Many Illinois contracts contain a force majeure clause. French civil law is the origin of force majeure, but that many jurisdictions worldwide now use the concept. The purpose of force majeure The purpose of force majeure is to relieve certain parties of their contractual obligations in the event of extremely unexpected circumstances. You might hear this term used in situations dealing with commercial litigation. When does force majeure go into effect? An extraordinary event must occur before the force majeure clause goes into effect. If the parties involved are unable to fulfill the contract ..read more

In Illinois, business partners can have disputes for various reasons, and dispute resolution methods can materially affect the partners’ business relationship. In some cases, the partners may want to preserve their status and continue with the business while other scenarios may warrant one or both partners exiting the venture. There are a number of different ways to resolve disputes in different business scenarios. Preservation When you have a viable business and want to preserve the relationship with a business partner, a third-party mediator can foster healthy communication and productive di ..read more

It can be a nightmare for any company when a recently terminated employee serves them with notice of their intent to file a wrongful termination lawsuit against them. If this happens to your company, knowing the allegations that the lawsuit is likely to be based on can help you to prepare. Your employee’s likely allegations If you know that your employee is preparing to bring a discrimination lawsuit against you for wrongful termination, there are a few allegations that their suit is likely to depend on. There are both federal laws and Illinois state laws that prohibit employers from terminati ..read more

No one forms a business expecting that one of the partners will walk away. However, this happens all the time. One partner may have had enough and does not want anything to do with the business anymore. Sometimes, differences in business philosophy can lead to a split. When one partner is still invested in a company’s success, it can be a crushing blow when another partner abandons ship. This is especially true if the abandonment leads to business dissolution or failure. In general, partners are free to leave a business at any point, even if the ultimate result is the company’s closing. Howeve ..read more

Any business transaction’s success depends on the parties meeting their contractual duties. Unfortunately, sometimes one party agrees to do something but acts in a way that suggests otherwise. That party’s behavior can make it difficult for you to trust them and may jeopardize the venture’s success. Identifying the warning signs The following actions might suggest that your partner might back out of the deal. Therefore, you should take immediate measures to avoid potential losses, costs, or expenses that may come with the anticipatory breach. The other party expresses doubt about its ability t ..read more

Owning an Illinois business with a partner can be one of the most rewarding experiences. Unfortunately, sometimes, an internal dispute might arise. There are a few ways you can resolve things. Partnership agreement Although this is only an option for settling partnership disputes before they happen, a partnership agreement can keep things on an even keel. It’s a legal document that should be created while you and your business partner are still on the same page. The agreement can include terms by which all parties abide in the event of a future dispute. Mediation Mediation is a good way to res ..read more

Tortious interference in Illinois is a type of tort that involves an interference with a business contract. A plaintiff files a claim against a defendant who intentionally undermines a contract or business relationship and causes economic damages. The tort of contractual interference A breach of contract is one of the most common types of business torts, which is an intentionally wrongful or negligent act that is committed against a company. Tortious interference is a tort that occurs when an individual or company interferes with another’s contract or business relationship for the purpose of c ..read more

While you may consider yourself a good business partner, you never know what kind of situation in which you might find yourself. Partnership disputes can arise for many different reasons, so preparing for the worst-case scenario is essential. This article will discuss three ways you can deal with a partnership dispute if it arises. Have a written agreement People often lament not having an umbrella when it rains – the wise prepare in advance for the downpour.  The most crucial step to avoid a dispute is having a written agreement before trouble starts. A well-drafted written partners ..read more

There’s a lot that goes into running a successful business. You probably have some sensitive information about your processes, recipes, designs or clients that would ruin or seriously harm your business if it were to fall into the hands of a competitor. With employee turnover, how do you minimize the chances of one of your ex-employees bringing your proprietary information with them to a new job? Non-disclosure vs non-compete agreements Non-disclosure agreements often go hand in hand with non-compete agreements, and employers often have new employees sign both kinds of agreements upon hiring t ..read more

Hundreds of thousands of new companies are started each year, and between 30% and 40% of them fail. In other words, between 30% and 40% of new small businesses are liquidated and the investors lose all or most of their money. If you define failure as failing to reach the projected return on investment, 80% of new small businesses fail, according to Harvard Business School. And that is during normal times. Failure of some kind is virtually inevitable, but it can be the path to ultimate success. Whether it will be depends in part on whether you exit your failing business relatively unscathed. Th ..read more