As the year winds down, many businesses face contract disputes, unpaid invoices, or partnership disagreements that they’d like to resolve before closing the books. For companies seeking a faster and more confidential option than traditional litigation, business arbitration in Illinois can be an attractive solution. In this article, we explain… How arbitration for contract disputes works. When arbitration is most effective. What advantages it offers to Illinois businesses, particularly at the end of the year. Why Is Arbitration An Effective Dispute Resolution Option For Businesses During Q4? It’s uncommon for any dispute to be fully resolved within a three-month span, though some can be. Generally speaking, arbitration can be an effective option later in the year because it offers a faster and more confidential alternative to traditional litigation. Litigation can take years to move forward. Even serving a lawsuit and receiving a response can take over a month,…Read More
The holiday season is a time of celebration and heightened activity, but also one of the riskiest times of year for businesses when it comes to fraud. From increased transaction volumes to distracted staff, the conditions are ideal for dishonest activity to slip through the cracks. In this article, we’ll discuss… Why fraud spikes at year-end and the most common internal schemes. How companies like yours can strengthen their defenses. The role of an attorney in helping you mitigate liability. Why Does Business Fraud Tend To Spike During The Holiday And Year-End Season? There are several reasons, and they can vary depending on the industry. Generally speaking, business fraud tends to spike during the holidays because a perfect storm is at play: increased opportunity, distracted employees, and higher transaction volume all converge at the same time. Fraudsters take advantage of these conditions. With people busy shopping, closing year-end…Read More
When policyholders pay premiums, they expect their insurance companies to act in good faith and promptly investigate and pay valid claims. Unfortunately, that doesn’t always happen. In this article, we’ll break down… What constitutes bad faith insurance practices in Illinois. How these practices happen and what damages may be recoverable. When to seek legal help if you believe your insurer isn’t acting fairly. What Is Considered Bad Faith By An Insurance Company Under Illinois Insurance Law? Generally speaking, an insurance company acts in bad faith when its conduct toward a policyholder is unreasonable or vexatious. This can include deliberate, unfair, or dishonest behavior such as unnecessary delays, unreasonable denials of valid claims, or lowball settlement offers. Essentially, when an insurer fails to handle a claim in a fair and timely manner, it may be engaging in bad faith. What Are Common Examples Of Bad Faith Insurance Claim Handling?…Read More
Consumer protection laws in Illinois are designed to ensure fairness and honesty in the marketplace. In this article, we’ll discuss… What qualifies as deceptive business practices or consumer fraud in Illinois. How to recognize early warning signs of consumer fraud. What steps you can take to stay compliant and safeguard your reputation. What Qualifies As Consumer Fraud Under The Illinois Consumer Fraud And Deceptive Business Practices Act? Under the Illinois Consumer Fraud and Deceptive Business Practices Act, consumer fraud generally refers to any unfair or deceptive act or practice that occurs in the course of trade or commerce, or during business activity. Violations typically happen when a business commits a deceptive or unfair act that causes harm to a consumer who relied on the company’s representations. What Are Some Early Warning Signs That My Business Could Face A Consumer Fraud Claim? One of the earliest warning signs is…Read More
In this article, you can discover… What breaches of fiduciary duty in business partnerships might look like. How Illinois courts determine if a partner breached their fiduciary duty. Effective alternatives to litigation when a fiduciary breach has occurred. What Are Some Real-World Examples Of Fiduciary Duty Breaches In Business Partnerships? One of the most common breaches of fiduciary duties we see in business partnerships involves some form of self-dealing or unfair competition. This often occurs when one of the partners is either skimming money from the business for their personal benefit, or poaching customers from the business to a side business they may be operating in secret. We see this most often in service-based industries. For instance, someone running a home repair business with a partner might get a call from a friend or neighbor. Instead of routing that job through the business, they perform the repair on…Read More
In this article, you can discover… When your business should consider a shareholder buy-out agreement. The events that trigger a mandatory or voluntary shareholder buy-out. How buy-sell agreements help protect businesses during shareholder exits. When Should A Business Consider A Shareholder Buy-Out Agreement? I always recommend that shareholders put a buy-out agreement in place from the very beginning. A well-drafted shareholder agreement should clearly outline the roles and responsibilities of each shareholder. In addition, these agreements should also lay out the specific circumstances under which a shareholder can request or be required to sell their shares, whether to the other shareholders or back to the company. What Events Typically Trigger A Mandatory Or Voluntary Shareholder Buy-Out? Mandatory buyouts are rare and typically only occur when they’re outlined in advance in a shareholder agreement. These agreements often spell out specific events that may trigger a buyout to protect the…Read More
In this article, you can discover… Why employers most commonly misclassify independent contractors as employees. The proper way for a business owner to respond to a misclassification claim. How hiring an attorney can help if your business is accused of employee misclassification. What Qualifies As Employee Misclassification Under Illinois Employment Law? Employment misclassification typically occurs when an employer labels workers as independent contractors when, under the law, they should be classified as standard employees. There are several key elements that state auditors consider when determining the correct classification of an employee, including the degree of control the employer exercises over the worker’s tasks, the method of payment (whether hourly or salaried), the nature and extent of the work performed, and other relevant factors. The auditor uses a multipart test to help with their determination and considers many of the factors mentioned above. If the results show that most…Read More
In this article, you can discover… The types of employment-related lawsuits that are most common. What an employer should do immediately after being served with an employment lawsuit. How long employers have to respond to a workplace discrimination claim. What Types Of Employment-Related Lawsuits Are Most Common In Illinois? The three most common employment-related lawsuits in Illinois typically involve wage and hour disputes, workplace discrimination, and violations of restrictive covenants. The first and most common of the three are wage and overtime claims. These involve employees alleging that they weren’t paid for all the hours they worked or that they weren’t paid the proper overtime rate as required by law. The second category involves a wide range of discrimination claims. These might involve failure to accommodate a medical condition or disability, or claims of discrimination based on race, sex, or sexual orientation. We encounter numerous cases like this…Read More
Preparing For A Consultation With A Business Law Attorney During an initial consultation, a business law attorney will ask you several key questions to gain a deeper understanding of your background and goals. They will want to hear your story. They may ask whether you’ve been dreaming about starting a business for years or whether it’s just a fresh idea you’re eager to develop further and get a sense of what realizing it might entail in the meantime. Understanding your vision helps an attorney in their ability to provide you with tailored legal advice that aligns with your ambitions. As part of their dive into your background, they’ll ask about your current work and personal situation. This information will help them understand what this business truly means to you. Is the business a side venture, merely a passion project, or something you want to dedicate yourself to on…Read More
In this article, you will discover: The role of mediation in contract disputes. The pros and cons of mediation vs. litigation. What to do if the opposing party doesn’t negotiate in good faith. How Does Mediation Work In Contract Disputes? Mediation is one of various forms of Alternative Dispute Resolution (ADR). Mediation may be performed by a judge at the courthouse. In that case, it is frequently free of charge. In more complex cases, the parties may choose to engage an independent, third-party mediator to assist them in settling a case. Independent mediation, however, may require the parties to compensate the mediator for their time. In either scenario, the mediator will assess the strengths and weaknesses of the plaintiff and defendant’s claims in a breach of contract case. The mediator will also have frank discussions with the parties about those strengths and weaknesses, their likelihood of success and…Read More