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November Business Bytes

November Business Bytes

This month’s Business Bytes highlights divorce proof businesses, real estate broker charges, and employee handbook disclaimers.  Divorce Proof Business.  Your or your partner’s divorce can wreak havoc on your business and not only from the necessary diversion of...
Disposition of Remains

Disposition of Remains

The Illinois Disposition of Remains Act, 755 ILCS 65/5 et seq., provides a priority among heirs for control of the disposition of loved one’s remains. It applies when the decedent did not provide direction by the Appointment of Agent to Control Disposition of Remains...
Business Interruption Claims

Business Interruption Claims

Hurricanes, floods, and other extreme weather conditions can cause substantial damage to businesses and their property. If you had property damage and business interruption insurance for such situations, both usually sold in commercial insurance policies, you still...
October Business Bytes

October Business Bytes

This month’s Business Bytes highlights corporate valuations, Special Needs Trusts, and sending notice to your insurance carrier. Corporate Valuations. If your business owners have a buy/sell agreement in the event a party wishes to leave that requires annual or...
Business Disaster Insurance

Business Disaster Insurance

All business owners should be prepared for a disaster, whether it’s physical, economic, legal, or personal. Besides preparing a disaster action plan, many businesses also acquire various insurance policies to address the harm a natural or other disaster can cause a...
September Business Bytes

September Business Bytes

This month’s Business Bytes highlights trade secret litigation, Wage Payment and Collection Act, and controlling shareholders. Trade Secret Litigation.  The rise in the value of business’ trade secrets, confidential, and proprietary information that is not...
Social Media Legal Traps

Social Media Legal Traps

Social media has been a boon for many businesses, but businesses must use it with caution. Some of the legal traps of social media include: Not treating your company’s social media posts as marketing subject to advertising laws. Overlooking sweepstakes and other laws...
August Business Bytes

August Business Bytes

This month’s Business Bytes highlights small business disputes, the public domain, and stay or pay provisions in employee agreements. Small Business Disputes.  Disputes between owners of a small business are fraught with potential conflicts. As a result, the...
New Partners, New Problems

New Partners, New Problems

Introducing new business partners to add talent, increase sales, or enhance finances is often a good idea, but with new partners come new risks to your business. To minimize those risks: Evaluate how they will enhance your business. Conduct due diligence on new...
Family Gifting

Family Gifting

Family gifts come in many forms and are made for various reasons. If they are of substantial value, care should be taken to avoid regrets or problems thereafter. Major gifting should also be considered in light of future life care and estate plans. Some of the issues...

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