Tag: business law

Common Reasons Businesses Are Sued, and What to Watch Out for in Your Business

Posted on March 20, 2023

naperville business lawyer

For business owners, the threat of a lawsuit is always present to some degree. Even the most responsible business owner may not entirely avoid the risk of being sued. However, there are many steps business owners can take to reduce their risk of being sued successfully. For many businesses, making a few simple adjustments to their business operations, contracts, or insurance coverage can lower the risk of a lawsuit dramatically. If you own or manage a business, make sure you understand the most common reasons that companies get sued and […]

Posted in Business Law

The Why’s and How’s of Succession Planning 

Posted on March 16, 2023

naperville buisness law attorney

As a business owner, it can be hard to think about a time when you are no longer involved in the business. After all, you have probably spent countless long hours developing your business and making it the success that it is. However, it is crucial for every business owner to consider what will happen to the business if they retire, sell the business, become incapacitated, or pass away. Having a succession plan in place is essential for preparing your business to transition smoothly after you move on. Planning for […]

Posted in Business Law

Do You Have an Exit Strategy? 

Posted on February 22, 2023

naperville business law attorney

Whether your business is brand new or you are celebrating a milestone anniversary – every business owner should have an exit strategy. Succession planning is crucial for businesses of every size. However, this is a task that many people put on the back burner. Working on an exit strategy well in advance of a planned exit is one of the best ways to reduce disruptions to your business when you or other key players do leave the company. It can also help ensure that the business is best prepared to […]

Posted in Business Law

Why You Need to Share Your Company Vision

Posted on February 16, 2023

naperville business lawyer

When an entrepreneur starts or purchases a business, he or she is usually full of ambition. The owner has a specific vision for the company, including what the business will achieve and how it will operate. However, over the years, many business owners get caught up in the everyday responsibilities of running the company. They start to forget why they got into business in the first place, and their lofty goals become a distant memory. Whether you are a long-time business owner or just starting out, it is important to […]

Posted in Business Law

How to Stay on Top of Changing Laws as a Business Owner

Posted on February 10, 2023

naperville business law attorney

As a business owner, staying on top of changing laws can be a challenge. With new regulations and legal issues popping up all the time, it is important to ensure your business is compliant and protected from potential lawsuits, regulatory issues, or other legal problems. Failure to keep up with changing laws can result in hefty fines, reputational damage, and other serious consequences that can be costly for your business. The good news is that there are steps you can take to help protect your business from these pitfalls. Keeping […]

Posted in Business Law

How to Dissolve a Business Partnership in Illinois

Posted on January 19, 2023

naperville business law attorney

Business partnerships consisting of two or more individuals or entities are a great way to access a wider range of knowledge, increase profits, and expand market reach. However, there may come a time when the partnership ends. Whatever the reason for the termination of the partnership, dissolving a business partnership in Illinois can be challenging. However, with proper planning and execution, it can be done relatively quickly and efficiently. What to Do If You Want to End Your Business Partnership When a partnership is no longer serving the best interests […]

Posted in Business Law

Does Your Business Require A Physical Address? 

Posted on January 12, 2023

naperville business lawyers

Our world is becoming increasingly digitalized, and the pandemic has only accelerated this trend. Businesses now have the opportunity to operate virtually, without the need for a physical address. Many entrepreneurs and business owners wonder whether a storefront is needed for a successful business. Can a business operate with a PO box or virtual address? Can a small business use a home address as a business address? Does lacking a physical address have any legal implications? These are important questions, and anyone interested in starting a business should take the […]

Posted in Business Law

Prioritize your Business Goals for The New Year

Posted on January 5, 2023

When planning for the New Year, small and mid-sized businesses should carefully consider their strategies for 2023 in order to ensure they are prioritizing their goals effectively. It is important to keep an eye on trends that may affect the industry, including advances in technology, shifts in customer preferences and demands, and changes to regulations or policies. Businesses should also take into account their current resources and budget, as well as any changes in the market that may impact their operations. Additionally, it is important to assess the business’s performance […]

Posted in Business Law

Is Your Business Prepared for the New Year? 

Posted on December 15, 2022

naperville business lawyer

For business owners and leaders, the new year represents an opportunity to evaluate successes and failures in the past year and make plans to improve operations in the coming months. Year-end business reviews help a company celebrate wins and reflect on losses. By analyzing current performance, business owners can determine areas of strength, as well as potential improvements that need to be made. It can also help when setting goals for growth and profitability in the new year. Having a clear plan for the upcoming year is important to ensure […]

Posted in Business Law

Outsourced General Counsel for Small Business Owners

Posted on December 8, 2022

naperville business law attorney

If you are a business owner or business leader, an investment worth making is a relationship with a skilled outsourced general counsel (OGC). Many businesses neglect this critical step and only contact a lawyer once they are already facing legal issues. Unfortunately, the damage to the company’s reputation and bottom line is often already done by the time a business contacts an attorney. Building a relationship with an OGC before a legal issue arises can help you prevent legal problems such as contract disputes,  intellectual property infringement, and other costly […]

Posted in Business Law

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