December, 2015 Archives

Archives for 2015

Creating Effective Non-Compete Clauses

One of the easiest ways for a competitor to gain a competitive advantage is for them to acquire a company's most valuable asset; the employees. They have the skills, experience, and knowledge competitors are eager to acquire. Effectively drafted non-compete clauses can reduce the risk that employees will end up on the competition's payroll. Non-compete agreements should be independent of other clauses and covenants. Ideally, it should be a standalone agreement. This limits the ability of a … [Read more...]

The Planning Stage of Advanced Care

Estate planning accomplishes several objectives, including the deferral or reduction in estate taxes, avoiding probate, and ensuring that the defendant's assets pass on to heirs of his or her choosing. What happens to that person medically is another aspect of estate planning, and these details can be contained in an advance care directive. This part of estate planning is a legal document that is created while the person is still mentally and emotionally capable. It indicates their decisions, … [Read more...]

Trucking Companies, Owner-Operators and the Dangers of Incorrect Paperwork

It is common for truckers to own their own business, both owning and driving a truck. Large trucking companies often engage in business partnerships with owner-operators, a practice that can prove rewarding for both parties. When the partnership is not properly documented, however, problems can arise, leading to legal disputes which are thoroughly avoidable. Illinois Transportation Laws In order to keep drivers and all who travel the roads safe, Illinois transportation laws include regulations … [Read more...]

New Rules for Commercial Drones

From medical deliveries to real estate surveys, an increasing number of business transactions and practices now involve the use of commercial drones. However, as the world adjusts to this new technology, government regulations continue to evolve too. Because these small, unmanned aircraft continue to interfere with airplane flight paths, the Federal Aviation Administration (FAA) is introducing new requirements to enforce existing rules for recreational and commercial drone use. Registration … [Read more...]

Spike in Deed Fraud An Epidemic in Major Cities

As advances in technology continue to develop and an increasing number of Realtors place properties and sales records online to enhance the transparency of real estate transactions, a spike in deed fraud has become an epidemic in some major cities. The rising threat has begun to target unsuspecting homeowners in cities like New York, Chicago and Detroit. A recent report about Sybil Patrick, whose beautiful brownstone home was sold for $750,000 without her knowing, clearly portrays the … [Read more...]

Could incorporation have protected Cubs fan

The only thing Matt Smerge wanted was to raise money for his teenage son's college fund. Instead, he would up in an altercation with a Chicago police officer suing his beloved baseball team and putting his personal finances at risk. … [Read more...]

Avoid these dangers when negotiating a commercial real estate lease

Landlords often push longer lease terms, offering better pricing or other incentives to sweeten the deal. Yet without flexibility, a small business locked in a long-term lease may suffer should it encounter unexpected growth or decline. Limiting the duration of a real-estate lease to one to two years will better suit the needs of less mature businesses. A real estate lawyer in Chicago can help you negotiate renewal options with reasonable limits on rent increases. … [Read more...]

Rahm Emanuel Requests Significant Raise to Illinois’ Commercial Property Taxes

Mayor Rahm Emanuel is seeking to raise taxes on commercial property holders in the hopes that these tax increases will stave off the state's ever burgeoning budget shortfalls. This past week, he pitched his proposals to Chicago's 50 Alderman seeking their support of the largest property tax increases in the history of Illinois. … [Read more...]

Selling your home in the winter

People are often reluctant to put their home on the market with winter approaching. The reality is that marriages and births, promotions and job transfers happen year-round, so people are looking for houses during all seasons. … [Read more...]

Be honest when discussing your children’s inheritance

When a Brooklyn art collector died, he left seven Monet works of art to his son. According to JP Updates, the son was supposed to keep one painting and distribute the rest among his six siblings. However, the son fell ill and struggled financially, resulting in a multi-family dispute over the paintings. … [Read more...]

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