Business Information
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...
Avoiding Personal Liability for your Partner’s Actions
Whenever you are in business with another person or you employ other persons in your business, you expose your personal assets to claims by parties that may be harmed by the actions or omissions of those other people. If not addressed before the liability occurs, the...
June Business Bytes
This month’s Business Bytes highlights side hussles, employees’ social media and new class action targets. Don’t Let Your Side Hussle Sideline You. As one of the owners of a business, your side job or employment outside of that business could pose...
New Restrictions on Employment, Severance and Separation Agreements
While most employers are not obligated to provide severance to properly terminated at-will employees, no improper discrimination, contract obligations or retaliation involved, they often offer some form of severance conditioned on the terminated employee signing a...
Employment Best Practice and Protection
A recent Federal Appellate Court affirmed the lower court’s dismissal of a demoted employee’s racial discrimination and retaliatory claims against her employer and provided guidance to employers on how to avoid or win such cases. Bragg v. Munster Medical...
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...
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...
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:...
