Tag: Naperville business law attorney

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

Worker Misclassification: How a Seemingly Simple Mistake Can Cost Your Business Dearly

Posted on May 9, 2023

naperville business lawyer

Understaffing and other employee-related issues have been a major concern for many small and medium-sized businesses in recent years. Many employers have had to make significant changes to their workforces, including outsourcing responsibilities to third parties, expanding remote work, and relying more heavily on independent contractors. If you own or manage a small or medium-sized business, understanding and complying with state and federal employment laws is essential. Even a seemingly minor mistake can result in massive fines and penalties for worker misclassification. Independent Contractors Versus Employees Many businesses work with […]

Posted in Business Law

Patent Trolls: What Are They and How Can They Harm Your Business?

Posted on May 8, 2023

naperville business law attorney

Patents allow inventors and entrepreneurs to prevent other companies from manufacturing, selling, or using their patented inventions for a set period of time. Governments grant these rights in exchange for detailed public disclosure of the innovation. A patent is essentially a temporary monopoly granted to a business or individual that allows them to profit from their unique innovations. When used correctly, patents encourage innovation by rewarding creativity and novelty while simultaneously fending off intellectual theft. However, the U.S. patent system is not infallible, and it can be abused. Businesses have […]

Posted in Business Law

Should I Use a Non-Disclosure Agreement When Selling My Business?

Posted on April 28, 2023

naperville business lawyer

If you are planning to sell your business, you will need to discuss detailed information about your business operations, financials, and other sensitive information with prospective buyers. Understandably, this can make some business owners a little nervous. After all, confidential information that gets into the wrong hands can be used against you and your business, essentially undoing your years of hard work. A non-disclosure agreement or confidentiality agreement is a legal contract used to prohibit parties from sharing certain information. An NDA can be a very useful tool during the […]

Posted in Business Law

Burnout is a Serious Problem for Business Owners: Here is How to Combat it

Posted on April 20, 2023

naperville business owner

To say that the last few years have been difficult for business owners is to put it very lightly. Business owners have had to contest with record inflation, supply chain issues, worker shortages, and ever-changing customer needs. It comes as no surprise then that a significant number of small business owners are suffering from burnout. One national survey found that just under half of business owners have experienced burnout in the last month. Burnout refers to a general feeling of exhaustion caused by chronic work-related stress. It often leads to […]

Posted in Business Law

What Illinois Business Owners Need to Know About Personal Injury Liability

Posted on April 13, 2023

For business owners, the responsibilities are never-ending. There are so many things to think about that some tasks get put on the back burner. You may currently be focusing on sales, customer satisfaction, marketing, or streamlining your business practices. However, you may not give much thought to the possibility of somebody being injured on your property. Although it is often seen as a lesser priority, it is crucial for business owners to reduce personal injury liability as much as possible. The best way to do this is to take proactive […]

Posted in Business Law

How to Use Artificial Intelligence to Benefit Your Small or Medium-Sized Business

Posted on April 4, 2023

Artificial intelligence has been around – at least in some capacity – for quite some time. However, it is only recently that AI services such as ChatGPT have gone viral. Opinions about artificial intelligence and what the technology means for society vary significantly. Some people think that the rapidly growing capabilities of AI technology are something to fear. Others see AI as an opportunity for innovation, advancement, and creativity. One thing is certain: AI is here, and it is likely here to stay. As a business owner, it is imperative […]

Posted in Business Law

Why You Need a Business Attorney for Your Small or Medium Business 

Posted on March 28, 2023

naperville business law attorney

Being a small or medium-sized business owner can sometimes feel like a David and Goliath situation. Inflation, supply chain interruptions, staffing problems, cyberattacks… the list goes on and on. The challenges, difficulties, and frustrations faced by business owners on a daily basis are too great to count.  With so many concerns to juggle at once, many business owners neglect legal concerns such as compliance with regulations and laws, protecting intellectual property rights, licensing issues, and employment law concerns. This is where a business attorney can be invaluable. A business attorney […]

Posted in Business Law

Common Reasons that Businesses Fail

Posted on March 23, 2023

naperville business lawyer

Most entrepreneurs and small business owners are well aware of the grim statistics surrounding business failure. A fifth of new businesses close their doors within a year and only half of small businesses survive past their fifth year. However, the news is not all bad. There are many ways to combat these odds and increase the chances of long-term success for your business. By taking a proactive approach to the challenges of business ownership, you can give your business a fighting chance.  Inadequate and Ineffective Business Planning The saying “failing […]

Posted in Business Law

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