Don't Navigate Your Situation Alone Have Qualified Professionals Working for You SCHEDULE A FREE CONSULTATION

The Illinois Business Attorney: An Entrepreneurial Spirit

May 23, 2019

Among the many worries, those starting a business in Illinois have, one is finding the right lawyer to help you succeed in the business venture you are undertaking. It doesn’t matter if you decide to start your business in Downtown Chicago, Aurora, Elgin, Naperville, Joliet, or Champaign– there is a good chance you will run into an issue that will require you to find a business lawyer to either help you accomplish a certain goal or resolve a certain issue related to your entrepreneurial dream.

This post is to highlight some situations that often arise in the context of running a business in which it would be highly recommended that you seek the advice of counsel.

Employment issues. If an employee or former employee threatens to sue, it may be in your best interest to hire a lawyer. In addition, you can often prevent legal issues from arising if you take preventive action and bring in a lawyer if you have any inclination that there may be grounds for discrimination in hiring, firing or a hostile work environment. Utilizing a lawyer as a mediator can often prevent litigation from occurring, and save a lot of money by avoiding the costs often associated with litigation.

Environmental Issues. if an environmental issue arises related to your business, contact a lawyer. Even if the issue is not your fault, you still may be penalized. Environmental protection laws carry heavy for landowners, even those who didn’t cause a hazardous situation. For example, let’s say you bought a gas station in Waukegan and you own the land it is on, you may want to hire a Waukegan business attorney to make sure you’re in compliance with the environmental codes.

Governmental Issues. If any governmental entities are filing complaints or investigating your business for violation of laws, it would be highly recommended to seek the advice of counsel. Imagine this, you buy a building for a new restaurant in Cicero, you have signed the paper and you are on your way to opening a new BBQ joint. However, you realize that the city is inspecting your roof and may say it does not meet the local safety ordinance. It might be a good time to contact a lawyer to help you resolve the issue and possibly save you the expense of incurring the cost yourself.

Purchasing and Selling Business Assets. If you want to negotiate the sale of your company or for the acquisition of another company, you will likely need a business lawyer. Take this, for example, you own a dry-cleaning business in Aurora and there is another cleaning business that your business could afford to absorb and it could save you the cost associated with having to set up another brand new dry cleaning business. You will likely want to hire an Aurora business lawyer to help negotiate the sale and reduce a likely complex agreement into writing to make sure you protect yourself and to make sure that the new undertaking is also financially feasible.

Special Allocations. If your business wants to make any sort of “special allocation” in the partnership agreement or operating agreement if you start an LLC, you may want to hire a tax attorney. For example, you start a limited liability company taxi cab company in Peoria and you want to allocate profits and losses in a way that is dissimilar to the ownership interests of the company. You should contact to confirm that you are in compliance with the IRS rules for special allocations.

Whether you are looking for a Schaumburg Business Attorney, an Elgin Business Attorney, a Chicago Business Attorney or anywhere else in Illinois, please contact today so we can assist you in making your business a success!