If you are considering purchasing shares in a company, do you understand the potential risks as well as the perks? What are the rights and privileges of a shareholder? And how do you protect these rights once you have them? Before becoming a shareholder, review the shareholders’ agreement carefully with the help of a lawyer. The shareholders’ agreement typically provides …
Do you have dreams of starting a business? If so, then you may not realize how important it is that you choose the right business structure. With the advice of a Champaign business law attorney, you can ensure that you choose the structure that gives you just the right balance of control and protection. For instance, if you prefer to …
Business owners agree that people are the lifeline of a company. The people you hire can make or break your business. Yet as an employer, it is essential to recognize that things change. There are instances when you may have to terminate an employee. Developing a severance package is one effective strategy for dealing with exiting employees. A severance package …
As a business owner, it is almost guaranteed that you will encounter some variation of the following scenario: You engaged a client and completed fantastic work. The products the client desired were delivered on time with practically no issues. To request the money the client agreed to pay you, you send an invoice or a bill. Unfortunately, your invoice is …
When you create a limited liability company (LLC) or a corporation, the concept of limited liability is one of the key rationales for those entity choices. Limited liability is typically available when you create distinct legal entities that separate your personal assets from your business assets, thereby limiting exposure to liability on both fronts. Even though this is a foundational …
As small business owners grapple with the economic realities of nationwide stay-home orders and social distancing mandates, legislatures have been updating laws and developing new programs to keep the economy afloat. The latest and most groundbreaking is the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2.2 trillion stimulus package aimed at supporting individuals, businesses, and governments now and …