Section Newsletter Articles on Business Law

New guidance on Qualified Default Investment Alternatives clarifies regulations issued in 2007 By Brian M. Pinheiro and Samantha E. Massie Corporate Law Departments, June 2008 The U.S. Department of Labor (DOL) recently released subsequent guidance to the final qualified default investment alternatives (QDIA) regulations that were issued in October 2007.
Twenty years since Asahi: Reviewing the still-uncertain “stream of commerce” theory By Seth L. Ellis Civil Practice and Procedure, May 2008 In 1980, the Supreme Court of the United States recognized the “stream of commerce” theory for obtaining personal jurisdiction over an out-of-state corporation.
Immigration Service attempts to resurrect social security no-match regulation By Grant Sovern, Lisa Duran, and Benjamin Kurten Corporate Law Departments, April 2008 The Department of Homeland Security’s Immigration and Customs Enforcement agency “ICE” will issue a proposed final regulation in the Federal Register.
Property and polity issues By Brent H. Gwillim and J. Meinen Business and Securities Law, April 2008 This 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 update By Raymond A. Fylstra Corporate Law Departments, March 2008 On February 7, 2008 the Illinois Supreme Court issued a notable free speech/defamation opinion,Imperial Design v. Cosmo’s Designer Direct.
Case updates By Frank M. Grenard Corporate Law Departments, March 2008 Speight 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.
Business entity selection at a glance By Alan R. Singleton Business and Securities Law, February 2008 What type of business is right for your client? Use this handy table to find out.
Intellectual property protection at a glance By Alan R. Singleton Business and Securities Law, February 2008 Compare the different forms of intellectual property protection from this handy reference chart.
The ice person cometh By John F. Fatino Corporate Law Departments, January 2008 Increasingly, corporate counsel and other employment practitioners have become concerned about the enforcement activities of both the federal and state governments concerning the hiring of undocumented workers.
Case updates By Frank M. Grenard Corporate Law Departments, October 2007 There are a couple of opinions in this update list that are of particular note: The Illinois Supreme Court’s extensive review of Requests to Admit procedures....and the 8th Circuit’s decision that civil judgments related to sex discrimination are non dischargeable in bankruptcy.
Survival in turbulent times: Using a business plan to focus the small law firm By John W. Olmstead Law Office Management and Economics, Standing Committee on, August 2007 In spite of today’s tough economy many small law firms are thriving and doing quite well organizationally and financially.
Articulating the business case for inclusion By Jane DiRenzo Pigott Women and the Law, June 2007 The business case for diversity is well established and directly relates to any legal organization’s ability to compete for the best clients and talent.
New tort theory approved by Illinois Supreme Court By Raymond A. Fylstra Corporate Law Departments, June 2007 In Forsyth v. Clark USA, the Illinois Supreme Court held that “direct participation liability” against corporate shareholders is a valid theory of recovery.
Raising capital for small businesses By Elizabeth A. Bleakley Business Advice and Financial Planning, May 2007 When obtaining venture capital or issuing securities, the business should rely on counsel familiar with the financing methods discussed in this article.
The Illinois Supreme Court holds that fax blasting may be potentially covered under a commercial liability policy Insurance Law, April 2007 In Valley Forge Ins. Co. v. Swiderski Electronics, Inc., the Illinois Supreme Court held that allegations against an insured for unsolicited faxes potentially fell within the insured’s commercial general liability “advertising injury” coverage as a “publication,” and “material that violates a person’s right of privacy.”
Consider a Co-op in the sale of a Closely Held Business By Tracy J. Nugent Business and Securities Law, March 2007 Owners of closely held businesses often consider establishing an Employee Stock Ownership Plan (ESOP) as a means to share with workers the expected growth in the value of the company and also to provide the additional incentive associated with equity ownership.
Negotiating and drafting pre-acquisition documents related to a business sale or purchase By Markus May Business and Securities Law, March 2007 A client comes to you, the business attorney, and asks for advice related to a prospective business sale or purchase.
The critical role of employee controls in data security By Ryan Sulkin Business Advice and Financial Planning, February 2007 Employees are key to a company’s successful compliance with various legal and administrative requirements involving data security.
Puleo v. Topel—A testament to the protection afforded by LLCs By Edward J. Jarot, Jr. Business and Securities Law, February 2007 When advising a client about the benefits of operating his business under the protective shell of a corporation or limited liability company, many advisors tend to focus on the tax and employee benefit differences between the two business forms, without much detailed attention paid to the differences from a liability and asset protection standpoint.
When representing more clients can actually result in less legal fees: Avoiding multiple representations can save hours of grief, unnecessary costs and challenges to your law license By A. Jay Goldstein and Erin L. Dunn Business and Securities Law, November 2006 A corporate attorney should avoid getting into a professional dilemma by following a simple rule: KNOW YOUR CLIENT.
Gray market raises concern among U.S. supply chain participants By Frederic Mendelsohn Corporate Law Departments, October 2006 Unlike the “black market,” where transactions are truly illegal, “gray market” transactions may or may not be illegal, but merely “unauthorized” by the manufacturer.
Raising business capital through exempt securities offerings By Elizabeth A. Bleakley Business Advice and Financial Planning, October 2006 At some point in time, most businesses need to raise capital from investors for start-up expenses, to stay in business, or to expand and grow.
Sweepstakes and promotions: The fine art of the fine print By Dina Ross Corporate Law Departments, September 2006 If your organization is planning to hold a sweepstakes or promotional giveaway, especially if you intend to hold it online, don’t forget the fine print. Sweepstakes and promotions are heavily regulated by federal and state laws and the Federal Trade Commission.
Early warning or too late: New development ordinances are in your future By Frank M. Grenard Corporate Law Departments, August 2006   While there are a number of requirements and volumes of regulations, the ones that this article intends to address are those which mandate the MS4s to enact ordinances which have an impact on property development and use.
Court of Claims in CSX case would still exempt a limited category of separation payments from FICA taxes By Steven A. Seelig Corporate Law Departments, July 2006 A recent supplemental opinion issued in the case of CSX Corp. v. United States draws some very fine lines around those separation payments that are exempt from FICA tax payments.
Corporate assumed name basics By Jodi K. Plagenz Intellectual Property, December 2005 What if a corporation, for marketing or other business purposes, decides to use a name other than its legal name without making it ‘official’?
The economics of a business law practice By Carl R. Draper Business Advice and Financial Planning, April 2005 Lawyers, generally and especially attorneys who focus on "business law," are quick to advise clients on the need to plan.
True to form, the Tax Court overrides formula price in family business buy-sell agreements By Michael Cyrs Trusts and Estates, March 2005 In the October 2004 newsletter, members of this Section Council highlighted two recent cases (Estate of Blount and Estate of Smith) wherein the Internal Revenue Service ("Service") successfully applied Internal Revenue Code Section 2703 principles to disregard the restrictions provided under a buy-sell agreement between shareholders and to disregard restrictive provisions of a family limited partnership, both resulting in significantly higher valuations of the underlying property for estate and gift tax purposes.
Fifth Circuit Court of Appeals upholds the use of FLP against IRS attack By Howard Z. Gopman and Maria Motev Business and Securities Law, December 2004 In David A. Kimbell, Sr. Independent Executor Under the Will Of Ruth A. Kimbell, Deceased v. U.S., the Fifth Circuit Court of Appeals meticulously examined the facts and concluded that the use of an FLP (family limited partnership) could be upheld.
Illinois business law case update By Stephen D. Sayre Business Advice and Financial Planning, October 2004 There were, a handful of noteworthy cases addressing issues of practical importance for business lawyers during the past year.