GET FINANCIAL RELIGION BEFORE PUTTING YOUR BUSINESS UP FOR SALE

There is no better time for small business owners looking to sell their closely held business. However, small business owners hoping to cash out can quickly discover that issues with their internal financials can become a roadblock to a successful sale. Disorganized or missing financial or corporate records can turn off potential buyers, who demand complete transparency when buying a business....Read More

Annual Sexual Harassment Training Now Required By Every Illinois Employer

On August 9, 2019, Illinois enacted the Workplace Transparency Act, which amends the Illinois Human Rights Act. This new law requires that all Illinois employers provide annual sexual harassment training to its employees. Effective January 1, 2020, all employers must train all employees in Illinois each year. The first deadline is January 1, 2021. The annual sexual harassment training program...Read More

Commissioned Sales Representatives In Illinois Have A New Friend

The Illinois Sales Representative Act states that a principal who fails to pay a sales representative is liable for the commissions, plus punitive damages up to 3 times the amount of the commissions owed, plus attorney’s fees. The Illinois Sales Representative Act is a little known law which states that a principal who fails to pay a commission to a sales representative is liable for the...Read More

Today’s Growth Consultant of Minooka, Illinois, Sued By New Zealand Investor

By: Lustig & Wickert CHICAGO – Dec. 24, 2019 – PRLog — NZQ Investments Limited, a New Zealand corporation, has filed a lawsuit against Today’s Growth Consultant, Inc., an Illinois corporation. The lawsuit was filed on December 20, 2019, in The United States District Court For The Northern District of Illinois as Case No. 19-cv-8346. The Complaint alleges that NZQ...Read More

Oral LLC Operating Agreements Are Now Enforceable – Be Careful

The Illinois Limited Liability Act was recently amended in ways that could adversely effect our clients who own an interest in an Illinois limited liability company. The amendment of most consequence is that an oral operating agreement is now binding on its members and managers. This means that two or more people may decide one day that they had orally entered into an operating agreement even...Read More