Whether to structure a business purchase as an asset sale or a stock sale is one of the most important decisions in an M&A transaction. It’s important to consider a number of factors, including: liabilities; licenses, contracts, and relationships; tax implications; sales tax; and employee relationships. The decision often comes down to: Liability transfer vs. Business continuation The [...]
Scammers often target newly registered businesses. These scams often bear similarities to real communications from government agencies. The best defense is to stay alert and verify that such messages are legitimate. Top 5 LLC Scams A lot of new businesses find themselves targeted by LLC scams. The swindlers behind these LLC scams monitor the Illinois Secretary of State’s [...]
Employers who scan their workers' faces or fingerprints (or more) are seeing a raft of class-action lawsuits because of a little-reported legal update protecting biometric information. Many employers don't have the policies and procedures in place to comply with the strict interpretation of the law. Getting in compliance before trouble strikes can save a bucket of money! Small [...]
New year, new laws! In our 2025 annual legislative digest for Illinois’ small business community, we highlight seven new developments. Please note: This post covers only some of the new legislation taking effect this year and, while these laws certainly affect small businesses, there may be others as well. These laws make the following changes: The FTC’s battle [...]
Several laws take effect in Chicago starting on July 1st, 2024. Hiring parties will be required to provide more paid leave and sick leave to their workers. The city's minimum wage in 2024 will increase. The tipped minimum wage will begin to be phased out. State and federal governments usually write laws to take effect on January 1st, [...]
