Employment agreementsBy Herbert J. KleinBusiness Advice and Financial Planning, March 2009Key points to consider in advising a client considering an employment agreement.
The Illinois Series Limited Liability Company—An overviewBy Richard M. Colombik & Linda GodfreyBusiness Advice and Financial Planning, March 2009The Illinois version of the Series Limited Liability Company (“Series LLC”) became effective on August 16, 2005.
ABA formal ethics opinion: Ethics Counsel and Reporting. But what about Himmel?By Frank M. GrenardCorporate Law Departments, February 2009On October 17, 2008, the American Bar Association’s Standing Committee on Ethics and Professionalism jumped into the somewhat muddied water of outside counsel disclosure requirements to its corporate clients in issuing Formal Opinion No. 08-453.
Case summariesBy Frank M. GrenardCorporate Law Departments, February 2009Recent cases of interest to corporate lawyers.
Legal and tax issues for franchiseesBy William A. PriceGeneral Practice, Solo, and Small Firm, January 2009Buying and operating a franchise is different than most of the other purchase or investment decisions your client will make in the course of your lifetime. Your client is getting a business that they will run using a more-or-less established system, not purchasing something physical like a car or a house.
Maintain ethical corporate governance during the economic downturnBy R. Stephen ScottCorporate Law Departments, January 2009The current economic downturn poses many new challenges to corporations. Failure to maintain ethical corporate governance, to save costs or to avoid delayed actions, may only complicate or derail the corporate objectives, as the automakers and Bank of America have learned. Failure to meet important stakeholder expectations will surely lead to loss of the public’s support, while exceeding those expectations should lead to greater support and achievement of the corporate objectives.
A business planning guide to successor liability laws, part 1By Janette M. LohmanBusiness and Securities Law, December 2008Before a purchaser buys either all or substantially all of the assets or stock of a business, the purchaser needs to ensure that it is not also acquiring that business’ old tax troubles.
Consultant AgreementCorporate Law Departments, December 2008A sample agreement for hiring a consultant.
Corporate governance checklist for small businessesBusiness Advice and Financial Planning, December 20081.Is the corporation keeping minutes of meetings documenting rationales behind transactions occurring outside of the day-to-day management (i.e. salaries, money transfers, dividends, loans and loan repayments, equipment or land purchases or leases, etc.)?
Encouraging good corporate governanceBy Jacob FrostBusiness Advice and Financial Planning, December 2008Aside from drafting Subscription Agreements, Articles of Incorporation, and By-Laws, there is more to advising corporate clients, and particularly small or closely held corporations, with regard to their compliance with corporate formalities.
Software Trial AgreementCorporate Law Departments, December 2008A sample agreement for software trial.
Supreme Court summariesBy Gina MatthiesenBusiness Advice and Financial Planning, December 2008A.J. Carlson, Inc. (Carlson), a metalworking corporation, had construction contracts with three governmental entities, which required Carlson to obtain performance bonds.
Corporate lobbying laws in IllinoisBy Ryan GammelgardCorporate Law Departments, November 2008Corporations depend on building relationships with state, city, county and federal governmental officials in order to advance the policies of the organization.
Insurer must defend maker of lead paint-tainted toysBy Laura A. Foggan & Karalee C. MorellCorporate Law Departments, October 2008Last year’s massive series of recalls of children’s toys manufactured in China that contained lead paint spurred lawsuits seeking insurance coverage for losses arising out of the recalls.
Case updatesCorporate Law Departments, September 2008To read the full opinion of any of the cases decided in the Seventh Circuit Court of Appeals, go to http://www.ca7.uscourts.gov/. Under Case Information, choose Opinions and search by either party name or case number, both listed for the cases below.
Memorizing secret information may violate Trade Secrets ActBy Michael R. LiedLabor and Employment Law, September 2008Al Minor & Associates, Inc., (“AMA”) is an actuarial firm that designs and administers retirement plans and that employs pension analysts who work with approximately 500 clients.
Nondisclosure agreements: A discussion with useful examplesBy Eugene F. Friedman, J.D.,Ph.D.Business Advice and Financial Planning, September 2008Nondisclosure agreements find use in a wide variety of situations including employment, business sales, joint ventures, and other cooperative efforts.
Recent case involving the non-enforcement of non-solicitation agreementsBy Peter LaSorsaCorporate Law Departments, September 2008Last spring, the Third Circuit Appellate Court in Illinois upheld a Will County Judge’s decision and held an employment agreement, which restricted the ability of the employee to solicit customers of the employer post-employment, was not enforceable due to a lack of adequate consideration notwithstanding that it was signed at the time the employee was hired by the employer.
Summary of recent Illinois and 7th Circuit decisionsBy Raymond A. FylstraCorporate Law Departments, July 2008Trial court erred when it granted summary judgment to the owner which paid funds to the general contractor in response to a payment application which listed a balance due to the electrical subcontractor.
Corporations can pay child support tooBy Michael C. CravenCorporate Law Departments, June 2008Most corporate attorneys assume that divorce law has little impact on their practices.
Immigration Service attempts to resurrect social security no-match regulationBy Grant Sovern, Lisa Duran, & Benjamin KurtenCorporate Law Departments, April 2008The Department of Homeland Security’s Immigration and Customs Enforcement agency “ICE” will issue a proposed final regulation in the Federal Register.
Property and polity issuesBy Brent H. Gwillim & J. MeinenBusiness and Securities Law, April 2008This article pertains to the approach that the Illinois Courts have taken with regard to property disputes between a national church and a local church which is part of the national organization.
Additional Illinois case updateBy Raymond A. FylstraCorporate Law Departments, March 2008On February 7, 2008 the Illinois Supreme Court issued a notable free speech/defamation opinion,Imperial Design v. Cosmo’s Designer Direct.
Case updatesBy Frank M. GrenardCorporate Law Departments, March 2008Speight v. Walters Development. Implied warranty of workmanlike construction extends to subsequent purchasers (here third owners of home) who purchased home and discovered water damage and mold that allegedly resulted from defective roof and rain gutter construction.
