
Business


Supply Chain and Related Issues
Manufacturing delays, transportation shortages and overall supply chain issues caused problems for many businesses from manufacturing to retail. These situations outside of your control can also result in further problems for your business if you fail to supply,...
Expungement of Marijuana Arrests/Convictions
The law legalizing marijuana also provided that those arrested, convicted or who plead guilty to minor marijuana possession offenses could have their criminal records expunged. Minor violations were to be expunged automatically by the state’s attorneys of each county,...
New Business Laws for 2022
Probably due to the pandemic, the Illinois Legislature passed few laws important to business in Illinois and effective January 1, 2022. They include: Increasing the minimum wage to $12.00 per hour; Making non-compete agreements generally not enforceable against...
Potential Effects of Build Back Better and Related Bills Before Congress
The media’s focus on spending in the proposed Build Back Better and related bills pending before Congress overlooks many of the revenue aspects that could affect the estate plans of the wealthy and the tax strategies of business owners and the highest income earners....
Supply Chain-Force Majeure
The recent troubles with acquiring inventory, unexpected price increases, delivery delays and product shortages caused problems for many businesses. It also highlights that it is a good time to review your agreements, purchase orders, invoices, and other contract...
Buy/Sell Agreements for Small Businesses
Each business, or at least its ownership, has a life cycle and particularly with multiple owners it is important to consider at the business’ inception how the business may end or an owner leave. While the law provides a mechanism to end a business or one’s ownership,...
Business Succession
Your business supported you and your family, and when it’s time to retire, proper prior planning can enable it to also support your retirement. Successful business succession planning should begin well before you are ready to retire in order to maximize value for you...
Employee Non-Compete or Non-Solicitation Agreements
Any employer that uses or is considering using non-competition or non-solicitation agreements with its employers needs to review them prior to January 1, 2022, when a new law takes effect that can not only negate such agreements, but expose employers to damages,...
Guaranties, Non-Recourse Debt and Limited Liability
Whether it’s a corporation, company, limited liability entity, limited partnership, partnership or business trust, business owners are encouraged to form and use some type of business entity to limit their personal liability exposure, creating a firewall to prevent...
Trade Secret Protection
The 2016 Federal Defend Trade Secrets Act put federal trade secret protection on par with that for other intellectual property, like copyrights and patents, but without requiring registration or disclosure. The number of state and federal lawsuits using the Act...