Illinois Business Law Journal
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The IBLJ's twin goals are to provide readers with information and analysis on recent developments at the intersection of business and law and to give authors a creative and analytical outlet for legal areas that interest them.
Illinois Business Law Journal
2M ago
An Article by Joe Jeffery
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Illinois recognizes two types of torts to remedy an actor’s interference with a party’s business relationships: tortious interference with contract and tortious interference with prospective economic advantage.[1] Whether interference with an at-will contract is more appropriately remedied under the interference-with-contract tort or the interference-with-prospective-economic-advantage tort is a distinction with a significant difference. Determining which tort applies may be critical to the outcome of a dispute because the two torts pro ..read more
GUARDING THE AMERICAN DREAM: RESTRICTING INSTITUTIONAL ACQUISITIONS TO PRESERVE FAMILY HOMEOWNERSHIP
Illinois Business Law Journal
2M ago
A Note by Kyle Laird
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Since the real estate market collapse of 2008-2009, the American housing market has seen a plethora of changes.[1] Cost of living has skyrocketed, making the American Dream unattainable for many.[2] Cost of living has risen for a multitude of reasons, including high interest rates, housing price influxes, and new market competitors.[3] Homeownership is essential for building wealth and a retirement: families can build equity through the gradual price increase, tax deduction incentives, and capital gains exclusions on sales, setting up generatio ..read more
Illinois Business Law Journal
2M ago
A Note by Elsie Layman
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On January 12, 2024, the U.S. Department of Health and Human Services (HHS) released a review addressed to the U.S. Department of Justice’s Drug Enforcement Administration (DEA) that recommended marijuana (Cannabis sativa L.) be rescheduled from Schedule I to Schedule III of the Controlled Substance Act.[1] The unredacted recommendation was released as a result of the effort of Matthew Zorn, who filed a Freedom of Information Act complaint against HHS in September 2023.[2] Zorn announced the recommendation would be released on January 11, 202 ..read more
Illinois Business Law Journal
2M ago
A Note by Anastasiia Cheban
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Over the past several years, the Illinois’ Biometric Information Privacy Act (BIPA) has expanded in scope and other states have adopted similar acts.[1] BIPA requires businesses and private entities that collect any biometric information from individuals to disclose that collection.[2] The act prohibits collecting, capturing, purchasing, or obtaining an individual’s biometric information without a written disclosure of the nature of the collection.[3]
Other states have also been influenced by Illinois’ legislation on the collection, rete ..read more
Illinois Business Law Journal
2M ago
A Note by Reilly Alridge
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The Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strikes of 2023 sparked major controversy over the use of generative artificial intelligence (AI) in the entertainment industry.[1] Writers have fears of AI being used to take over their script-writing jobs and reduce their bargaining power for pay.[2] Actors have fears of AI being used to replace the work of background actors and using their scanned body images posthumously without permission from the actor or the acto ..read more
Illinois Business Law Journal
2M ago
A Note by Jessica Bury
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In 2021, the global dietary supplement market was worth USD 149 billion, and was projected to grow to USD 240 billion by 2028.[1] The U.S. alone was responsible for approximately thirty-two percent of the market.[2] This growth is attributable to a variety of societal changes including increased concerns over healthcare costs, skin health, shifts in lifestyle choices, celebrity endorsements, fears about immune system health resulting from COVID-19, greater self-care awareness, and sports and fitness trends.[3] Although supplement use within A ..read more
Illinois Business Law Journal
2M ago
A Note by James Zhang
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The year of 2023 has seen the lowest level of M&A activity in over a decade, since the period after the 2008 global financial crisis.[1] Inflation, rising interest rates and fear of a recession halved Global M&A deal values to $2.5 trillion USD from their peak of more than five trillion dollars in 2021.[2] In the midst of such difficult situations, increasing regulation scrutiny has cast yet another shadow over the flickering future of the M&A market.
On December 18, 2023, the U.S. Department of Justice (DOJ) and the Federal Trade ..read more
Illinois Business Law Journal
1y ago
A Note by Lee Walter
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Over the past several months, advanced machine learning algorithms called “large language models” (LLMs) have led to the creation of a variety of AI-powered legal software services.[1] LegalZoom leverages a simple LLM to interpret user responses to online questionnaires and generate boilerplate forms for estate planning and new business registration.[2] EU-based LegalAi uses the technology to provide prelitigation assessments of lawsuit validity to consumers.[3] And Casetext provides document drafting and review for attorneys.[4 ..read more
Illinois Business Law Journal
1y ago
A Note by Jabari Turner
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Millions of Americans were stuck in their houses during the COVID-19 pandemic.[1] The rising death tolls, financial insecurity, and growing uncertainty increased anxiety, depression, and a surge in emergency department visits for mental health conditions.[2] Federal and state-level licensing alongside permit waivers, allowed many Americans needing mental health care, access to telemental health services.[3] As a result, Americans used their health insurance to access more options in and out-of-state that were unavailable befor ..read more
Illinois Business Law Journal
1y ago
A Note by Zack Stutler
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Technology’s growth over the past decade has permeated all aspects of life.[1] Financial markets have not been isolated from this increasing digitization.[2] More specifically, the introduction of digital assets (crypto-currency, non-fungible tokens, etc.) has taken the world by storm.[3] With the introduction of new assets comes the need for new regulations. While consumer regulations are important, so too are regulations on companies and how they report their ownership of digital assets.[4]
Regulations on companies are import ..read more