Business Transactions

Hand holding a business plan board A business plan offers several benefits to startup companies in Illinois. Business plans are written documents that provide a description of a company’s business, goals, the intended methods for achieving the specified targets, and the time frame for reaching the stated goals. Business plans also often include details regarding the company’s funding and financial projections. 1. It Serves as an Operational Blueprint Nailing down the big-picture issues … [Read more...]

Finding the right business attorney depends on reaching out to a personal network, leveraging online tools, and applying discerning inquiries to weed out unqualified candidates. A business attorney can work as a force multiplier for small, medium, and big enterprises by empowering the company to expand into new business opportunities, increase hiring, and sign an extended lease. However, selecting the wrong attorney can be a drag on a company’s growth just as it is poised to expand … [Read more...]

Businesses and developers sometimes run into problems with finding much-needed capital, but hard money loans should be the last option that they consider. There are several reasons that hard money loans should be the financing source of last resort. These loans should not be used for anything other than short-term needs, and developers and business owners should pay them off as quickly as possible. A business transaction lawyer might assist clients with identifying better funding sources other … [Read more...]

When entering into a commercial lease in Illinois, understanding the terms of the lease agreement is essential to protect tenant rights. As a business transaction lawyer knows, a commercial landlord must uphold the contractual duties outlined in the lease, but landlord liabilities are not always clearly outlined. According to Illinois laws, basic tenant rights in a commercial lease differ from those in a residential lease. The most basic statutory landlord duties are not automatically … [Read more...]

Illinois small business owners are required to comply with certain environmental regulations and failure to do so can lead to fines and legal action. Unfortunately, not all small business owners are aware of or understand the regulations that they are responsible for complying with. Small Businesses and Environmental Regulations It’s not only businesses that provide automotive, agricultural chemical services that should be aware of federal and state environmental regulations. Small … [Read more...]

In a commercial lease there is a lot more at stake than just rent money; the success or failure of the business can hinge on the lease. Renters who do not take the time to consider carefully the terms of their agreement may face hefty maintenance costs, discover themselves responsible for unexpected taxes, or even find their business without a home. Illinois protects commercial lessees in three areas of particular importance. Habitability To protect residential tenants from exploitation by … [Read more...]