Business entity selection at a glanceBy Alan R. SingletonFebruary 2008What type of business is right for your client? Use this handy table to find out.
A business planning guide to successor liability laws, part 1By Janette M. LohmanDecember 2008Before 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.
Decision explains policy as to enforcement of restrictive covenants in employment agreementsBy Howard Z. GopmanAugust 2008In Brown and Brown, Inc. v. Patrick, Mudron and Cornolo and Thompson, Ltd. and Gunderson (Brown), 379 Ill. App.3d 724, 887 N.E.2d 437, 2008 WL 681848, 27 IER Cases 539, Ill.App. 3 Dist., March 11, 2008 (NO. 3-06-0908), the Third District Appellate Court made some interesting comments relative to the enforcement of restrictive employment covenants in affirming a summary judgment in favor of the employee.
Negotiating separation agreementsBy Michael R. LiedJanuary 2008Employers frequently seek to avoid or resolve litigation related to terminating an employee by having the other party sign a release or waiver.
Property and polity issuesBy Brent H. Gwillim & J. MeinenApril 2008This article pertains to the approach that the Illinois Courts have taken with regard to property disputes between a national church and a local church which is part of the national organization.
Remarks from the ChairBy William A. PriceFebruary 2008Illinois often follows the work of the National Conference of Commissioners on Uniform State Laws (NCCUSL) (Web site www.nccusl.org) in considering whether we need new laws to simplify and codify rules for corporation, business, and securities issues.
Remarks from the ChairBy William A. PriceJanuary 2008This year’s Corporation, Securities, and Business Law program of work is focused on member education.
Secondary actor liability for securities law violationsBy Tanya SolovJune 2008In claims alleging securities fraud, “secondary actors” often include officers, directors, accountants, bankers, attorneys, vendors, and underwriters.
Should your LLC make an S election to save on social security and Medicare taxes?By Tracy J. NugentDecember 2008Many factors are relevant in making the decision to elect S corporation tax status for an LLC, including whether the LLC qualifies to make the election, whether the LLC is likely to own, sell or refinance appreciating property, obtaining basis for loans to the LLC, the ability to adjust the LLC’s basis in it assets, and whether special allocations of income and expense items may be involved.
The threat is real—The fight for limited liability in IllinoisBy Derek P. UsmanApril 2008The statutory provisions providing limited liability to shareholders of Illinois business entities were undermined recently when the Illinois Supreme Court endorsed “direct participation” as a viable theory of tort liability under Illinois law
Using e-mail to create a contractBy Michael R. LiedAugust 2008There are a lot of ways to create a contract. Not surprisingly, courts are now beginning to find that an exchange of e-mails can be sufficient.
