Every small business owner is faced with various business risks, whether related to an injury, theft, damage to property, employee discrimination claims, or liability suits. As much as you plan for success, as a business owner, you must have these risks on your radar. You should be prepared if and when they materialize. What [...]
Recently, I received a phone call from a good friend of mine, telling me that he is going through a divorce. Although he was expecting an amicable split of his liquid assets and share custody of his minor children, he could not say the same about his business ownership. My client’s divorce is now at risk [...]
How will a Trump presidency impact M & As. Donald Trump is set to become the nation’s 45th president when he is inaugurated on January 20, 2017. A Trump presidency promises to bring big changes - for better or worse. He has vowed to bring jobs and businesses back to the United [...]
Business owners often want their employment contracts to contain the most restrictive covenants. Yet, overzealous restrictive covenants may backfire if deemed overly restrictive, unreasonable, and going further than necessary to protect the “legitimate business interests,” which is an elusive concept. A restrictive covenant is a type of contractual arrangement. It is a clause in an [...]
The past few years have seen an increase in small to middle-sized business sales. The economic forecast suggests that this trend will continue. If you are considering a business sale, it’s vital to understand the selling process and prepare your business for the contemplated sale well before you try to put your business on the [...]
Everyday companies form and business partners come together with the best of intentions and hopes. Often things begin smoothly but trouble rears its ugly head down the road. If you have formed a company and have a business partner, it’s devastating to find your trusted partner stealing from you. If you find yourself in this [...]
The global business market has seen an increase in M&A deals in recent years. According to the Mergers and Acquisitions Condition Index, in July 2016 middle market business sale and business acquisition deals increased for the second consecutive month. Another noted trend is a decrease in deal closures - often the result of lack [...]
We’ve all been there. Whether you’re a business owner or a manager of a business, firing an employee can be tough. Follow the following six tips to make it easier for everyone to break-up the relationship and reduce the risk of wrongful termination or unfair treatment claims. Tip 1: Before firing an employee Give them [...]
Today’s job market is less than ideal. While the pool of job candidates is large, companies struggle to find manpower to fit their budgets. The solution for many companies is internship programs. Internships are becoming a standard graduation requirement at many colleges and universities with benefits to both employer and student. According to Brian Burnsed, [...]
Chicago requires wage increase starting annually. On December 2nd, 2014, the city of Chicago passed an ordinance to raise the minimum wage to $13 per hour. Under this ordinance, the minimum wage will be increased annually to the $13 limit by July 1, 2019. The incremental raises are scheduled for July 1 of each [...]
