November 2015 Archives

Trends that impact today's commercial real estate industry

Those involved in the commercial property industry in Illinois may be aware that investors are increasingly including commercial properties in their investment portfolios. They may also recognize that there is a definite lag in the development of contemporary tools to manage these investments at the same level that other assets can be followed and managed. While the residential real estate sector features many apps and tools to address the needs of various individuals, those dealing in commercial real estate are just beginning to truly tap into the powerful benefits of contemporary technology.

Ways to start writing a business plan

Many people in Illinois start new companies each year. When they do, writing business plans is important to help increase the likelihood that the venture will be successful. Some prospective entrepreneurs fail to write plans because they think they are unnecessary, while others simply don't know how to start writing them or what to include.

The business planning process and business models

Many small business owners in Illinois are unsure where to begin when they are getting ready to write their business plans. Writing a business plan should be a carefully thought-out and systematic process that helps the owner identify strengths, weaknesses and future potential contingencies and how the company will deal with them.

What is due diligence in commercial real estate purchases?

"Caveat emptor" is Latin for "Let the buyer beware," and it used to be the rule of thumb for any purchase and sale transaction. Over time sellers have circumscribed the doctrine of caveat emptor increasingly to protect individual consumer purchasers against sharp dealing and other unfair practices. It largely remains in force, however, when it comes to business entities engaged in transactions with other businesses. Simple mistakes, unfounded assumptions, and inattentiveness that a court might let an individual consumer get away with will find a much less receptive audience if it is a business trying to use them as justification for why it should not be held to an agreement.

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