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 […]
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 […]
Protecting Your Business and Keeping the Competition Honest Online
The Illinois Uniform Deceptive Trade Practices Act (815 ILCS 510/1) is a lesser-known Illinois statute that can help protect your business from a competitor’s unfair tactics. For example, perhaps your former business partner may advertise your reputation or successes as their own. Or, perhaps a competitor lied about their product quality or service success to […]
What to do if someone is trying to force you out of your Illinois corporation?
If you’re a shareholder of a privately held (i.e., not publicly traded) company and your co-shareholders are excluding you from important decisions, are being uncooperative, areimproperly taking money from the company, or are taking other improper actions, section 12.56of the Illinois Business Corporations Act (and a lawyer) may be able to help. Section 12.56 of […]
Understanding Shareholder Equity Owner Rights
When you purchase or hold shares in the company, you own part of the company, which comes with certain rights. While every shareholder has some protections and legal rights, not every shareholder class is the same. Further, bondholders may have even more say or protection, even though you own part of the company. Nonetheless, state […]
What Do Corporate Litigators Do?
Corporate litigation will be a momentous event in the lifecycle of any business. Chances are that you are facing high stakes in your dispute. Some disagreements can even threaten the future of your company. However, corporate litigation does not always have to be a game with winners and losers. Both parties can also compromise to […]
Going up Against a Massive Company in a Legal Dispute? We Can Help!
Suing a major company in court is not like taking a car accident case to trial. This is not to say that personal injury litigation is minor, but suing large corporations is entirely different. A major corporation will make any litigation a hard-fought affair until the end. Often, there is a lot of money at […]
When Should You Hire a Corporate Litigation Lawyer?
You need an attorney when you face any potential corporate litigation. One of the key considerations is the timing of when you should hire an attorney in your case. Although you should always get legal counsel, there may come a point when your lawyer is at a disadvantage when they come onto your case too […]
