Business Information
New Corporate Transparency Law
The Corporate Transparency Act requires all existing “business entities” and “beneficial owners” to file a Beneficial Ownership Information Report with the U.S. Treasury’s Financial Crimes Enforcement Network’s (FinCEN) Beneficial Ownership Secure System (“BOSS”) on...
February Business Bytes
This month’s Business Bytes highlights employment guide, temporary worker protections and employee retirement savings. Employment Guide. Employment laws, rules and regulations are at best confusing and often conflicting. It is also difficult to find a...
New Illinois Business Laws
With over 300 new laws taking effect January 1, 2024, some that could have a substantial impact on your business include: The Federal Corporate Transparency Act requires a business to file with the Financial Crimes Enforcement Network. New criminal penalties for...
Workplace Investigations
In conducting workplace investigations of personnel situations or other events, employers or those hired to conduct the investigation walk a tightrope to avoid causing more problems and creating potential liability. With “at will” employees, those without a contract...
Requesting Genetic/Medical History Information
The Illinois Genetic Information Privacy Act of 1998 410 ILCS 513/25(c)(1) (GIPA) prohibits inquiries into a person’s family medical history and obtaining genetic information. Like the federal Genetic Information Non-Discrimination Act of 2008 (GINA) that regulates...
Inventory/Product Loss
Insurance trade groups report an increasing number of loss claims arising from inventory and product loss – often employee theft. As these losses increase premiums increases will follow. Be sure that any steps taken to prevent such losses are legal, defensible,...
Avoiding the Traps of a Family Business
Almost every parent’s dream is to create a family business that will be a legacy to and source of wealth for his or her heirs. However, almost every successful entrepreneur spends more time growing the business than considering how the growing family will successfully...
Mandatory Compliance: Illinois Secure Choice Program
As of November 1, 2023, Illinois employers with five or more employees are required to participate in the Illinois Secure Choice Program. The Program, launched in 2018, is designed to address the retirement security crisis, offering an Illinois sponsored retirement...
October Business Bytes
This month’s Business Bytes highlights non-competiion contract clauses, privacy protection persistence and umbrella insurance. Non-Competition Contract Clauses. While there are legitimate needs and purposes for an employer to require its employees to sign...
New View on Unfair Competition
A recent Illinois Appellate Court ruling upheld a carpet cleaner’s claim against a competitor that its competitors’ use of cleaning chemicals banned by the EPA that do a better cleaning job than his legal cleaning solutions constituted unfair competition in Illinois....
