If you and your spouse co-own a business, figuring out what will happen to it after you get divorced may be one of the most important issues during the divorce process. When both spouses have a stake in the business it can complicate asset division. Fortunately, you...
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Closely Held Businesses
Valuing a business for divorce purposes
There is an astonishing number of small businesses here in the state of Illinois – an estimated 1.2 million, according to the most recent federal figures. These businesses only exist thanks to the hard work and dedication of their founders and owners. A divorce feels...
Special programs president files breach of contract claims
The president of Pinnacle Behavorial Health, a special services program outside Illinois, has become engaged in a contentious battle against a local school board (and its superintendent) with whom it was contracted to provide services. The president of the special...
Book sellers protest new operating agreements
The business world in Illinois and beyond has expanded in recent years. The Internet has created the opportunity to increase income exponentially for those with products to sell. Some business owners offer hard copy products; others market items in digital forms. This...
Breach of contract claims filed against company in Illinois
When two or more parties enter into a lawful business contract, the conditions and stipulations of that contract are binding. If one of the signed parties refuses to honor the contract or fails to perform any action or service required by the contract, it is sometimes...
Breach of contract claims filed against auto dealership
In Illinois, as in other states, when a person or company is unjustly enriched at the expense of another, there might be an obligation for restitution to be made. In a recent case, breach of contract claims were filed by a company that says it was hired to place...
Breach of contract claims filed by food supplier
In recent times, various news stations have reported an avian influenza virus that has apparently swept through poultry farms in the United States. Millions of egg-laying chickens have died, and photographs have been published showing truck loads of hen carcasses...
Legal issues sometimes arise in a family owned business
In Illinois, there are a number of businesses that provide service to the their communities in a variety of ways. A family owned business might be among those that face legal issues at some point with regard to their transactions. Most business owners want to make...
What you must do before dissolving your business
Closing down your business does not have to be a sad time. Perhaps you want to retire. Or maybe you are ready to move on to new challenges, even though the business is financially healthy, and you do not want to sell to someone else. Of course, not wanting to deal...
What is the process of buying a business in Illinois?
Starting a new business can be exciting for many people, but daunting for others. Those interested in owning a business, such as in the construction industry, may prefer instead to buy an existing business. This way, they inherit the company’s name, reputation,...