BEST PRACTICES OF CYBERSECURITY AND DATA PRIVACY IN M&A TRANSACTIONS
A merger is an exciting event. Perhaps the company you built from the ground up is being acquired, and you will have access to the resources needed to expand your vision. Or maybe you are merging with a competitor to achieve market dominance, or your hostile takeover was a success. You are...
HOW TO DRAFT A STRONG CONFIDENTIALITY AGREEMENT
A non-disclosure agreement ("NDA"), also referred to as a confidentiality agreement, is a legally binding contract that establishes a confidential relationship between parties. The parties signing the NDA agree that sensitive information pertaining to the other parties' affairs or business will not...
WHAT IS A SERIES LLC AND HOW CAN IT BENEFIT YOU?
A series LLC is a new, unique form of LLC established in Delaware in 1996. The framework and inspiration behind Series LLCs began with investment trusts, which have been used since the early 1990s to provide savings and efficiencies for mutual fund families. Using Series in investment funds allowed for the segregation...
ANALYSIS OF THE ILLINOIS CLIMATE AND EQUITABLE JOBS ACT
The Climate and Equitable Jobs Act, or SB 2408, is Illinois' ambitious state-level energy legislation signed into law by Governor J.B. Pritzker on September 15, 2021. Generally speaking, the law is a set of reforms and policies aimed...
BENEFITS OF SMART CONTRACTS
The past decade has ushered in a new era of transacting business virtually on decentralized networks known as blockchains. Blockchains started as the underpinning of virtual currencies, most notably Bitcoin, and have evolved to serve other purposes, such as allowing for the execution of smart contracts. Understanding smart contracts...
PICKING THE RIGHT CORPORATE STRUCTURE FOR YOUR CANNABIS BUSINESS
Determining which corporate structure is best for your cannabis business is completely dependent on your specific circumstances. There is not one corporate structure for a cannabis business that works better than others. The perfect entity choice for one company could be terrible for another operation.
Therefore, the best corporate...
PRACTICAL TIPS FOR FINANCIALLY FEARFUL BUSINESS OWNERS
Starting a business is exciting. Often, it can be an opportunity to turn your passion into a career. Along with the thrill of creating a startup, there are responsibilities that may be daunting, especially those that are financial in nature. Here are some tips for fiscally wary entrepreneurs on managing these essential...
PIERCING THE CORPORATE VEIL
In explaining what the term "piercing the corporate veil" means, we should start by looking at what the term corporate veil refers in order to get an idea of what we are piercing. One of the main reasons business entrepreneurs and owners...
ENSURING YOUR INDEPENDENT CONTRACTORS AREN’T RECLASSIFIED
What is the difference between an independent contractor or an employee? Are we just splitting hairs over what term to use when referring to workers? As it turns out, this is one of the most significant and most consequential distinctions in employment law, and...
WHAT IS THE CURRENT STATE OF GIG WORKERS? ARE THEY EMPLOYEES OR INDEPENDENT CONTRACTORS?
In recent years, and especially during the COVID-19 pandemic, many individuals and companies have envisioned an economy less reliant on the mundane 9-to-5 traditional employment relationship. The gig economy has emerged as an emancipating alternative, allowing individuals more freedom to create their own work schedules.
Companies throughout the country...