Section Newsletter Articles on Business Law

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.
Tax and trust fund issues By Richard M. Colombik and Linda Godfrey Business Advice and Financial Planning, June 2006 A look at the legal difficulties that business owners may encounter when corners are cut with the Internal Revenue Service.
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.
Does Illinois need a Business Trusts Act? By William A. Price Business and Securities Law, December 2004 Illinois has been in the process of revising and modernizing the statutes that determine the rights and liabilities of insiders and outsiders in business organizations for the last 23 years.
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.
Query: The Fiduciary Shield Doctrine. Have the exceptions swallowed the rule? By John B. Kinkaid Civil Practice and Procedure, November 2004 This sometimes obscure but very important rule implemented to protect employees of foreign corporations doing business in Illinois from the improper exercise of our court's jurisdiction has been with us since 1959.
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.
Law department managers hold the line on spending despite tough economy, new survey reports By Altman Weil Corporate Law Departments, September 2004 Newtown Square, PA, September 8, 2004-The newly released Altman Weil Law Department Management Benchmarks Survey reports total corporate law department spending per lawyer did not increase in 2003 despite law firm rate increases and other economic pressures.
Cash balance plans—An uncertain fate By Hugh F. Drake Business Advice and Financial Planning, June 2004 Two recent federal court decisions and subsequent congressional action have cast doubt on the future of cash balance pension plans so popular among large businesses.
Case comments By Michael J. Weicher and Justin J. Karubas Business and Securities Law, April 2004 The Board of Trustees of Community College District 508 v. Coopers & Lybrand
Checklist for financing sources By Gene A. Petersen Business and Securities Law, April 2004 From time to time, a client asks for assistance in seeking financing sources for growth, a business buyout, or other business needs.
Checklist for financing sources By Gene A. Petersen Business Advice and Financial Planning, February 2004 From time to time you may have a client who asks for your assistance in seeking financing sources for growth, a business buyout, or other business needs.
The Maritime Transportation Security Act of 2002: What does it mean to industry? By Patrick Costello Corporate Law Departments, February 2004 Following the events of September 11, 2001, Congress expanded its pending maritime anti-smuggling legislation to include the increased threat of terror attacks at ports and other maritime locations, which constitute the hubs of American vessel traffic
Doing business in the United Kingdom: The UK legal & regulatory environment By Edward Hoare Corporate Law Departments, December 2003 Historically, the UK has depended on international trade more than most countries.
Reaping the benefits of a financial planner By Patrick Baldwin and Gary Stern Business Advice and Financial Planning, September 2003 By working with a trusted financial planner as a partner, you can strengthen your client relationships and provide more insight beyond developing and implementing estate plans.
Overlooking liability coverage can be costly By Stanley C. Nardoni Corporate Law Departments, August 2002 Corporations defending lawsuits outside the bodily injury and property damage contexts often forget to check their liability insurance policies for coverage.
Do charitable organizations have a safe haven from general real estate taxes? By Brent H. Gwillim Business and Securities Law, June 2001 The Illinois statute 35 ILCS 200/15-65, entitled "Charitable Purposes" provides that facilities for the aged shall be exempt from real estate taxes when the premises are actually and exclusively used for charitable or beneficial purposes, and not leased or otherwise used with a view to profit.
Electronic business transactions By Ethel Spyratos Business and Securities Law, January 2001 As commerce evolves, businesses are confronting electronic transactions.
Early stage venture finance: sources of data for the “angel” round By William A. Price Business and Securities Law, June 2000 "Angel" finance deals, according to "The Process and Analysis Behind ACE-Net," a policy paper on the U.S. Small Business Administration Website, number about 650,000, and involve about ten private investors each, at about $65-66,000 per investor.
The lawyer and the business appraisal By Bruce L. Richman, James Kazmier, Matt Rychetsky, and Mary Warmus Family Law, May 2000 During law school did anyone ever tell you that when you became a lawyer you would need to know the calculation of "weighted average cost of capital" or the "premise of value" or "the build-up approach to cost of capital" or "what the standard of value is"?
Useful law summaries By Herbert J. Klein Business Advice and Financial Planning, September 1999 The Illinois Legislature enacted Public Act 90-737, the Illinois Governmental Ethics and Gift Ban Act.