Necessary Licenses For Operating A Business The required licenses to operate a business in Illinois depend largely on the nature of your business and its location. Businesses within certain municipalities—Chicago, for example—oftentimes need specific business licenses that are not required in the surrounding suburbs, such as those within DuPage, Will, or Lake County. On top of this, Illinois mandates that certain professions, such as accounting, engineering, medicine, and cosmetology, hold licenses through the Illinois Department of Financial and Professional Regulation (IDFPR). This agency regulates professional and financial services statewide. The Business Permit / Business License Application Process Believe it or not, the application process for business permits and licenses in Illinois is relatively painless. Assuming you don’t encounter any issues or aren’t some rare case, you can wrap it up online within a few days to weeks for a modest filing fee. However, this can vary depending on…Read More
The following article will cover: The steps you’ll take to begin the personal injury claim process. The time limit for filing a personal injury claim in Illinois. How to deal with unreasonable settlement offers from the at-fault party's insurance company. How Do I Begin The Personal Injury Claim Process After An Incident With Serious Injuries Caused By Someone Else’s Negligence In Illinois? If you’ve been involved in an accident, it’s important to take the following steps (if you are able to do so): Document the names, contact information, and insurance details of all involved parties. Obtain the names and contact information of any witnesses. Capture photographs of the scene, vehicles, and other relevant elements from various perspectives. Seek medical attention immediately, either by ambulance or by visiting the hospital soon after. Photograph your injuries for evidence. Contact an attorney promptly to help you file your claim and handle…Read More
Starting A Business In Illinois: Legal Requirements In Illinois, anyone with an idea and some initial capital can start a business. More often than not, they do so without a lawyer as a sole proprietor that sells a product or service. Sole Proprietorship can be risky however. There are ways that the new entrepreneur can protect themselves-- the most simple one being the formation of a formal business entity, like a limited liability company (LLC) or corporation. This process starts with submitting the Articles of Organization to the Illinois Secretary of State, along with appointing a registered agent, designating an office, and paying the required filing fee. You’ll also need a business tax ID number (EIN) to operate. While this setup is fairly straightforward, more complex considerations, like compliance, tax obligations, and potential licensing requirements, tend to follow incorporation. Registering For An EIN You might guess it to…Read More
The following article will cover: The role and primary responsibilities of a business law attorney acting as general counsel to an organization. How a general counsel helps ensure the company's compliance with laws, regulations, and industry standards. The ways in which a general counsel assists with contract negotiation, drafting, and review. What Is The Role And Primary Responsibilities A Business Law Attorney Will Provide To An Organization As Their General Counsel? The primary function of a general counsel is to offer consistent and proactive support across a spectrum of business needs – generally at a monthly flat fee. Clients value the ability to reach out to their general counsel for anything they may need, without fearing incremental charges for short consultations. What's more, over time a symbiotic relationship develops, enabling your general counsel to deeply understand your business – and grow alongside it. How Can General Counsel Help…Read More
The following article will cover: The business law services our firm provides to companies and individuals in Illinois. The importance of consulting with an experienced business law attorney at the outset when starting a small business to prevent pitfalls and reduce your long-term costs. The essential questions and discussions we cover with clients who are looking to start a business. What Business Law Services Can Your Firm Offer To Illinois Companies And Individuals? Our firm offers a comprehensive range of legal services tailored for individuals and small to medium-sized businesses. These services encompass assistance for start-up businesses in selecting the right corporate structure, crafting operational documents, formulating employment policies, addressing general corporate matters, and more. At What Stage In The Planning Process Should Someone Starting A Small Business Consult An Experienced Business Law Attorney? The best time to start working with a business attorney is at the very…Read More
In this article, you can discover… The first steps to starting a business. How to decide whether to lease or buy property. Common legal mistakes a business attorney can help you avoid. What Is The First Step I Should Take When Starting A Business? Think and create a business plan. A business plan doesn't have to be fancy, and it doesn't necessarily have to conform to any particular form that you might find online. A good business plan answers the questions… How do you intend to finance the business? Are you going to self-finance or seek outside investors? What's the product you're going to sell? Are you going to eventually expand your product line? Having these questions answered before you start can help the rest of your business journey run much smoother. What Is The Importance Of A Business Plan In The Startup Phase? The decisions set out…Read More
In this article, you can discover… The purpose of a vendor contract. How a confidentiality clause impacts vendor contracts. How to handle amendments and modifications to a vendor contract. What Is The Purpose Of A Vendor Contract? The purpose of a vendor contract is simply to set out the obligations clearly, in writing, between your business and vendors who supply goods or services. What does the vendor provide? When and how often will they provide the product or service? How much is the customer or client going to pay for the product or service? What happens if something is wrong with the product or service? What Should Be Included In The Payment Terms Section Of A Vendor Contract? The payment terms section of a vendor contract should govern the amount of payment, the frequency of payments, whether or not purchase orders and invoices are going to be issued, and how…Read More
Dear Friends And Clients, The world health crisis brought about by the coronavirus (Covid-19) is of great concern to us all. First and foremost, we hope this message finds you and your family and loved ones well. We thank you for the continued trust you have placed in us as your legal counsel. We wanted to inform you of developments in the legal community and how we, as a firm, are addressing them. The Federal Court, the Circuit Court of Cook County and the surrounding counties have been ordered to substantially shut down for the coming 30 days. In accordance with the CDC guidelines and our good judgment, our firm has shifted to substantially remote work as of today, March 19, 2020. We will be back in our offices as full operational capacity as soon as possible. In the meantime, will be utilizing all technology at our disposal…Read More
Have you ever been a party to a signed contract and then had the other party bail? This happens surprisingly often, especially in the real estate context. Imagine a buyer and a seller that have signed a real estate contract to transfer ownership of a home. The parties go through an inspection and other negotiation and then, suddenly, the seller decides that he/she can’t go through with it. What can you do? One option is to force the seller to complete the transaction by filing a lawsuit for breach of contract. That lawsuit can seek “specific performance” as the remedy. If the judge grants specific performance, you can acquire the property under the terms of your contract. Specific performance can only be granted where there is a valid and enforceable contract – in writing. The contract terms must be clear and unambiguous. In the real estate contract, unambiguous…Read More
A client recently asked me: “can I recover damages on an oral agreement?” My answer: “That depends.” It is always preferable from a legal perspective to reduce to writing any agreement with another person. It simply makes things easier and more straight forward. Sometimes, for one reason or another, that just is not done. But, not all is lost. Many oral contracts are enforceable – some are not. Illinois’ Statute of Frauds law makes clear that oral agreements are generally NOT enforceable when: (1) It is an agreement for the sale of land (2) It is an agreement for a term of longer than one year (3) It is an agreement where one person assumes another’s debt (4) It is an agreement for the sale of goods worth more than $500 (5) It is a promise made by executors and administrators of an estate. Generally, if the agreement…Read More