Business Assets
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...
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...
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....
Plan Your Business/Investment Exit
Like a parent preparing an estate plan or an engaged couple preparing a pre-nuptial agreement, when you start or invest in a business you should have an exit plan. Deaths, disabilities, retirements or just the passage of time can create the need for substantial...
July Business Bytes
This month’s Business Bytes highlights privacy protection, pursuing insurance claims and businesses in distress. Privacy Protection. While Illinois may have been first to enact strict privacy protections, most states, the federal government and many countries...
Hidden Loan Provisions
Even though you may be charged by the lender for it to prepare the documents for your loan and they are presented as the lender’s standard or customary documents, beware of the hidden provisions that always benefit the lender and never the borrower. Even if the lender...
Selling a Small Business
Selling a closely held small business or your interest in one is a challenge, requiring a different mind-set and skill set from operating the business. Identifying and approaching the most likely potential purchasers can be risky but also beneficial. Some potential...
Your Business’ Digital Assets
As many of your business’ records and accounts are stored or accessed electronically, it is increasingly important to not only inventory, secure and protect these assets, but to enable your business or its successor to access them. Some steps to take include:...
November Business Bytes
This month’s Business Bytes highlighs reservation of rights, avoiding hack attacks and workplace satefy. Reservation of Rights. While most states require your liability insurance carrier to defend you even if there is just an arguably covered claim alleged,...
Trademarks
A trademark is a legally protected, non-generic, unique and distinctive name, symbol, letter, word, mark, slogan, phrase, smell, color, sound or hologram that can be owned to identify your business, products or services. It identifies and distinguishes your business...
