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What Is a Purchase Agreement for a Business?
Litico Law Group

The process of selling or purchasing a business can be complex. While there are many legal documents that may be involved in the transaction, the terms, conditions, and provisions that go into a business purchase agreement are critical. Whether you’re the buyer or seller, a well-drafted purchase agreement can protect your interests, safeguard your legal…

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Attorneys’ Fees in Shareholder Oppression Cases
Litico Law Group

Shareholder oppression occurs when the majority shareholders or directors of a nonpublic corporation act in a manner that is oppressive, fraudulent, or illegal toward the minority shareholders. Such actions can be detrimental to individual minority shareholders and the company as a whole. In such cases, the aggrieved parties are afforded a number of remedies under…

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5 Things to Know About Challenging a Trust in Illinois
Litico Law Group

Trusts can be an effective way to bequeath property and assets to loved ones while avoiding the stress and cost of the public probate process. However, there may be instances where a trust might be challenged in court. If you are considering contesting a trust in Illinois, it’s essential to understand that there are certain…

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Steps To Take if Business Litigation Is Anticipated
Litico Law Group

During the course of doing business, disputes are not uncommon. Whether it’s a breach of contract, intellectual property matter, conflict between partners, or disagreement over finances, a commercial dispute can be time-consuming and costly. However, there are a few steps business owners can take if they believe litigation is anticipated. Take Immediate Action If you…

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Avoiding Legal Disputes Between Business Partners
Litico Law Group

Business partnerships can come with many benefits and help owners accomplish much more than they would as a sole proprietor. But partners will rarely agree on everything all the time, and business disputes are not uncommon. Unfortunately, when difficult scenarios arise, the company’s future and its bottom line can be placed at risk. It’s important…

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Challenging a Trust for Lack of Capacity or Undue Influence
Litico Law Group

A trust can be a powerful tool to safeguard a settlor’s assets and reduce tax consequences for their loved ones. While these instruments can ensure the settlor’s property is protected and their wishes are met, it’s important to understand that there are some instances where these documents might be challenged. Significantly, if a settlor lacked…

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Can You Sue Your Partner for Embezzlement in Business?
Litico Law Group

When people think of business theft — also referred to as embezzlement — criminal activity is usually what comes to mind. While embezzlement is typically a white-collar crime that can come with serious legal ramifications, including jail time and substantial fines, a business partner who embezzled or stole money can also be held civilly liable…

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