There are many reasons business owners close up shop, including retirement, starting a new venture or, hopefully, because they’ve won the lottery. No matter what the reason, it’s important to diligently wind down a business before moving on. Here are five steps to take: Reach consensus. If you’re a sole proprietor, then the only consensus you need is your own. …
Laws, Rules, & Regulations That May Not Apply To Small Businesses
An extraordinary number of laws, rules, and regulations govern businesses and their employees. A small business, however, may be exempt from one or more of them depending on its number of employees. For example: Discrimination Laws. Small businesses may be exempt from Title VII, the ADA and the ADEA: Title VII. Title VII prohibits employers from discriminating against employees on …
5 Reasons Your Single-Member LLC Needs an Operating Agreement
An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC – after all – why make an agreement with yourself? Is the Operating Agreement a Legal Requirement? Most states don’t require an LLC …
Independent Contractor or Employee: It’s Very Easy to Cross the Line
Many businesses prefer to hire independent contractors because there’s often less overhead and fewer expenses (i.e. taxes). However, classify an employee as an independent contractor and you’re in big trouble. Here’s how to legally differentiate between the two. Who Controls the Worker? This question is not always easy to answer. According to the U.S. Internal Revenue Service (IRS), evidence of …
Business Law: Letters of Intents v. Term Sheets
A letter of intent is used in many types of businesses to list the terms of a proposed deal between prospective parties. While the letter of intent is usually signed by both parties, it contains language stating that this letter does not create a binding obligation on either party. Despite this fact, there has been a great deal of litigation …
Illinois Employment Law: Overview of Farm Labor Laws
This expansive outline on farm labor laws was created for the 2018 Illinois Specialty Crops, Agri-Tourism and Organic Conference in Springfield, Illinois. It covers employment classifications (e.g., employer, employee, independent contractor), unpaid farm labor (e.g., internships, apprenticeships, volunteer farm labor, hiring and firing practices, wage and hour laws (including child labor laws), the Family Medical Leave Act, and employee handbooks.
Chart on Illinois Business Entities
This helpful chart for Illinois business entities was used for a speaking engagement last spring with Illinois Farm Bureau. It illustrates some of the major differences among different choices of business entities in Illinois including but not limited to sole proprietorship, general/limited partnerships, limited liability companies (including series LLC’s), and corporations. I’m a visual person so I love charts and …
Illinois Employment Law: Sick Leave
Illinois does not require employers to provide sick day benefits to its employees, either paid or unpaid. However, Illinois, of course, is subject to the Family and Medical Leave Act-a federal law. In Cook County and Chicago, effective July 1, 2017, there is a sick leave “ordinance” that goes into effect 180 days after employment begins. This must be posted …
Illinois Employment Law: Reasonable Accommodations for Pregnant Workers
New laws were enacted in Illinois pertaining to pregnancy and employment. The “Pregnant Workers’ Fairness Act” (P.A. 98-50) amends the Illinois Human Rights Act. (775 ILCS 5/2-102) that previously touched upon this area. This blog post will discuss how reasonable accommodations are addressed under the current law. Most people know that employers cannot hire, fire, segregate, select for training, promote, …
Illinois Federal Court Admissions
I’m proud to announce that I’ve now been admitted to all three federal district courts in Illinois. Although I practice primarily in state courts, I want to be prepared for my clients in case an issue arises in their life or business that will require a federal court appearance. I’m excited to have these credentials to better serve my Illinois …
Business Law: General Release for Video-Tapped Testimonials
My office just drafted a simple general release form for an agri-business client seeking permission to videotape client testimonials and use the recordings online. I think it’s a great idea to have a simple consent form to use for these types of situations where video-taped, audio-recorded and/or written testimonials are used in marketing materials. I suggest having language about the …
Ribbon Cutting for the Illinois Office
Big thanks to everyone who came out and supported the grand opening of the Rincker Law, PLLC’s Illinois Office in Downtown Champaign. Special thank you to the Champaign Chambers of Commerce for hosting the ribbon cutting offering us the opportunity. Photos from the event are on our Facebook page here.