Tag: business law

5 Types of Damages That May Be Awarded for a Breach of Contract

Posted on September 26, 2023

A contract is a legally binding agreement between two or more parties. When one party does not meet all of their obligations as specified in the agreement, this is considered a breach of contract. These breaches can range from minor infractions to serious violations. Disputes over alleged contract breaches may lead to litigation, and the parties may need to settle these issues in court. If a breach of contract has occurred, the injured party may be entitled to damages, or monetary payments made by the party who committed the breach. […]

Posted in Business Law

Are There Legal Requirements for Employee Handbooks in Illinois?

Posted on September 19, 2023

An employee handbook is an important tool that an employer can use to communicate policies and expectations to employees. It provides a clear guide on various workplace matters such as employment terms, conduct standards, leave policies, and disciplinary procedures. While there are no specific legal requirements for employee handbooks in Illinois, it is highly recommended that an employer create a handbook to protect themselves and inform employees of their rights and responsibilities. Employers may also need to determine how to address issues related to employment contracts and create terms that […]

Posted in Business Law

How Can Zoning Laws Affect Commercial Real Estate Development?

Posted on September 13, 2023

Zoning and land use laws play a crucial role in shaping the development of commercial real estate projects. These regulations establish the specific permitted uses, density, and building requirements for different areas within a jurisdiction. Understanding how zoning laws can impact commercial real estate development is vital for developers, investors, and property owners. An attorney who understands the issues that affect commercial real estate can provide invaluable guidance in these situations, ensuring that a development project will be able to avoid unforeseen delays or other legal and financial concerns. The […]

Posted in Business Law

Legal Requirements That Apply When Hiring Employees in Illinois

Posted on September 5, 2023

If you own a business in Illinois and are planning to hire employees, it is crucial to understand the legal requirements that will apply to you. From minimum wage laws to workers’ compensation and unemployment insurance, there are several regulations employers must comply with when hiring new staff members. By working with an attorney who has experience in business law, you can make sure you meet all legal requirements, and you can avoid potential disputes or penalties that could affect your business. Illinois-Specific Employment Laws Illinois has several employment laws […]

Posted in 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

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