Business Transactions

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...]

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. If Smerge's business were incorporated, there would be little chance a judgment creditor could attach them to satisfy a judgment against the business. Smerge's saga started when he decided to raise money to send his son to college by publishing and selling a $2 … [Read more...]

3 qualities to look for in your managers

“People don’t leave jobs, they leave managers” is a saying that many Illinois business owners are familiar with. According to Forbes, many employees will abandon positions with large salaries, competitive benefits or opportunities for advancement due to issues with their managers. As any business lawyer understands, poor management can also expose businesses in Arlington Heights to disputes or legal issues. It is essential for business owners to reduce the risk of these outcomes by making … [Read more...]

Should you hire family members to work for you?

As most business owners know, bad hiring decisions can have steep costs. According to Forbes, replacing a bad hire can cost 30 percent of that person’s yearly salary. Poor hiring decisions can also adversely affect productivity and morale. To avoid these issues, many business owners may consider hiring family members. However, as any attorney knows, this approach can offer drawbacks that business owners in Illinois should understand beforehand. Potential benefits Familiarity is a factor … [Read more...]

Increase your profit margin through social media

Social media is a vital resource for increasing profit margins. As technology becomes a more and more important part of daily life, it influences people’s purchasing habits and the ways they share information. Smart businesses use social media to stay in touch with their customers and build a wider consumer base, as every Illinois business attorney is aware. A recent study published in the International Journal of Marketing, Financial Services and Management Research shows that social media … [Read more...]

SEO: What is it and how can it help your business?

Search engine optimization, or SEO, is the practice of promoting and improving a website to elevate the amount of attention it receives from search engines. Business owners working with a business attorney in Lake County should keep in mind that there are many different aspects to SEO and a company’s strategy can either be relatively simple or highly complex. Basic SEO strategies Although no two SEO plans are the same, most campaigns use several basic strategies. These include some of the … [Read more...]

What should your employee handbook include?

Business owners who work with a Cook County business lawyer often devise employee handbooks that outline what is expected of their employees and what employees can expect from them as their employer. Business owners creating a new employee handbook or updating their current one should make sure that their handbook contains several key pieces of information to accomplish this main purpose. Anti-discrimination policies Employers are required to abide by equal opportunity employment laws, … [Read more...]

What does business insurance cover?

Purchasing insurance is just smart business. No matter their size, businesses should always take the time and money required to ensure they are protected against many of the most common and most costly events that businesses can face. Business attorneys in Wheeling are often asked what protections businesses can find to cover their damages. Several of these commonly purchased types of insurance are offered by major insurers and are often bundled into plans. Others may be available on an … [Read more...]

What kind of voting rights can I assign to shares in my business?

When investors hold shares of a privately held corporation, they are granted certain rights as partial owners of the company. While state corporation laws must be adhered to, private corporations’ articles of incorporation and bylaws can grant and govern many of these shareholder rights, including voting rights. A transportation attorney in Lake County understands that voting rights are shareholders’ greatest tool for creating change within a corporation. What are stock voting … [Read more...]

Is there a benefit to outsourcing for small businesses?

Outsourcing is a business practice that has been around for decades. In order to save the costs associated with hiring skilled workers in certain areas, companies can send that work to other businesses that specialize in those areas. This, ideally, allows the work to get done by competent professionals while keeping more money within the business. Some small business owners may believe that outsourcing is out of their reach, or that it will end up costing them in the long run. However, a … [Read more...]

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