works, designs, symbols, logos, and other intellectual property? In my practice as a business law attorney, I have helped many entrepreneurs and business […]

For an entrepreneur, one of the most important decisions to be made in the early stages of business ownership is the selection of an appropriate business entity structure. With a number of options from which to choose, deciding on the best one requires careful consideration of the advantages and potential drawbacks of each, as well as the associated legal requirements or restrictions. Many business owners find that structuring as a limited liability company, or LLC, offers an ideal balance between risk and reward. An LLC is Not Necessarily a Corporation […]

Throughout the business world, there are many stories of family-owned companies that started small and grew to become social and corporate icons. Famous examples include The H.J. Heinz Company, S.C. Johnson, and the Ford Motor Company. However, owning and running a family business can be extremely challenging, and determining appropriate roles within the company for family members is often particularly difficult. Several of my clients recently addressed this very topic with me, so here are few things to keep in mind as you work toward the success of your family […]