One of the frustrations being a business owner is the failure of clients and customers to pay you for your services or the goods you sell. All types of businesses face this problem, including contractors, suppliers, medical providers, landlords and even attorneys. ...
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Firm News
New UCC Forms Notice from the Illinois Secretary of State
The Uniform Commercial Code (UCC) forms have changed for perfecting UCC liens. If you make UCC filings in Illinois, be sure you are using the new forms required as of July 1, 2013. The following notice is posted on the Secretary of State’s Business Services website:...
Are You the Wizard Behind the Curtain? (Corporate Formalities)
A case decided in March of 2012, is a complicated, though fascinating, study in corporate law. Shredding away the layers, it exposes a lesson to be learned for anyone who has incorporated a business, a risk that threatens small corporations much greater than large...
Will Apps for Apple and Andriod Phones?
There is no such thing as an iPad Last Will App, but a judge in Ohio ruled recently that a Will written on a Samsung Galaxy Tablet, because no paper was allegedly available, is a valid Will. That ruling naturally raises the spectre of Will apps for iPhones, iPads,...
Crackdown on Unpaid Interns
Internships have long presented opportunities for students and recent graduates to obtain practical education in their chosen professions and valuable experience to enhance their resumes. Employers have long benefitted from the unpaid help of those same interns. In...
Fiduciary Duty of Power of Attorney Agents
An agent pursuant to a power of attorney owes a fiduciary duty to the creator of the power of attorney (the “principal”) and is obligated to carry out the terms of the power of attorney with the highest degree of fidelity and good faith according to Illinois law....
Five Reasons to do a Will (and one bonus)
There are many reasons why people do not do Wills. There will be time to do one later. I don't have many assets. I am not ready to think about those things. I am not sure what is involved – and many other reasons. We try to focus on the positives: so here are five...
BASIC CONTRACT FORMATION FOR BUSINESS
Business owners are a hopeful, positive and adventuresome group. The strong character traits that propel people into commercial enterprise, however, may also reveal areas of weakness that may lead to difficulty and even disaster down the road. Business owners are not...
Five Myths about Estate Planning
To many it seems that estate planning is like a mysterious woodland creature. There are sightings, but descriptions of the animal do not all jive, and an accurate picture of the real thing remains illusive. Dispelling some myths about estate planning is a good start...
Business Planning for Survival
We all know intuitively that there is risk to business enterprise. We have watched restaurants come and go. We have heard the statistics: 50% of all businesses fail in the first year, and 95% do not survive the five year mark. Fortunately, those statistics are just...
