November 2014 Archives

Steps to create a valid contract in Illinois

Many years ago, it may have been possible for parties to honor the terms of a handshake contract. However, it is now assumed that a contract that is not in writing may not be enforceable. In many cases, a contract dispute that does not involve a written agreement may be particularly difficult to enforce.

The difference between LLPs and LLCs

Illinois business owners who are deciding whether it may be time to incorporate might be surprised to learn there are many options available to them. Limited liability companies and partnerships are two choices. Learning the nuances of each may make the decision easier.

The different types of company mergers

Many Illinois residents may be familiar with the business term company merger but have little knowledge regarding the different types of these mergers. In essence, there are five: conglomerate merger, horizontal merger, vertical merger, market-extension merger and product-extension merger. Each type denotes a specific economic function, purpose for coming together and relationship shared by the combining entities.

Understanding zoning ordinances in Chicago

Chicago real estate developments must comply with specific ordinances in order to ensure that the goals of the city are maintained. These goals include ensuring that there is review of proposals for major development, promoting development patterns that are to the economic benefit of the city, protecting natural resources and encouraging unified development and allowing flexibility so that creative building and urban designs are implemented.

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