The Blog For Business Law

— By Joseph S. von KaenelMay 26, 20160 Comments

Should Your Closely-Held Corporation Have an Advisory Board?

A closely-held corporation can benefit from having an outside director with special expertise (e.g., strategy, marketing, HR, technology, finance and international business). However, potential outside directors are often reluctant to take on the role of a director of a closely-held corporation because of fiduciary obligations…

Real Estate Law

— By Ron HackMay 20, 20160 Comments

Layaway Does Not Last Forever in Illinois

Suppose you go to your local hardware store, and order bathroom tile for a “weekend” project. Suppose you don’t pick it up within the time required because you are not ready install it. Then suppose you finally get to the point where you need the…

— By Alex HurstMay 9, 20162 Comments

Giving It a Proper Burial: Dissolving LLCs and Corporations in Missouri

When it comes to corporations, LLCs, and other entities, people tend to focus on their birth rather than their death, with most available literature being on the pros and cons of different types of entities and how to go about creating one. But for reasons…

— By Joseph RolnickiApril 28, 20160 Comments

What Do I Need to Protect My Invention, a Copyright, a Trademark or a Patent?

I often speak with owners of small businesses or start ups that want to protect their new product or ideas from being copied by competitors. Some tell me they would like to copyright their new product or idea. Some tell me they need a trademark…

— By Jace BrothertonApril 21, 20160 Comments

Major Changes Coming to Management and Overtime

Timeline On March 14, 2016, the U.S. Department of Labor (DOL) submitted its final overtime rule to the Office of Management and Budget (OMB) for review. Review by the OMB is the final step before publication of the final rule and generally takes between four…

Uncategorized

— By James W. GallenApril 7, 20161 Comment

Are You Carrying an “Eavesdropping Device” in Your Pocket?

In a recent episode of the CBS television drama “The Good Wife”, characters used devices such as smartphones, to surreptitiously record conversations with others. While the storyline did not include these people facing liability for their actions, this depiction of events caused me to think back to Don…

— By Gerry RichardsonMarch 23, 20160 Comments

Employee Relations by Social Media Puts Employers in Peril

Employee Relations and Social Media Create a Toxic Mix Businesses use social media to build their brands. Social media discussions, however, of employee relations issues frequently harm an employer’s brand. For example, recently a soon-to-be former Yelp employee blogged about her impoverished lifestyle because of the Bay…

— By Amy LangeMarch 16, 20160 Comments

The Times They are a Changing (Maybe, with Respect to Environmental Cases at the Supreme Court)…

On February 9, 2016, in an “extraordinarily rare move,” the Supreme Court stayed the rule which required the states to limit green-house gas emissions. The vote was 5 – 4 along ideological lines. These 5-4 votes have become common place in recent times. Just a…

— By Larry SewellMarch 3, 20160 Comments

Deadline Looming for Changes to Your Company’s Qualified Plan

Preapproved, defined contribution plans, such as 401(k), profit sharing and money purchase pension plans, must be amended and restated to comply with recent changes in tax and ERISA laws by April 30, 2016. Failure to timely amend and restate your company’s preapproved, defined contribution plan by this…

— By Alex HurstFebruary 25, 20160 Comments

Which Hat Are You Wearing?

Often in my practice I’ll write documents that call upon a client who owns all or part of a limited liability company (“LLC”) or other entity to sign more than once on the same signature page. This may seem silly, but it serves an important…