Recent Blog Posts
Restrictive Covenants in Employment Agreements: Non-Disclosure Clauses
Restrictive covenants are often contained in employment agreements and designed to protect the employer’s legitimate business interests. Three restrictive covenants are often included in employment agreements: 1.) non-disclosure clauses, 2.) non-solicitation clauses, and 3.) non-competition clauses. With respect to the first category, non-disclosure clauses require an employee to maintain the confidentiality of an employer’s… Read More »
Employment Agreement
An employment agreement establishes the terms of employment between an employer and employee. These agreements may also include restrictions on an employee’s conduct upon termination. Non-competition clauses restrict an employee’s ability to work for a competitor for after termination. Non-solicitation clauses restrict an employee’s ability to take customers or employees from their former employer… Read More »
Employee Handbooks
An employee handbook can benefit your company by establishing the employment policies at your place of business and by providing protection from some potential liabilities. Every employer should have an employee handbook. They put your employees on notice of your company’s employment policies and procedures. An employee handbook sets forth the employer’s expectations from… Read More »
Registered Agent for Illinois Businesses
The Illinois Secretary of State requires all business entities operating in Illinois to identify a registered agent. Registered agents serve as representatives for certain legal matters related to the business, such as accepting service of process. In addition, registered agents are responsible for maintaining compliance with certain state requirements, such as the timely preparation… Read More »
Contract Enforcement
When a contract has been breached by one party, the non-breaching party may seek legal remedies, including enforcement of the contract in court. There are several forms of legal remedies that a non-breaching party may seek when enforcing a contract. Compensatory damages is a form of monetary relief awarded to the non-breaching party with… Read More »
Arbitration Clauses
An arbitration clause is a section of a contract that deals with the parties’ rights in the event of a legal dispute. Arbitration is an alternative to litigation, in which disputes are settled out of court with an arbitrator, a neutral third party who makes a binding decision. Arbitration clauses allow the parties to… Read More »
Contractual Consideration
One of the necessary elements to create an enforceable contract is consideration, which is based on the concept of a “bargained for exchange.” This means that both parties to the contract are getting something of value in exchange for giving something of value. Consideration is not always monetary. It can be anything of value,… Read More »
Elements of an Enforceable Contract
Whether you are purchasing a car from a dealership, or a vase from someone on Facebook Marketplace, all contracts have elements that must be met to be legally enforceable. A contract is a set of legally enforceable promises, entered by two or more parties, to make their dealings predictable and to prevent risk. For… Read More »
Operating Agreements for LLCs
With all business entities, there are certain documents that need to be drafted at the time the entity is formed. In a previous article, we discussed the importance of a shareholder agreement, which owners of a corporation, known as shareholders, should enter into at the time the corporation is formed. When forming a limited… Read More »
Federal Employment Identification Number
When forming a new business entity, there are several tasks that must be performed prior to operating the ne w entity. One of those tasks is applying for and obtaining a Federal Employment Identification Number (“FEIN”) for the new business. FEINs for businesses are analogous to social security numbers for individuals. FEINs are unique… Read More »
