The Low-Profit LLC: A New Entity in Illinois
On January 1, 2010, Illinois will become one of only 5 states to recognize the low-profit limited liability company (“L3C”). The L3C is a variation of the familiar limited liability company (“LLC”), and is only available to for-profit entities whose primary goal is to achieve a socially beneficial objective. Put ...
Contracts by Email: Writer Beware
Important business transactions are regularly decided and agreed upon via email these days. Email is instantaneous, easy, (mostly) secure, and with the proliferation of smart phones, allows big decisions to be made as quickly as one can type on her Blackberry. Despite the obvious advantages of email in business, there ...
Illinois Home Repair and Remodeling Act: A Cautionary Tale for Contractors
The Illinois Home Repair and Remodeling Act, 815 ILCS 513, is a statute obligating residential contractors to (i) have a written contract, (ii) include certain terms in the contract, such as price, insurance, and dispute resolution, (iii) provide the homeowner with a brochure informing them of certain rights, and (iv) ...
The Illinois Credit Agreements Act: A Lender’s Best Defense, A Debtor’s Greatest Obstacle
In Illinois, if any aspect of an agreement is deemed to be a "credit agreement" under the Illinois Credit Agreements Act, 815 ILCS 160/1 et seq. , and if the credit agreement is not a writing signed by both parties, then debtors may be barred from asserting certain claims, counterclaims, ...
Enforceable Non-Compete Agreements in Illinois
One of the most litigated issues in employment law is the legality of restrictive covenants like non-compete agreements. A non-compete agreement is a contract between an employer and an employee, in which the employee agrees not to engage in certain activities for a set period of time should she ...
Commercial Litigation
Illinois Home Repair and Remodeling Act: A Cautionary Tale for Contractors
The Illinois Home Repair and Remodeling Act, 815 ILCS 513, is a statute obligating...
The Illinois Credit Agreements Act: A Lender’s Best Defense, A Debtor’s Greatest Obstacle
In Illinois, if any aspect of an agreement is deemed to be a “credit agreement”...
Read More Publications From This CategoryIntellectual Property
Electronic Copyright Registration: An Overview
Any time one creates an original work, such as a photograph or musical composition,...
Implied Copyright Licenses: A Last Resort For Unwritten Agreements
Consider the following scenario: A small business owner finds a graphic designer...
Read More Publications From This CategoryBusiness Consultation
The Low-Profit LLC: A New Entity in Illinois
On January 1, 2010, Illinois will become one of only 5 states to recognize the low-profit limited liability company (“L3C”). The L3C is a variation of the familiar limited liability company (“LLC”), and is only available to for-profit entities whose primary goal is to achieve a socially beneficial objective. Put differently, profits must... [Read more of this article]
Read More Publications From This CategoryGeneral Counsel
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Acumen’s General Counsel Subscription tailors a flat monthly fee to the legal needs of your business. Our business attorneys work as closely with your business as you need, addressing those legal matters most important to your business’ continued success. The advantages of our General Counsel Subscription include: The opportunity for significant... [Read more of this article]
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Recent Publications
- The Low-Profit LLC: A New Entity in Illinois
- Contracts by Email: Writer Beware
- Illinois Home Repair and Remodeling Act: A Cautionary Tale for Contractors
- The Illinois Credit Agreements Act: A Lender’s Best Defense, A Debtor’s Greatest Obstacle
- Enforceable Non-Compete Agreements in Illinois View all Publications