Thirty-two states have some form of business trust statute. Illinois does not. Should it?

Corporations are often treated differently than other businesses for jurisdictional purposes.

A look at key differences between the Illinois and Delaware LLC statutes and how they might affect hypothetical clients.

LLC members and managers are protected from personal liability even after the LLC is involuntarily dissolved. Here's a call for change.

The fiduciary obligations of corporate shareholders get a trim.

Among other changes, corporate filings now need only be made with the SOS, not with counties.

Many companies promise officers and directors an advance of litigation expenses for suits filed against them. But employers may be surprised by the potential costs of this perk.

Warning to buyers of going businesses: you may be buying some of your sellers' liabilities.

It's now easier to represent multiple clients, and to practice in Illinois if you're from out of state.

Make sure your business clients aren't opening themselves to disgruntled claimants.

If an LLC member loses her shares, to what extent does a creditor stand in her shoes?

It's an ethics problem under the old and new rules alike.

A reference to the sale of title insurance in the new rules has some lawyers concerned.

Learn about new amendments to the Illinois General Not For Profit Corporation Act.

LLC members who exercise the power of a manager now owe a fiduciary duty to the company.

One should be ignored. The other must be reviewed and answered carefully.

If a corporation becomes insolvent, directors and officers owe a duty to creditors.

By helping corporate clients with minutes, meetings and more you demonstrate your business value.

 Dissolving corporations can use this to reduce the period during which they remain liable.

Is a spouse entitled to corporate assets?

Learn how creditors can get at an llC member's personal assets.

Puelo wrongly held that a dissolved LLC was on the hook for liabilities incurred after the dissolution.    

Find out when creditors and tort victims can sue the buyer of a business for the debts and torts of the seller.

LLCs afford clients protection from creditors, but not unlimited protection.

The LLC has many benefits and few negatives for closely held businesses. Will it make the Subchapter S election obsolete?

Online filing? Advance review of filings? The SOS offers that and more.

A recent case describes how business owners should run their companies as separate entities to avoid being held personally liable.

Is your client ready to break up with a business partner? If so, here's some advice.