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2013 Articles

Anti-assignment and change of control contract provisions in the sale of a business By Brian D. Rogers May 2013 company’s key contracts represent a valuable business asset. Thus, it’s crucial that the contracts remain in force as a business changes hands from the seller to the buyer when the business is sold.
Avoid unwanted liabilities when you buy a business By Brian D. Rogers January 2013 Take the good stuff. Leave the bad stuff. That’s the main idea behind buying a business via an asset purchase.
Court tags asset purchaser with seller’s FLSA liability By Michael R. Lied May 2013 A summary of the recent case of Teed v. Thomas & Betts Power Solutions, L.L.C.
Essential estate planning for business owners By Michael C. Foltz September 2013 The conventional estate plan addresses the disposition of assets and mitigation of taxes, while business owners require estate planning and business succession documents that compliment one another.
Fifield: A new “requirement” for restrictive covenants By Joseph H. McFarlane December 2013 The recent Illinois appellate court decision of Reliable Fire Equipment Co. v. Arredondo invalidating a non-solicitation and non-competition agreement, has employers wondering whether they could ever enforce restrictive covenants against their former employees.
Harassment: Supreme Court defines “supervisor” for revising job descriptions By James G. Gillingham December 2013 As a result of Vance v. Ball State University, all employers should analyze their job descriptions and determine whom they are identifying as supervisors and redraft the language where appropriate.
Intellectual property issues involved in the sale or purchase of a business—A checklist By Eugene F. Friedman June 2013 This checklist is abstracted from materials associated with a speech given by the author on behalf of the Business Advice and Financial Planning Section Council earlier this year.
Lessees and superfund liability By Gene Schmittgens June 2013 In December of last year, EPA published new guidance which clarifies that a lessee is entitled to assert the bona fide prospective purchaser defense.
Standards of value in a business valuation By Andrew G. Vaughn January 2013 Clients and attorneys tend to be surprised and/or confused when they learn that legally a business could have multiple values at the same time. This is because there can be different standards of value The following article illustrates this concept through hypothetical examples.
What business owners and attorneys need to know about the Firearm Concealed Carry Act By Frank J. Del Barto September 2013 An overview of the Firearm Concealed Carry Act and its implications for employers and business owners.