Business Transactions

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. … [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 businesses … [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. … [Read more...]

Companies that establish a Bring Your Own Device (BYOD) program allow employees to bring their own digital devices to perform job-related tasks. The federal government joined the trend and issued a BYOD tool-kit to aid voluntary implementation in certain government agencies. BYOD can be a smart move for all concerned. Still, the reality of employees using their personal digital devices for work-related tasks is a new idea for most businesses. … [Read more...]

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...]