Section Newsletter Articles on Business Law

Case summaries By Elizabeth A. Bleakley Business Advice and Financial Planning, October 2010 Recent cases of interest to Section members.
3 ways your business can run afoul of tax authorities By Gregory A. Zbylut Corporate Law Departments, September 2010 Steer clear of these minefields and you may have fewer tax-related headaches.
Illinois Supreme Court opinion update By Elizabeth A. Bleakley Business Advice and Financial Planning, April 2010 Recent opinions from the Illinois Supreme Court.
Legislative update for 2009-2010 By Daniel A. Edelstein Business Advice and Financial Planning, April 2010 Relevant new legislation for the Business Law practitioner.
Corporate shell game shot down by the First District By Patti Gregory-Chang Administrative Law, January 2010 On September 1, 2009, the First District handed down a ruling in the case of Vino Fino Liquors, Inc. v. License Appeal Commission of the City of Chicago, No. 1-07-3269 (Ill. App. 9/1/2009) (Ill. App., 2009).
Executive bonuses By Douglas A. Darch Employee Benefits, December 2009 When an executive leaves her position midway through the performance measurement period for an annual bonus, is she entitled to a pro-rata share of the annual bonus?
Making business sense of building green in the Midwest By Christina Spicer Business Advice and Financial Planning, December 2009 Over the past couple of years, there has been a lot of talk about green buildings and the high costs associated with building to green standards.
The Importance of reviewing your Directors’ & Officers’ liability insurance policy By Lola Miranda Hale Corporate Law Departments, October 2009 This article highlights practical issues companies should consider in connection with their D & O policies and provisions relating to indemnification.
Advising your clients regarding their Unemployment Insurance Act obligations By Anthony R. Phelps Business Advice and Financial Planning, September 2009 Clients looking to form a new business are often surprised regarding the vast amounts of regulation controlling their new activities.
Case Note: Forsythe, et al. v. Clark USA, Inc. By Kevin T. Veugeler Tort Law, September 2009 In a case of first impression, the Illinois Supreme Court has recognized a cause of action against a parent company for the actions of its subsidiary that results in a workplace injury.
Succession issues By William T. Kaplan Business Advice and Financial Planning, September 2009 An overview of common succession issues that arise when advising small businesses.
Renegotiating debt? Beware of tax traps By Steven W. Swibel Commercial Banking, Collections, and Bankruptcy, August 2009 In a non-bankruptcy, noninsolvency context, debtors and creditors are often surprised that a debt modification that does not appear to reduce principal or the effective interest rate may nevertheless result in adverse tax consequences.
Do your corporate policies consider social media? By Mark F. Hoffman and Trenton C. Dykes Corporate Law Departments, July 2009 From blogs to Facebook to Twitter, the use of social media is exploding. Increasingly, public companies are turning to these digital media avenues to capture and direct public attention and boost sales.
Retained earnings of a family business: Income, asset, or both? By Rory Weiler Family Law, July 2009 Are retained earnings income (as it appears from the definition) or are they assets? 
The basics of trademarks and trade secrets By Eugene F. Friedman Business Advice and Financial Planning, June 2009 Summaries of basic Trademark and Trade Secret concepts for the general practitioner.
Force Majeure as a risk allocation tool By Mark A. Primack, Stanley R. Weinberger, and Michael D. Kim Corporate Law Departments, June 2009 While the “irresistible” forces of force majeure events include acts of God, they also typically include wars and insurrections and sometimes conventional commercial events such as labor disputes, supply interruptions and equipment failures.
Mergers and acquisitions By James A. Nepple Business Advice and Financial Planning, June 2009 In a general practice setting, a discussion of Mergers & Acquisitions will focus primarily on acquisitions, since statutory mergers are, in this context, used primarily to change entity, change domicile, or otherwise change the nature of the entity, rather than to acquire other companies.  
“Best practices” for officers and directors navigating the current economic crisis By James A. Beldner, Richard Kanowitz, Scott L. Kaufman, and Ronald R. Sussman Corporate Law Departments, May 2009 In light of the current economic environment, it is vital for officers and directors of all companies to understand their fiduciary duties and, in particular, the shifting nature of these duties when their company is operating in a distressed context.
Generating revenue streams in tough times (or at any time): Putting your intellectual property assets to work By John Ambrogi Corporate Law Departments, May 2009 In difficult economic times like these, many business executives and owners have their minds on the bottom line—streamlining processes, reducing overhead and trimming “fat” to maximize profitability. It is a highly useful effort, but some executives can get “tunnel vision” and overlook opportunities to create revenue streams. One of the most overlooked areas is a company’s intellectual property assets.
Employment agreements By Herbert J. Klein Business Advice and Financial Planning, March 2009 Key points to consider in advising a client considering an employment agreement.
The Illinois Series Limited Liability Company—An overview By Richard M. Colombik and Linda Godfrey Business Advice and Financial Planning, March 2009 The Illinois version of the Series Limited Liability Company (“Series LLC”) became effective on August 16, 2005.
ABA formal ethics opinion: Ethics Counsel and Reporting. But what about Himmel? By Frank M. Grenard Corporate Law Departments, February 2009 On October 17, 2008, the American Bar Association’s Standing Committee on Ethics and Professionalism jumped into the somewhat muddied water of outside counsel disclosure requirements to its corporate clients in issuing Formal Opinion No. 08-453.
Case summaries By Frank M. Grenard Corporate Law Departments, February 2009 Recent cases of interest to corporate lawyers.
Legal and tax issues for franchisees By William A. Price General Practice, Solo, and Small Firm, January 2009 Buying and operating a franchise is different than most of the other purchase or investment decisions your client will make in the course of your lifetime. Your client is getting a business that they will run using a more-or-less established system, not purchasing something physical like a car or a house.  
Maintain ethical corporate governance during the economic downturn By R. Stephen Scott Corporate Law Departments, January 2009 The current economic downturn poses many new challenges to corporations. Failure to maintain ethical corporate governance, to save costs or to avoid delayed actions, may only complicate or derail the corporate objectives, as the automakers and Bank of America have learned. Failure to meet important stakeholder expectations will surely lead to loss of the public’s support, while exceeding those expectations should lead to greater support and achievement of the corporate objectives.
A business planning guide to successor liability laws, part 1 By Janette M. Lohman Business and Securities Law, December 2008 Before a purchaser buys either all or substantially all of the assets or stock of a business, the purchaser needs to ensure that it is not also acquiring that business’ old tax troubles.
Consultant Agreement Corporate Law Departments, December 2008 A sample agreement for hiring a consultant.
Corporate governance checklist for small businesses Business Advice and Financial Planning, December 2008 1.Is the corporation keeping minutes of meetings documenting rationales behind transactions occurring outside of the day-to-day management (i.e. salaries, money transfers, dividends, loans and loan repayments, equipment or land purchases or leases, etc.)?
Encouraging good corporate governance By Jacob Frost Business Advice and Financial Planning, December 2008 Aside from drafting Subscription Agreements, Articles of Incorporation, and By-Laws, there is more to advising corporate clients, and particularly small or closely held corporations, with regard to their compliance with corporate formalities.
Software Trial Agreement Corporate Law Departments, December 2008 A sample agreement for software trial.


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