Law Blog
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...
Monthly Business Bytes
This month’s Business Bytes highlights right of publicity, defamed corporations and key person insurance. Right of Publicity. Like the law of many other states, Illinois’ Right to Publicity Act, 765 ILCS 1075, prevents the commercial use of a person’s...
Douglas Tibble presents “Attributes of a Good Business Valuation Expert” at Sikich Accounting
On October 25, 2023, Douglas Tibble conducted a presentation entitled “Attributes of a Good Business Valuation Expert” at the appraiser/business valuator’s conference hosted by Sikich Accounting in Naperville. His presentation addressed enhancing the valuator’s role...
Disclosing a Data Breach
Suffering a data breach could be fatal to your business, but if it isn’t, don’t let your handling the breach make it so. Federal and state laws and trade association standards provide some guidance on when, what type and to whom notices of a data breach must be...
Financial Distress
When your business is faced with financial distress, there are actions you can and should take before all your lenders, creditors, landlords, customers and employees learn about the situation that may alleviate, reduce or defer the fall-out, that include:...
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....
What to do When You See Your Borrower in Trouble
As close as you may monitor your debtors or borrowers, you may be surprised when you learn that a debtor or borrower is in financial distress. Some of the steps to take to prevent your borrower or debtor’s financial distress from becoming yours include: Reconsidering...
