A How-To Guide for Business Breakups for Partnerships, LLCs, Corporations, and Everything in Between
Article description: The below is not to be considered legal advice. Instead, this article provides practical, Illinois-focused points to consider for ending partnerships, LLCs, and corporations. It discusses reasons partners split, legal rules (with statute citations), buyout options, valuation basics, and litigation alternatives. Why this guide exists (and who it’s for) Business breakups are stressful, […]
Arbitration, Mediation, and Litigation: What Businesses Need to Know Before Entering a Dispute
When business disputes arise, many companies assume they’ll be headed to court. But in today’s commercial landscape, an increasing number of contracts include arbitration clauses, which require parties to resolve disputes privately, outside the courtroom. There are also many instances when voluntarily engaging in mediation or arbitration has advantages over litigation. Below is a […]
Shareholder Derivative Litigation – UnitedHealth Faces Wave of Shareholder Derivative Lawsuits: What It Means for Corporate Boards and Investors
UnitedHealth Group is under fire—not just from regulators, but now also from its shareholders. UnitedHealth Group is facing another round of shareholder lawsuits citing the alleged Medicare fraud investigation reported by The Wall Street Journal in May. Steve Silverman, a UHG shareholder since 2003, filed a second shareholder derivative lawsuit last week in U.S. District […]
What Is a Business Tort? Understanding Fraud, Interference, and Other Unfair Practices in Commercial Litigation
In competitive industries, aggressive business tactics are expected—but not all conduct is fair or legal. If a business intentionally interferes with your company’s contracts, deceives you into a bad deal, or abuses confidential information, they may have committed a business tort. These claims can be complex, but the financial stakes are often high. Business tort […]
AI Contract Disputes Are on the Rise — Are You Ready?
Artificial intelligence (AI) is rapidly transforming how businesses operate. It’s also giving rise to a new category of legal disputes: AI-related contract litigation. These types of disputes are common when a new technology arises. Primarily they’re because either the person selling or buying (or both) the new technology doesn’t understand the new technology. From failed […]
Ways Partners Commit Fraud—and How to Protect Yourself
Business partner misconduct is more common than many entrepreneurs realize—and it can destroy companies, careers, and reputations. When one partner betrays the trust of another, the fallout can lead to complex litigation, financial loss, and the unraveling of years of hard work. Below, we outline the most common ways business partners defraud each other, the […]
Trustee Troubles? How a Motion for Instructions Can Help
Trustees are often asked to make difficult decisions under circumstances that the trustee did not anticipate before accepting the role. In some cases, the language in the trust instrument isn’t clear, and the trustee may be unsure of what to do. In others, one or more beneficiaries may disagree with a trustee’s plans for the […]
Put the Trust in Trustee – Trustee Responsibilities and Beneficiary Rights as Told Through Tony Bennett’s Estate
Whether you are a trust beneficiary or the trustee, you need to know what that means to avoid issues and potentially costly expenses. Trustees have duties—both in the law and outlined in the trust agreement. Beneficiaries have rights—also in the law and outlined in the agreement. These rights and responsibilities aren’t taught in school. So, […]
Understanding Books and Records Requests Under Illinois Law
Illinois businesses—whether structured as corporations, partnerships, or limited liability companies (LLCs)—must maintain accurate and accessible records. Stakeholders, including shareholders, partners, and members, have the right to request access to these records for review and verification. Access to a company’s books and records is an essential right for shareholders, members, or partners; this access allows you […]
M&A Disputes: Common Post-Closing Legal Disputes
Mergers and acquisitions (M&A) are complex transactions, often involving millions or even billions of dollars. Legal disputes can arise long after the ink has dried on the final agreement, and the consequences can be significant for all parties involved. The specific challenge can take several different forms, but the most frequent legal claim post-closing is […]
