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 time and resources. Ownership value and income are scrutinized, and unless the situation is addressed in your business governance documents, the business may have to be sold, or ownership changed. READ MORE.

Real Estate Broker Charges.  Settlement of a recent litigation disrupted the real estate broker business, causing brokers to abandon the custom of standard broker fee splitting. Now both buyer and seller have to commit to pay a broker commission and contract negotiations will include shifting all or some of the buyer’s broker commission obligation to the seller. READ MORE.

Employee Handbook Disclaimers.  While an Employee Handbook can be a useful management tool, it should have appropriate disclaimers to ensure your handbook does not eliminate your employment at will protection or create a basis for new claims by employees. READ MORE

This Business Byte is designed to provide our friends and clients with information regarding the various subject matters covered, it is not designed to take place of legal, accounting, or other professional advice. If expert assistance is required, the services of a competent professional should be sought. This may constitute advertising under the rules regulating Illinois attorneys.