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Companies that use non-compete agreements and restrictive covenants should be familiar with several recent changes that occurred in Illinois law. While the Illinois Freedom to Work Act previously only applied to non-compete agreements for low wage workers earning less than $13 per hour or minimum wage, a new amendment has created a higher compensation threshold.…

Most business transactions are solidified with a contract that specifies the terms agreed upon by the parties. It’s crucial that parties act in good faith when entering into an agreement — whether it be documented in writing or verbally. Unfortunately, it can sometimes happen that a party makes a false or misleading statement to induce…

Breaches of contract are some of the most common business disputes that can arise. Since agreements are central to every business transaction, nearly every entrepreneur will face this type of claim at some point. Putting an agreement in writing is crucial to outlining the parties’ responsibilities and obligations, but it doesn’t always guarantee that a…

In business litigation, monetary damages do not always address the full extent of a plaintiff’s damages. Illinois courts may award equitable remedies in lieu of — or in addition to — a legal remedy. Although a legal remedy may be appropriate to address the financial harm suffered by a plaintiff, an equitable remedy can compel…

Fraud can have a serious impact on your business and its bottom line. It can cause owners and investors to lose millions, injure the reputation of the company, and devalue the business. Whether the fraud was carried out by another business, a vendor, a business partner, or another party, the ramifications can be long-lasting and…

When partners start a business together, they have the best intentions — and rarely expect conflict to arise. Unfortunately, there are many reasons partnership disputes can occur during the course of doing business. Differences of opinion, misconduct, or a partner’s disregard for their obligations are all situations that can place a business in jeopardy. If…

There are many situations in business that involve a fiduciary duty. These types of relationships may arise between directors, officers, controlling shareholders, and with any party that has an obligation to act in the best interests of another. If this duty is breached, the injured party may incur considerable costs and suffer reputational harm. However,…

When a party enters into a business deal with another individual or company, it’s always best to have an enforceable contract in place. But in cases where a written agreement does not exist — or a contract is not legally enforceable for some reason — damages may still be recoverable if a party refuses to…

In business, directors, officers, and controlling shareholders owe each other and the corporation certain duties. This means that they are trusted to act in the best interests of the company when making business decisions and carrying out transactions. However, officers, directors, and other fiduciaries may sometimes fail to act in the best interests of the…

A breach of contract is a common business dispute that can cause your company to suffer significant economic harm. It can also have a devastating impact on your company’s reputation and future. Unfortunately, it often happens during the course of doing business that a party fails to uphold their contractual obligations — either intentionally, accidentally,…