Business Transactions

Should my business carry professional liability insurance?

A recent report from Chubb Corp. found that many privately held companies are critically underinsured. Only one-third of the survey participants had purchased professional liability insurance, which protects a business against a number of risks. … [Read more...]

I’m ready to hire employees: Now what?

According to the Illinois Department of Employment Security, there are roughly 6 million people employed in the state. Compared to a year ago, the data now reflects a nearly 1 percent increase in the number of jobs. As a business lawyer in Lake County knows, it is a good sign for the economy and for the business when hiring is on the rise. … [Read more...]

Business costs: Evaluate large purchases before buying

For businesses, keeping operating costs low without limiting growth can be a struggle. A business lawyer in Illinois sees many companies who attempt to initially buy small and improve their systems later as business expands. However, this may end up costing more in the long run. … [Read more...]

3 Tips on setting up an effective meeting with a potential client

There are few things as satisfying for professionals than securing a valuable client for their company. However, an Arlington Heights business lawyer understands that getting that meeting in the first place may be more difficult than ever. … [Read more...]

How to recruit the best talent for your small business

Small businesses face some unique risks that other larger companies often experience on a smaller level. One of the clearest examples of this is seen in recruiting employees. If a large company hires a bad employee, damage may be done but it can often quickly be mitigated by work done by other employees, bosses, or individuals who fill the position in the future. … [Read more...]

What responsibilities should you hand over to the president of your business?

Business owners can face a continual stream of new challenges as their enterprises grow and change over time. What may start as a relatively small business venture that is manageable by the sole owner can one day be in need of additional management help. … [Read more...]

The pros and cons of using business investors

When launching a new business in Illinois, entrepreneurs have several options to consider as means to fund their new enterprise. As with many things, there is no right or wrong way to obtain necessary funding as the decision can vary based on many criteria. Every business owner should evaluate the choices individually as making a fully informed decision is one of the most important parts of making the right decision. … [Read more...]

How do you register a business in Illinois?

Starting a new business can be a very exciting venture for those involved. The process of setting up a new business can, however, seem complicated to some businesspeople especially when legal filings are required. … [Read more...]

Do non-profit companies pay taxes?

Illinois companies designated as non-profit organizations, or charitable organizations, have successfully applied for and obtained the federal  501(c)(3) status. This means that these companies are not legally obligated to pay certain federal, state or local taxes. … [Read more...]

The advantages and disadvantages of using trade secrets

Most Chicago businesses have some sort of special ideas or plans that they believe to be unique to them and integral to their success. Whether a marketing plan or a completely new product concept, these trade secrets are generally considered highly confidential by business owners and entrepreneurs. … [Read more...]

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