Imagine one disagreement with a partner, vendor or employee that suddenly drains your time and money. Could your business handle it? Running a small business in Illinois comes with many rewards, but it also exposes you to legal risks that can threaten your finances...
In an effort to track down financial fraud, the Financial Crimes Enforcement Network (FinCEN), an agency of the Federal government, has imposed new reporting requirements of most corporations and entities. The rule requires companies to file what is known as a “BOI...
Congratulations! You have formed your own business, choosing the limited liability company as its corporate structure. With hard work, skill, and dedication, your new business is sure to go places. Now you are hearing about something called an “operating agreement”;...
Being asked to join a new or existing business is always an exciting prospect. You’ve been invited to contribute to something that could be great, bringing with it all the financial success and the pride that comes with knowing you contributed to its success. But...
Article 4A of the Illinois Uniform Commercial Code (UCC) provides rights of a customer and obligations of a bank regarding fund transfers.[1] In the 2020 case, Whitaker v. Wedbush Securities, Inc., the Illinois Supreme Court addressed what type of institution...
By Holly F. Rumiano Law Clerk Generally, the scope of discovery in Illinois requires full disclosure of any document or tangible thing that is relevant to the subject matter. Ill. S. Ct. R. 201, 214. When a party is particularly resistant...