Our experienced team of Chicago business lawyers represent professionals, entrepreneurs and business owners starting a new business in Illinois. Our business lawyers serve business clients of all sizes in diverse industries with a commitment to quality representation, integrity and responsiveness. Our law firm combines the client service expected from a boutique law firm with the experience and capabilities typically found in larger ones.
Online Business Formations
There are many benefits to starting a new business in Illinois. Illinois is widely known for its tourism, rich history, diverse geography, and architecture. It has also become an attractive state to own and do business, especially in the Chicago area. The restaurant scene is booming, real estate development is on the rise, construction is going on everywhere, the health industry is robust, big name industries are moving to town, and manufacturing plants are being built in many counties surrounding Chicago.
When a new business owner or entrepreneur decides to start a new business in Illinois, most often the initial considerations are: (a) how to organize the company; and (b) what business organization form will be the most appropriate. Deciding what business organization forms (e.g., sole proprietorship, general partnership, limited partnership, limited liability company, professional corporation or corporation) will be the best depends on various tax and other factors and considerations.
For example, some businesses, especially newly organized startups with undeveloped revenue streams it would simply not make sense to incorporate as a Illinois corporation. While other businesses, like banking and insurance institutions, must, by law, be incorporated as a corporation. On the other hand, business owners involved in a wide range of business activities, can generally choose the form of business organization that best suits the business’ ownership and operational structures – and usually the selection with be a Illinois LLC. Further, real estate developers, real estate owners generally prefer the Series LLC business structure offered in Illinois.
If you are ready to start a new business, our Chicago corporate attorneys can provide all business formation services entirely online. Our Chicago law firm offers flat rate fees for the majority of our business formation services to make it affordable for any entrepreneur, inventor or business to establish a business in Illinois. Please call or email for more information on our service offerings and legal fees.
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Online Business Reorganizations & Restructuring
Generally, businesses are formed and organized to reflect the current operational and ownership structure of the business. Once a business grows, expands and starts becoming successful, the business owners will likely need to address a reorganization of the business.
A significant part of our firm’s corporate practice involves providing representation to healthy companies seeking to recapitalize or restructure operations. These business transactions involve refunding or renegotiations of privately held debt, cash infusions from existing owners or new investors, restructuring or changing corporate and partnership tax elections, asset or business division/subsidiary sales and purchases, admitting new partners, shareholders and members to the business. When appropriate, our law firm will team up with tax and accounting professionals to address complex financial issues.
Online Trademark Registrations and Other Trademark Services
A business name, company slogan or tagline, insignia, symbol or logo of the business may function as a trademark and is given certain legal protections when it is used in commerce to distinguish a good or service from the goods and/or services of another business. A strong, unique trademark represents a standard of quality and/or distinctive identity that can be associated with a particular business’ product or service. Trademarks can be seen, heard, and touched. They can be placed on signs, advertisements and marketing, product labels, product packaging and be communicated through media instantaneously to millions of people. Thus, a trademark is a form of trade identity for a business that, if properly promoted, can achieve enormous value.
Filing for federal trademark and obtaining a successful registration provides numerous trademark benefits to business owners and entrepreneurs. These benefits include nationwide trademark rights, right to sue in federal courts, ability to recover money, use of the ® symbol, deterring others from using your trademark or similar trademark, ability to stop cybersquatters from using your trademark in domain names, etc. Our Chicago law firm offers flat rate fees for the majority of our trademark services to make it affordable for any entrepreneur, inventor or business to take advantage of important federal trademark benefits.
A few of the trademark services we offer online include, but are not limited to: (1) state and federal trademark registrations; (2) comprehensive state and federal trademark searches; (3) trademark monitoring; (4) development and drafting of trademark office actions (e.g., refusals and requests for additional information); (5) trademark assignment; (6) trademark renewal filings; (7) trademark cease and desist letters; (8) trademark opposition proceedings; (9) trademark cancellation proceedings; and (10) other trademark enforcement services. To determine whether your business should seek federal trademark protection, please contact our trademark attorneys for assistance.
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Online Business Contract Development
As any entrepreneur, small business owner, or professional knows, business contracts are an integral part of the business world, and can come in many forms. A properly drafted and negotiated business contract is the foundation upon which a business conducts its business. Our attorneys are highly experienced in developing and drafting business contracts in variety of business industries to ensure our client’s rights are protected.
Every business contract in Illinois should (i) be in writing (although oral contracts are enforceable in certain circumstances) and (ii) accurately detail the substantive terms of the contract. Our corporate lawyers in Chicago regularly review, draft and develop a range of business contracts for entrepreneurs, professionals, startups and businesses in various industries throughout Illinois.
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Online Business Purchases and Sales
A business acquisition occurs when one company acquires the assets (and possibly the debts and liabilities) of another business entity. In short, a business owner will either be selling a business or buying a business. An acquisition may also be the purchase of stock, partnership interests, or membership interests of another business entity. Generally, asset purchases are more prevalent as the assumption of existing businesses liabilities is not always attractive to a buyer.
Most business acquisitions are either as an asset purchase or a stock purchase. Where a transaction is structured as a stock purchase, by its very nature the acquisition results in a transfer of the ownership of the business entity itself, but the entity continues to operate per usual, hold the same assets, and have the same liabilities. Stock acquisitions involve the purchase of some or all of a target entity’s stock directly from its shareholders.
Conversely, an acquisition of assets involves the purchase of all or substantially all, or substantially all, of an entity’s assets in a transaction that is not in the usual and regular course of the transferor’s business. Past and existing liabilities generally do not pass to the acquiring entity except by specific conveyance.
When determining whether to structure a business acquisition as a stock purchase or an asset purchase there are a number of advantages and disadvantages of each that will need to be weighed by the buyer and seller. Our Chicago business acquisition attorneys have experience handling mergers and acquisitions, representing buyers and sellers alike. Contact our law firm to learn more about selling or buying a business in Illinois.
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Request Online Legal Services
To request online legal services for your business matter, please complete and submit the contact form on this page. After entering in your contact information and legal inquiry, one of our corporate lawyers will immediately be notified and he/she will respond to all legal inquires within 24 hours, or one business day.