Our Chicago business attorneys
cannot overemphasize how important it is to undergo business maintenance and updating corporate or limited liability company business records. Business owners and corporate executives that are laissez faire about business maintenance or keeping business records up to date often regret neglecting this responsibility; this is especially true when the business gets sued, the business is audited, or the business is being bought or sold.
Business Maintenance Requirements
Illinois laws may require that certain formalities be met for the business entity to remain intact and to preserve the maximum liability protection. For example, a business must keep registration forms and fees current with the Secretary of State, a meeting of the shareholders and directors must be held at least annually, and the business entity must be operated in a manner that is financially distinct from its business owners. We help small businesses undergo business maintenance and ensure that all legal obligations are met.