Tag: small business
How Can You Manage Family Conflicts in Business Succession Planning?
Posted on September 12, 2025
Family-owned businesses are at the heart of Illinois’s economy. From small professional firms in Naperville to large family enterprises in DuPage County, these businesses often represent decades of hard work, sacrifice, and wealth-building. But one of the hardest challenges a family business faces is planning for leadership and ownership when the current generation steps aside. Business succession planning is not only about transferring shares and titles. It is also about navigating family relationships, addressing competing expectations, and preserving harmony while protecting the business itself. Without careful planning, family conflicts can […]
How Do Clear Business Contracts Protect Your Company?
Posted on July 26, 2025
Running a successful business involves more than offering a great product or service. It also requires careful attention to the legal agreements that govern your relationships with employees, vendors, customers, and partners. Clear and well-drafted contracts are essential tools for protecting your company from disputes, misunderstandings, and financial loss. Our Naperville, IL business contracts attorney can help you draft and negotiate clear, fair contracts that benefit you now and into the future. Why Are Business Contracts So Important? Every business relationship is built on expectations. Contracts put those expectations in […]
Are There Legal Solutions for Disputes Between Franchisors and Franchisees?
Posted on July 10, 2025
Franchise relationships offer business owners in Illinois the advantage of building on an established brand and system. However, these relationships are also governed by complex contracts that can become a source of intense and expensive conflict. When disputes like breach of contract allegations arise between franchisors and franchisees, they can threaten the stability of the business and even lead to litigation. If you are involved in a franchise dispute, understanding the legal options for resolving the issues you face is essential for protecting your investment and your rights. At Gierach […]
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 […]
Worker Misclassification: How a Seemingly Simple Mistake Can Cost Your Business Dearly
Posted on December 9, 2024
One of the critical tasks you will face as a business owner is ensuring that you properly classify your workers as either employees or independent contractors. There is a significant legal difference between your responsibilities if you employ an independent contractor versus an employee. Additionally, misclassifying a worker can result in legal issues. Even a seemingly minor mistake can result in massive fines and penalties for worker misclassification. If you own or manage a small or medium-sized business, an experienced attorney can ensure that you understand and comply with essential […]
Which Business Structure is Right for Me? | IL
Posted on August 31, 2024
Becoming a new business owner can be exhilarating, exhausting, and full of stress and anxiety, all at the same time. Many new business owners fail to put in the necessary amount of thought and research into these early business decisions, only to be forced to make changes down the line. Business formation is a crucial aspect that can determine the success or failure of your business. Excitement about a new business is natural, but to ensure success, the decisions you make now must be just as valid years from now. […]
How Can You Recruit and Retain Gen Z Workers?
Posted on August 17, 2024
A recent social media post showed a twenty-something young woman talking about how her employer should recognize her “disability” of “time blindness.” She went on to say that her lifestyle and internal time clock did not mesh with being at work at 7:00 a.m. Watching this at work in a mixed group of all ages, the reactions were notably different between those groups. At least a few of the baby boomers in the group rolled their eyes. Those in the Gen X age group mostly shrugged their shoulders. While a […]
How Can Business Owners Negotiate Favorable Loan Agreements?
Posted on June 26, 2024
Obtaining loans can be pivotal for business owners in a variety of situations. However, negotiating favorable loan agreements is crucial in these situations to ensure that the terms of a loan will benefit a business in the long run. An experienced attorney can help business owners in DuPage County and the surrounding areas navigate the complexities of loan agreements, protecting their rights and interests throughout the process. Why Do Businesses Need Loans? Businesses may seek loans for a variety of reasons, including: Key Terms in Loan Agreements It is crucial […]
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