by Brooks, Tarulis & Tibble | Jul 17, 2022 | Bankruptcy, Business Briefs, Business Law, Civil Litigation
Unfortunately, many businesses are confronted with extraordinary losses and may be forced to choose between a creditor workout or a reorganization bankruptcy in order to survive. Some of the differences between workouts and bankruptcies include. Timing. A creditor...
by Brooks, Tarulis & Tibble | Jun 15, 2022 | Business Briefs, Business Law, Taxes
Operating your business as a limited liability entity generally protects your personal assets from claims of business creditors, but the informal operation of small to mid-sized and family-owned businesses can sometimes weaken that protection when things go bad,...
by Brooks, Tarulis & Tibble | Apr 13, 2022 | Business, Business Briefs, Insurance
Asset protection planning is taking proactive steps to protect your personal or business assets and income before there is a legitimate threat or claim against you or your business. This is not giving away or transferring your assets to other parties, that carries its...
by Brooks, Tarulis & Tibble | Feb 14, 2022 | Business, Business Briefs, Contracts
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,...
by Brooks, Tarulis & Tibble | Jan 10, 2022 | Business, Business Law, Employees, Employment Issues, Insurance
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...
by Brooks, Tarulis & Tibble | Dec 15, 2021 | Business, Business Law, Contracts
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...
by Brooks, Tarulis & Tibble | Nov 18, 2021 | Business, Business Law, Contracts, Family Law
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...
by Brooks, Tarulis & Tibble | Oct 28, 2021 | Business, Business Briefs, Business Law, Contracts, Employees, Employment Issues
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,...
by Brooks, Tarulis & Tibble | Aug 10, 2021 | Business, Business Briefs, Business Law, Civil Litigation, Contracts, The Courts
Many businesses and contracts provide for mandatory arbitration of disputes in lieu of or prior to filing a lawsuit. While arbitration sometimes provides a quicker and less expensive way to resolve a dispute, parties need to be aware of the differences and some of the...
by Brooks, Tarulis & Tibble | Feb 9, 2021 | Business, Business Briefs, Business Law, Taxes
When confronted with overwhelming financial difficulties, owners often consider whether it is better to reorganize or liquidate their business. In making that decision, owners have many factors to consider, including: Nature of the Economy. Is there a place for your...
by Brooks, Tarulis & Tibble | Dec 9, 2020 | Contracts, Estates, Family Law
For aging baby boomers there are a plethora of living options from senior communities to assisted care facilities to skilled nursing homes. Each has its own benefits, costs and amenities, and are all subject to a written contract. As the services and purposes of each...
by Douglas Tibble | May 5, 2020 | Business, Business Briefs, Contracts, Individuals, Litigation
Mediation is a current name for the structuring of negation between parties in an attempt to resolve a dispute. It involves retaining a mediator(s) or neutral to conduct the mediation, usually selected by the parties for his/her negotiation skills or industry...
