Illinois Bar Journal


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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?