Publications

Articles on Partnerships

Decisions, Decisions: Helping Clients Choose the Right Business Entity

By Sherwin D. Abrams
October
2013
Article
Page 530
Should your client organize as a corporation? An LLP? An LLLP? An L3C? This back-to-basics article identifies the entities and the factors to consider when choosing among them.

Simultaneous Offers for Partnership Break-Ups

By Lin Hanson
June
2007
Column
Page 328
Is your client ready to break up with a business partner? If so, here's some advice.

Sales of intangible property during cessation of business activity is nonbusiness income

January
2007
Illinois Law Update
Page 14
The Illinois Appellate Court, First District, affirmed on November 9, 2006, the Circuit Court of Cook County's grant of summary judgment in favor of the plaintiff after the Illinois Department of Revenue (Department) issued a notice of deficiency against her for alleged failure to report over $20 million in partnership income. 

New naming guidelines issued for limited partnerships and limited liability partnerships

February
2006
Illinois Law Update
Page 68
The Secretary of State has amended Part 171 of Title 14, 14 Ill Adm Code 171, also known as the Uniform Limited Partnership Act. 

Changes in place for business organizations

August
2003
Illinois Law Update
Page 384
The Office of the Secretary State recently adopted small, but significant, changes to the Revised Uniform Limited Partnership Act (14 Ill Adm Code 170) and the Limited Liability Company Act (14 Ill Adm Code 178).

Appellate court lacks jurisdiction where struck counts and dismissed claims not separate and distinct from remaining claims; income partners not “partners” for purposes of liability for malpractice claims

December
2002
Illinois Law Update
Page 634
On September 9, 2002, the Appellate Court of Illinois, First District, affirmed in part and reversed in part the orders of the circuit court of Cook County striking the plaintiff's breach of contract counts, dismissing part of the claim for damages.

Illinois’ Revised Uniform Partnership Act

By Steven G. Frost
December
2002
Article
Page 644
Effective January 1, Illinois' partnership law will undergo extensive change. Here's a review.

Legislation creates new Uniform Partnership Act; P. A. 92-0740

October
2002
Illinois Law Update
Page 512
On July 25, 2002, Gov. George H. Ryan signed into law Senate Bill 2049, which will replace the current Uniform Partnership Act with a new statute drafted by the National Conference of Uniform State Laws.

A new — and overdue — Uniform Partnership Act

By Helen W. Gunnarsson
August
2002
LawPulse
Page 392
Partnership will become an even more attractive form of business organization under the revised Act. But when will lawyers be able to form LLPs?

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