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November 6, 2013
Do-It-Yourself Contracts No. 1 Being an entrepreneur often means doing things yourself. But it doesn’t mean doing them badly. For the past 20 years, Fred had run his own software company. Like any good small-business owner, he wore many hats—HR department, payroll processor, accountant, and chief technical officer, to name a […]
November 6, 2013
Trusts No. 1 Just adding your children to the title on your home could have dire consequences. Mary was a widow with two grown children—Fred and Jane. Her only significant asset was her home, which had no mortgage and was valued at $350,000. Fred lived in Wheaton. Mary had heard […]
November 4, 2013
What is a “corporation”? A corporation is a legal entity that can own property, enter into contracts, employ people, and otherwise transact business. In Illinois, the rules that govern corporations are found in the Business Corporations Act. The Secretary of State authorizes the corporation to exist by approving the articles […]
November 4, 2013
Illinois Mechanics Liens If you’re not careful about how you pay your contractors, you could end up paying twice. Tom had been working for many years as a machinist, and wanted to open his own shop someday. He had finally saved enough money to buy a small building and the […]
November 4, 2013
ELR Open House a Great Success! Thanks to everyone who came to the open house for The Entrepreneur’s Legal Resource on October 22. It was great to see all our friends, neighbors, and clients. We announced our Small Business Month special for members of the Glen Ellyn Chamber of Commerce. […]
October 15, 2013
Protecting Your Illinois Business Running a business as all about building and maintaining strong business relationships. But business owners sometimes fail to give the proper attention to the use of “standard business terms” in their contracts. In fact, often times, “standard business terms” are disparagingly referred to as merely “boiler plate” […]
October 12, 2013
November Is Small Business Month at Lofgren & Wentworth! In honor of Small Business Saturday on November 30, 2013, The Law Office of Lofgren & Wentworth, P.C. has declared November “Small Business Month” for members of the Glen Ellyn Chamber of Commerce. As part of The Entrepreneur’s Legal Resource, we […]
October 7, 2013
ELR Open House on Tuesday, October 22, 2013 Lofgren & Wentworth, P.C. will be hosting a Business After Hours on Tuesday, October 22, 2013, from 5:00 to 7:00 p.m. Come by our office to meet Rick Lofgren and Charles Wentworth, and to learn more about The Entrepreneur’s Legal Resource(SM) and our […]
September 19, 2013
Illinois’ First Appellate District appears to change the rules for non-compete agreements. Small businesses routinely use non-compete agreements to lock down key employees and keep them from competing against their employers later on. When drafted and executed properly, those agreements can be very useful tools for protecting your company’s client […]
September 18, 2013
Robbing Peter to Pay Paul Comingling funds can have broad repercussions. Mary owned two small businesses. Through one she sold small trinkets and other novelty items. Through the other she was an event planner, helping people put together wedding and baby showers, as well as birthday and other kinds of parties. For various […]
September 18, 2013
Regulatory Bear Trap Be sure your marketing plan doesn’t run afoul of government regulations. Joe was a successful entrepreneur. He ran a small business out of his home, connecting businesses that had too much inventory with people who needed the excess product. After finding someone who needed product Joe knew […]