Entity Selection and FormationHow business owners choose to form their businesses affects their ability to control the business, manage their profits and losses, and protect their personal assets. Business owners have several options to choose from in Illinois. Some options require formal filings to create the entity, as well as continual documentation to maintain the statutory protections.
Contract DraftingThe simplest way to avoid disputes in business is to clearly document the intention of the parties to an agreement. Whether the agreement is for the sale, lease, or purchase of goods or services resulting in $10,000 or $10,000,000 in proceeds, the understanding of the parties must be clearly and concisely articulated.