Tag: Naperville business lawyers
How Do Capital Gains Taxes Affect the Sale of a Business in Illinois?
Posted on May 12, 2025
The prospect of selling your business can be exciting, providing the opportunity to capitalize on your hard-earned work. It may be that you are selling your business to retire, or to start another venture. Whatever the reason, many factors impact the decision to sell a business, and the details of the transaction. One key factor that affects the sale of a business is taxation. Capital gains taxes can eat up the proceeds of the sale if you do not put in place careful strategies to mitigate taxation. In fact, when […]
When Should You Restructure or Reorganize Your Business?
Posted on April 30, 2025
Business needs can change. Growing businesses will also find that with success and increased revenue come challenges that may require a different way of doing things. Organizational structures may no longer work for the company. The market strategy may not match the current market needs. The company might experience financial difficulties. Conversely, things may be going very well now, but there may be concerns about the long-term business outlook. In short, there are many reasons why a company can benefit from a business restructuring. But one thing is for certain, […]
7 Employment Law Mistakes High-Growth Companies Make
Posted on April 15, 2025
While growth is a great sign business owners and investors are eager to see, it can bring about its own set of challenges. These are the growing pains businesses can experience. Things move quickly when a company is growing. That expansion often requires quick decision-making and implementation of processes aimed at keeping the business functioning at its best. However, when business owners are occupied managing the day-to-day responsibilities, other important aspects sometimes slip through the cracks. Indeed, as things change quickly at high-growth companies, compliance with legal requirements becomes that […]
What Are Recent Developments In Illinois Non-Compete Law?
Posted on October 29, 2024
In recent years, the law on noncompete agreements has shifted considerably nationwide, and Illinois is no exception. This is primarily the effect of a recent rule issued by the Federal Trade Commission (FTC), the federal agency that enforces antitrust law and promotes consumer protection. This rule was struck down by a federal court before it took effect. However, Illinois legislation enacted in the last few years already limits the ability of employers to put in place and enforce non-compete clauses in their employment agreements. An experienced Illinois employment law attorney […]
What Are the Legal Rights of Employees for Social Media?
Posted on August 26, 2024
Most Americans are active on at least one social media platform. We are a connected society, particularly since smartphones have placed these platforms front and center. Since engagement with social media is generally seen as leisure rather than work, the debate about whether social media is appropriate workplace behavior marches on. Equally important are the business law issues pertaining to whether employees should be allowed to use social media in the workplace. Whether or not to allow social media use in the workplace is not a simple issue. The productivity, […]
When Should an Illinois Business Partnership Agreement Be Updated?
Posted on April 10, 2024
The creation of a business partnership requires careful planning and consideration. A well-drafted partnership agreement is crucial for the smooth operation of a business involving two or more partners. This agreement outlines the responsibilities of partners, profit-sharing ratios, and other essential terms. However, as a business evolves, so do its needs and circumstances, making it imperative to revisit and update the partnership agreement periodically. An attorney with experience drafting, negotiating, and executing partnership agreements and other types of contracts can provide guidance on the best ways to keep critical documents […]
Sustainability in Real Estate Development: Benefits and Best Practices
Posted on March 20, 2024
For real estate developers, sustainability is no longer a luxury or an afterthought; it is a necessity. With increasing awareness of environmental issues and the impact of construction and development projects on our planet, commercial real estate developers are turning towards sustainable practices to create eco-friendly, energy-efficient, and socially responsible properties. By understanding the myriad benefits of sustainable real estate development and the best practices that can be followed to ensure projects meet sustainability standards, developers can achieve these goals. An experienced attorney can provide guidance and address the legal […]
8 Steps to Follow When Selling a Business
Posted on February 5, 2024
Selling a business is a complex, multi-step process that requires careful planning and execution. Whether you are retiring, looking for new opportunities, or experiencing financial difficulties, selling your business can be a significant decision that will have an impact on your future. To ensure a smooth and successful transaction, it is crucial to follow the proper steps when selling your business. An attorney with experience representing clients in business transactions can help ensure that you follow all of the correct procedures while working to protect your financial interests. Step 1: […]
5 Reasons Why Business Partner Disputes Can Lead to Litigation
Posted on December 28, 2023
When starting a business, one of the first major decisions made involves choosing a partner. A business partnership can provide many benefits, such as shared responsibilities and resources, complementary skills, and increased credibility. The nature of a partnership may determine how a business will be structured, and the choice of the right type of business entity can help partners manage and operate the business successfully. However, even the most promising partnerships can sometimes go sour. Business partner disputes can arise for various reasons, and they have the potential to significantly […]
How Can Business Owners Protect Against Employee Discrimination?
Posted on November 29, 2023
Discrimination in the workplace is a serious issue that can have significant legal and financial consequences for businesses. As an employer, it is your responsibility to create a safe and inclusive work environment where all employees are treated fairly and equally. To ensure that you are putting the correct policies in place that will protect you and your employees, you can work with an attorney who has experience in business law and employment law. Educate Yourself and Your Employees The first step in preventing employee discrimination is to educate yourself […]
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