Tag: Naperville business lawyers

Retirement Plans Are Becoming Mandatory. Does Your Business Have a Good One in Place?

Posted on September 27, 2022

naperville business lawyer

Illinois now requires employers with at least five employees to offer a retirement program of some kind. For businesses with 16 to 24 employees, the deadline for establishing a retirement plan is November 1, 2022. For businesses with 5 to 15 employees, the deadline is November 1, 2023. Regardless of your business’s size, retirement benefits are crucial. Individuals of all ages are increasingly concerned about retirement and many fear the end of social security. Workers want competitive retirement plans with a high match rate. If you want your company to […]

Posted in Business Law

Can You Access The Bank Accounts Of Deceased Family Members?

Posted on September 15, 2022

naperville estate planning lawyer

If your family member passes away but has no legal documents explaining who should receive what assets and only had their own name on the bank accounts, what happens to the funds in the accounts? What legal action can you take at this point? Questions like these are vital to consider. When an individual does not have any estate planning documents in place or have other individuals on their bank accounts, surviving family may be left with many more questions than answers. This is why it is so important for […]

Posted in Business Law

Would Your Business Get Top Dollar in a Sale? 

Posted on August 30, 2022

naperville business lawyer

Would you like to get top dollar for your business when you eventually sell it? If so, you will need to start preparing now. It usually takes about five years to get a business ready for sale, so the sooner you start, the better. Many business owners fail to think about how to increase the business’s value before putting it on the market. This mistake can cost you dearly. Whether you plan to sell soon or you are simply readying your business for a possible sale in the future, it […]

Posted in Business Law

Helping Employees Pay Student Loans Is a New Incentive to Attract and Keep Top Talent

Posted on August 9, 2022

The cost of a college education has skyrocketed in the last few decades. About half of all college students graduate with debt, and the average amount owed is just under $30,000. Many employers recognize the massive financial burden their employees with student loans are currently facing. Simultaneously, employers across the country are struggling to attract and keep high-quality workers. In response to these concerns, more and more employers are offering various types of student loan relief to employees. The CARES Act has paved the way for employers to offer student […]

Posted in Business Law

Is Your Anti-Discrimination & Cultural Training Up to Today’s Standards? 

Posted on August 2, 2022

naperville business lawyer

The United States is often referred to as a “melting pot.” Few other countries are as diverse as the U.S., and many small and medium-sized businesses reflect this.  Companies with employees of varied backgrounds, cultures, genders, and ethnicities benefit from workers’ unique life experiences and perspectives. Originality, creativity, and outside-the-box thinking are just some of the advantages associated with a diverse workforce. Businesses staffed with employees of differing life experiences are also less likely to get caught up in groupthink which leads to suboptimal business practices and stagnation. Unfortunately, discrimination […]

Posted in Business Law

Coping With Inflation During Already-Challenging Times

Posted on July 5, 2022

naperville business lawyer

In May 2022, consumer prices in the United States rose 8.6 percent – the fastest rate in over 40 years. Inflation has touched nearly every aspect of Americans’ lives, and few have felt the effects more powerfully than business owners. A study conducted by the National Federation of Independent Business found that 33 percent of business owners cite inflation as their number one business concern. When combined with labor shortages, supply chain issues, and other concerns, it is no surprise that many businesses are struggling. Small and medium-sized businesses are […]

Posted in Business Law

How to Be the Boss You Always Wished You Had in a Swiftly Changing Work Landscape  

Posted on June 23, 2022

naperville business lawyer

The workplace dynamic has shifted dramatically in the last few years. More and more employees are leaving their jobs for positions they feel better fit their personal needs and professional goals. The so-called “Great Resignation” has left many employers short-staffed and unsure how to proceed. Simultaneously, many companies are developing long-term work-from-home and remote work policies. Workers and managers have been forced to reevaluate their methodologies and adapt to rapidly changing circumstances. As younger employees grow in their careers and become leaders, they are forced to contend with some of […]

Posted in Business Law

A Helpful Option For Small and Mid-size Businesses

Posted on June 16, 2022

naperville business lawyer

There is no doubt that many small and medium-sized businesses are currently struggling. In addition to typical business concerns like compliance issues and customer service, businesses must also contend with skyrocketing costs and labor shortages. Large companies have in-house legal counsel who are dedicated to addressing the company’s legal needs. However, small and medium-sized businesses typically cannot afford to have a full-time lawyer on their team. These smaller businesses often try to handle legal matters on their own or hire an attorney ad hoc after they have gotten into legal […]

Posted in Business Law

How Do You Protect Yourself in a Business Partnership?

Posted on June 14, 2022

naperville business lawyer

An old saying claims that two heads are better than one. In the context of business partnerships, this is often true. Partnering with another individual can help you divide business responsibilities, increase capital, attract investors, and grow your company. Partners can bring fresh ideas and a wealth of knowledge and experience to the table. There are many advantages to going into business with other people. However, there are also challenges and risks associated with business partnerships. If you are interested in forming a general partnership, limited partnership (LP), or limited […]

Posted in Business Law

Keeping Employment Matters Under Control 

Posted on April 12, 2022

naperville business lawyer

Businesses across the country are dealing with staffing issues during these unprecedented times. As a business owner, having proper documentation can prevent many different issues with staff. Providing your staff with clear job descriptions, goals, employment conditions, reviews, handbooks, and other employment materials helps them understand their responsibilities. Ultimately, proper documentation helps grow your business.  Furthermore, having things in order and properly documented can make transitions easier and help you avoid lawsuits down the road. Business owners and partners often find that having an outsourced general counsel can help address […]

Posted in Business Law

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