
Business Bulletin


Negative Pledge in Loan Documents
While it is always important to read and understand the contracts you sign, loan documents, particularly those that look to be the lender’s printed “standard form” can contain hidden provisions. While a loan may say its “unsecured,” not constituting a lien on your...
International Business and Terrorism
The recent U.S fine imposed on a French company pursuant to the Anti-Terrorism Act, 18 USC §2339 B et seq., for its payments to a terrorist organization that controlled the area where its cement factory was located in order to keep it operating, is a warning to all...
Notice to Your Insurance Carrier
A recent rash of court rulings highlight the need to give all of your insurance carriers timely, complete, accurate and documented notice of a lawsuit, claim or potential claim in order to ensure you are entitled to the carrier’s defense and coverage that you paid...
Illinois Personnel Records Review Act
Illinois law, 820 ILCS 40 et seq., obligates employers to timely provide on the demand of any employee or a former employee within one year of termination, an opportunity to review and obtain copies of any personnel file maintained on that employee relating to his...
Speedier Documents for Condominium Sales
Illinois recently addressed a persistent problem with the time and cost to obtain condominium association documents in order to complete a condo sale by amending the Condominium Property Act, 765 ILCS 605/22.1, effective January 1, 2023. The association must now...
Personal Umbrella Policy
A personal umbrella insurance policy is a layer of coverage above your auto, homeowners and business coverage to protect your business or personal estate in the event of a catastrophic claim. It should start low enough to avoid gaps with underlying coverage and be...
Gift Tax Exclusion
On January 1, 2023, the federal gift tax exclusion increased dramatically by $860,000.00 or $1,720,000.00 for couples, for a total of $12.06 million. This could dramatically affect your giving, funding trusts and leaving inheritances to children and grandchildren....
Weed in the Workplace
The increasing number of states legalizing marijuana and its continued illegal treatment by the federal government, even in a reduced enforcement environment, poses a workplace issue for your business. While working under the influence need not be tolerated, policies...
Independent Contractors/Salespersons
With the expanding gig economy, increased use of independent contractors and enhanced enforcement of employment laws, businesses should be aware of the many laws and regulations that impact these relationships in order to avoid problems, including suits,...