Does My Family Business Need a Succession Plan?

Mom-and-pop stores and restaurants have been the foundation of the United States since the country’s origin. Many Americans pride themselves on their work and ability to support their families, with additional fulfillment given to those who do this by running their own business. In the best-case scenarios, family businesses will be passed down from generation […]

Reasons to Form an Illinois S Corporation

When starting up a company in Illinois, you will research various formation options available under state law and do your research to find the right fit for your business. Many in your position lean towards a corporation because of the benefits it offers, both for owners and the entity. However, you may not realize that […]

What Are the Options When Buying or Selling a Business in Illinois?

Because every business is unique, every deal involving a purchase or sale will bear numerous, distinct details that need to be addressed from a structuring point of view. Still, there are just three basic options for buying or selling a business: Stock purchase, asset acquisition, or a merger of the companies. The Illinois Business Corporation […]

Four Reasons Your Illinois Business Needs General Counsel Services

Illinois business owners know the importance of retaining a lawyer for formation and start-up, as well as drafting and reviewing contracts. Not as many realize how critical it is to have access to general counsel on a regular basis. Some stakeholders may only reach out to an attorney after an issue has emerged, at which […]

What You Need to Know About Licensing Music for Your Business

If you own a business that relies on customers coming into your building—such as a bar, restaurant, retail establishment, or even professional practice with a waiting area—you probably have music playing at least sometimes. Maybe you have a radio that plays a particular local station for background music, or perhaps you use a streaming service […]

3 Things You Should Remember When Terminating an Employee

If you are like most employers, firing an employee is an experience you would like to avoid at all costs. Termination can be challenging not only on a personal level but on a professional level as well. If the proper steps are not taken to justify an employee’s termination, he or she could potentially bring […]

Preventing Sexual Harassment Is Crucial Even When Employees Are Working From Home

If you are a business owner, employee concerns may take up a great deal of your time. One employee issue that has made many headlines in the past several years is sexual harassment. Sexual harassment is a type of employment discrimination protected by Title VII of the Civil Rights Act of 1964. If an employee […]

Why Is Due Diligence Important When Deciding to Become a Franchise Owner?

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 […]

3 Tips for Writing a High-Quality Business Plan

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 […]

Should I Offer My Sales Staff Salary or Incentive-Based Pay?

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 […]