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Learn about the new federal law, the Corporate Transparency Act, and its reporting requirements.
By Frank J. Portera 07 Mar, 2024
Beginning January 1, 2024, most businesses in the U.S. are required to comply with the Corporate Transparency Act. In this podcast, Lavelle Law attorney Frank Portera shares important details about the new Act and how it impacts businesses. He will cover the scope of the Act, deadlines, requirements, and penalties. If you own even a portion of a business, this is an important topic for you to learn about.
Business owners need to be aware when accepting payment for amounts in dispute.
By Jennifer B. Tee 08 Feb, 2024
If a business is disputing an amount owed to them from a customer or vendor they need to be careful about accepting and depositing payments that are labeled Payment in Full. Lavelle Law Shareholder Jennifer Tee discusses the legal concept of Accord and Satisfaction and outlines steps businesses should take when processing payments to prevent accepting payments that are less than what is owed.
Protect your business from employment claims with employee handbooks.
By Lance C. Ziebell 04 Oct, 2023
In this podcast, Lavelle Law Shareholder Lance Ziebell draws on his experience in representing businesses in legal matters as he discusses the importance of having an employee handbook. Lance not only explains why they are important, but what should be included and how to effectively use one to protect your business from legal claims from employees.
Protecting your trademark
By Matthew J. Sheahin 07 Aug, 2023
Lavelle Law Shareholder Matthew Sheahin, an experienced business litigator discusses the importance of establishing trademarks for a business and then details how to effectively use the legal process to defend those trademarks. Matt shares the steps business owners should take while he shares some examples of recent cases involving trademark infringement.
Have you considered an ESOP when selling your business?
By Steven A. Migala and David G. O’Leary 16 Jun, 2023
Employee Stock Ownership Plans are reviewed by Lavelle Law attorneys Steven Migala and David O'Leary, both of whom have extensive experience with this business succession option. ESOPs are a mechanism by which owners can sell their business to employees allowing their legacy to be protected. Learn about the advantages of the approach and some of the mechanisms involved in an ESOP transaction.
What Are Five Items Every Investor Should Address in Their Attorney Review Letter?
By Chance W. Badertscher 08 Jun, 2023
In this Tuesday Tip episode of Straight Up Chicago Investor, real estate attorney Chance Badertscher outlines the five items every investor should address in their Attorney Review Letter.
Taxes on your assets can be minimized after your death with the correct estate planning approach.
By Brian I. Warens 23 May, 2023
Once you pass away, your assets, including any businesses you own, can be passed on to your spouse, children, or anyone else you designate. However, they may be subject to taxes unless you prepare a sound estate plan that uses the right instruments. Lavelle Law Shareholder Brian Warens discusses how to minimize tax obligations for your heirs in this detailed estate planning discussion.
Taking the time to draft a shareholder agreement now can save you a lot later.
By Theodore M. McGinn and Meghan R. Hartnett 27 Apr, 2023
When people start a business their focus is on the here and now. If a task is not critical, it often gets overlooked or deferred. Lavelle Law Managing Partner Ted McGinn and Associate Meghan Hartnett discuss the importance of creating a sound shareholder agreement right from the start. They'll discuss what should be included and how to make sure all parties are represented and protected.
Learn about different ways to finance the purchase of a new home.
By Kelly A. Anderson 27 Apr, 2023
Mortgage interest rates have more than doubled in the last year causing some buyers to sit out for now while others look for the best way to finance their new home. Lavelle Law Shareholder Kelly Anderson and Sheila DuPaw of Guaranteed Rate discuss financing a home purchase in today's market including the seller buydown option. Learn more about this financing tool and other approaches in this informative discussion.
The  Illinois Biometric Privacy Act takes shape under several court rulings.
By Thomas J. Fox 24 Mar, 2023
The Illinois Biometric Information Privacy Act was enacted several years ago but as often happens with new laws, it is being defined through a series of court cases. Lavelle Law attorney Thomas Fox talks about several of those cases and what the outcomes mean for employers and the future enactment of the law.
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