Contract breaches can be very expensive for businesses. Company leaders may need to find a different vendor or service provider with limited notice. They may be unable to offer certain goods and services as they usually do. They might unintentionally breach a contract with an outside party because ...
You initially started your business with a partner. The two of you, working together, were able to find a significant level of success....
If you have one or more business partners, then it is unlikely that you will agree with them on everything. Occasional disagreements are par for the course, and the ability to see things differently can help drive the company forward....
Contract disputes are a frustrating reality of running a business. Even with clear terms, misunderstandings can happen....
When business owners in Illinois disagree about their company’s worth, they often turn to the courts for answers. The state has seen more valuation disputes in recent years, especially during business sales, mergers and divorces where a business is part of marital assets....
Building a thriving business takes time, dedication and unwavering commitment. Still, others may attempt to undermine your efforts and capitalize on your success through unfair or illegal means. Understanding when to issue a cease and desist letter is crucial in protecting your hard work....
Sports-adjacent businesses near Wrigley Field and United Center face unique partnership challenges. These ventures need teamwork off the field as much as on it to tackle game-day rushes and seasonal changes....
Managing a business has always been a high-stakes job. So, when conflicts threaten to undermine everything you have built, your knee-jerk reaction might be to gear up for a legal battle. Still, mediation can resolve the situation and maintain your business relationships....
As a business owner, unless you have been involved in a lawsuit before, you likely are not an expert in lawsuits. And, if you are involved in a lawsuit, the entire process likely feels like a blackhole....
Alternative dispute resolution, or ADR, has grown in popularity in recent decades for many reasons....
The terms of service that you implement onto your website can play a key role in protecting your business. These terms serve as a contract between your business and its website’s end user, often restricting how those users can use the material that they access....
As you start your partnership, you might think that you have everything in order and that it’s smooth sailing ahead. But many partnerships face challenges over time, with some of the more serious partnership disputes threatening the viability of the business’s success and continuation. It’s a scary ...
It can be exciting to start a new construction project, but unfortunately disputes can arise along the way. Fortunately, however, there are ways to resolve them and continue with the work....
A partnership can be a great structure for your business, as it can maximize your income, reduce your tax liabilities, and help you retain control of business decisions. Yet, many partners in a business end up facing disagreements at one point or another. Often, these disputes are resolved with noth...
In Illinois, alternative dispute resolution (ADR) methods may be used to resolve business disputes outside of a traditional court process. ADR can provide parties with more flexibility and control over the resolution process and it can be faster and less expensive than going to court....
Eminent domain is a legal concept that most business leaders in Illinois probably never anticipate encountering. It is a concept that comes into play for decision-makers when property or property rights are being taken – or “condemned” – by a government or other qualified entity for a public purpose...
When business owners hear the word receiver (or receivership), they think of bankruptcy. However, what many business owners learn all too late during Chicago, Illinois, business litigation is that many lawsuits can include a motion for receivership....
As a business owner, you make contracts every day. Every time you buy or sell something, you likely made a contract, even if nothing was written down....
Tesla CEO and newly established Twitter CEO Elon Musk is facing shareholder legal challenges regarding a pay package he was granted by Tesla amounting to more than $55 billion....
It is not unusual for your business to have a dispute with an employee, vendor or another business. Before resorting to litigation to resolve the issue you may want to consider two forms of alternative dispute resolution: mediation and arbitration....
Differences of opinion crop up frequently in a professional setting, not only within an organization but also between entities that stand to benefit from a future transactional relationship. Whether over a contract, employment, or shareholder issue, or in a real estate or regulatory compliance matte...
A breach of contract in a business setting can be devastating for both parties, leaving the merchant without necessary inventory while also leaving the supplier in a poor position if they failed to deliver goods in a timely fashion. If another party has failed to fulfill its obligations pursuant to ...
Business, particularly restaurants and other service industries, are changing commerce in this country by using artificial intelligence and other technology. But new technology comes with fresh problems such as business litigation. A customer at an Illinois McDonald’s filed a lawsuit against the cha...
Running a business in Chicago can be stressful and complex. Business owners and leaders must deal with a vast array of problems and situations on a daily basis. When conflicts arise and business operations are threatened, they may seek methods of resolution that are efficient, decisive, and comprehe...
Many Chicago residents do business with one or more partners. In many cases, the business partners will formally organize into a business association like a limited partnership or a limited liability partnership. Whether formally organized or not, partnerships share many characteristics, as partners...
Business laws are constantly changing as laws change and court cases interpreting new and old laws happen monthly. One such example of the changing nature of the legal landscape that businesses must endure is a recent bill that allows litigants to collect pretrial interest on civil damages....
Contracts are powerful legal documents. They put into terms the agreements that parties make regarding diverse professional relationships such as employment, sales of goods, and attainment of services. When Chicago-area businesses take their business contracts seriously, they protect themselves from...
Due diligence is a process involved in any large purchase to ensure that the potential rewards justify the risks involved. It is at least as important when making a commercial acquisition as it is when making a large personal purchase, perhaps even more so....
When you first became a business owner, the farthest thing on your mind was laying off or otherwise terminating employees. You expect to offer a severance package for the first time in the days to come, and you want to cover all your legal bases and do right by your workers....
The confidentiality agreements (often referred to as nondisclosure agreements or NDAs) that you have employees sign need to hold up in court, if challenged. Otherwise, they are basically worthless. That’s why do-it-yourself agreements like those you can download from websites aren’t a go...
If you run an online publication, you know that your content will be available worldwide. This can result in issues outside of the United States. This issues often affect big, lucrative companies; however, even small organizations should understand foreign legal threats and how to deal with them....
Chicago business owners may do everything they can to operate their entities with honesty and integrity. Many people put their whole lives into the companies that they create, and they are not willing to sacrifice their good names to get ahead because of cheating or deceit. Unfortunately, though, go...
Building a business from the ground up can be a labor of love for a Chicago resident. Though they may take on many of the initial duties of running their entity on their own, over time an individual may associate with others to grow their business and support its success. As individuals become assoc...
Fraudulent misrepresentation is a serious matter that can cost businesses time, money and other valuable resources. When Illinois businesses suffer harm as a result of fraud in their business dealings, they may have remedies to recoup their losses and cut ties with the entities that caused them harm...
Agreements included in contracts are what make the business world work but sometimes those agreements do not work out and disputes arise. It is important to understand how to address a contract dispute....
Businesses in Illinois and elsewhere enter into agreements with hopes to benefit them. Whether it is a simple business agreement or a major business deal, the terms of this business contract are essential. If a party to the agreement does not adhere to these terms, then issues could arise. In some c...
When a business relationship is formed, many ups and downs could occur. Although a contract between the parties involved memorializes this relationship and the agreements they have, this does not mean no issues will be present. This is especially true if one party to the agreement is not holding up ...
When your business faces a dispute, the thought of the time, cost and resources to be spent on finding a resolution can be daunting. Whether due to a breach of contract, disagreement among partners or shareholders or more, a commercial dispute may benefit from a resolution decided on outside of trad...
When owning or operating a business, there are many responsibilities. Whether it is a large or small company, business owners in Illinois and elsewhere make many important business decisions throughout the year....
When it comes to business matters, transactions are frequently completed. While these are common occurrences, there are necessary components for these transactions to be properly executed. In many cases, this means drafting and entering into a business contract. Although these can have a routine fee...
It’s inevitable that businesses hit bumps in the road. Matters get more complicated when two or more parties are involved. If an argument ensues and no agreement is made, businesses need to look at other legal options. There are various ways to resolve business disputes. However, each case is ...
When companies do business, this transaction is memorialized in writing. An agreement has certain terms, and these terms must be followed by the parties to the agreement. Failure to do so could be considered a breach of contract. Such a situation does not only harm the agreement, essentially invalid...
Whether it’s a publicly or privately held company, not-for-profit or a public sector entity, business law issues tend to come up. These might be the typical routine business decisions; however, others can become more complex. A contract could be disputes, a fiduciary duty is breached or there ...
When owning, operating or managing a business, it is important to take steps to protect it. This goes beyond taking care of all the necessary documents and filing. It means ensuring that trustworthy employees are hired and, if they do leave the company, the secrets of the business are kept protected...
Whether you just started a business or you have owned or managed a business for years, the longevity and success of the company is always in the forefront of your mind. One way to ensure your business is protected is by taking proper steps to ensure no harm can come to it. By anticipating situations...
When a business is first starting out, it can take some effort to bring business in. Overtime, business will grow, helping the company progress and make profits. However, a company might reach a plateau, causing some businesses to attempt to rebrand or market themselves differently. While this is an...
The U.S. Justice Department is investigating the ride-sharing company Uber for possible industrial espionage resulting in the possible theft of trade secrets from its rivals. The allegations triggered a delay in the high-profile trial in which it is accused of stealing autonomous car technology from...
