Publications

Section Newsletter Articles on Business Law

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.
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.
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.
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.
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.
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.
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.