November 25, 2014

Employers Cannot Ask About Criminal History on Job Applications

Employers Cannot Ask About Criminal History on Job Applications Starting January 2015, a new Illinois law will prohibit criminal history questions on job applications. Beginning in January, employers of 15 or more employees won’t be allowed to require prospective employees to disclose their criminal history on a job application.  The “Job Opportunities […]
November 25, 2014

U.S. Department of Labor Reclassifying Interns as Employees

U.S. Department of Labor Reclassifying Interns as Employees If you are using “interns,” they may be reclassified as “employees.” Beware the U.S. Department of Labor is investigating and prosecuting small businesses, and David Letterman, for failing to pay minimum wage and overtime to interns. There are some circumstances under which […]
November 25, 2014

Seventh Circuit Invalidates Franchise Arbitration Provision

Seventh Circuit Invalidates Franchise Arbitration Provision One-sided arbitration provisions may now be unenforceable in Illinois. It is commonplace for franchise agreements to contain a dispute resolution provision requiring a franchisee to pursue claims against a franchisor through the use of private binding arbitration, as opposed to the judicial court system.  However, the […]
August 21, 2014

Legal Dictionary—Non-compete Agreement

What is a “non-compete agreement”? Non-compete agreements are contracts in which one party agrees not to compete in the marketplace against another party. Although most often seen in the employment context, non-compete agreements also often appear as part of buying and selling a business. In Illinois, courts generally start from […]
July 4, 2014
Happy Independence Day!

Happy Independence Day!

Happy Independence Day! Celebrate Independence Day with Lofgren & Wentworth, P.C. In honor of the Fourth of July, Rick and Charles are offering a free one-hour consultation in July for anyone looking to gain some “independence” in their work.  Come by and talk with us about your non-compete agreement, a […]
May 20, 2014

L&W Successes and New Matters

Lofgren & Wentworth, P.C.’s attorneys have been hard at work. Here are recent matters Rick and Charles have been handling: Rick and Charles established multiple new corporations and limited liability companies for clients starting businesses in the massage, insurance, actuarial, and real estate industries. Charles obtained summary judgment for his client, resulting […]
May 20, 2014

L&W Attorneys to Discuss Hidden Tax Issues

L&W Attorneys to Discuss Hidden Tax Issues April is over, but taxes never go away. On Thursday, June 12, Rick and Charles will be speaking from 8:00 to 10:00 am at a presentation hosted by Precision Payroll of America LLC on various things you may not realize your business is doing (or […]
April 1, 2014

L&W Celebrates Its One-Year Anniversary!

L&W Celebrates Its One-Year Anniversary! One year ago today Rick and Charles joined forces to form Lofgren & Wentworth, P.C. Thanks for helping us make this a successful and productive year!  Send Rick and Charles an email to congratulate them!.   If you liked this post, follow us on Facebook and Twitter, and sign […]
April 1, 2014

Legal Dictionary—Terms

What are “terms”? Every business deal has layers of terms, some of which are more important than others.  We like to call these layers the boulders, rocks, and the sand. Boulders are the biggest terms, the deal breakers.  Often times these are non-negotiable. Rocks are the next level in.  They […]
April 1, 2014

Legal Dictionary—Letter of Intent

What is a “Letter of Intent”? A Letter of Intent, or term sheet, outlines the basic terms of a business deal, making sure the parties understand generally what it will look like and forcing them to think through what the deal breakers are.  It doesn’t do anyone any good to […]
March 28, 2014

Legal Dictionary—Assumed Name

What is an “assumed name”? An “assumed name,” “dba,” or “doing business as” is a name that an individual or an entity uses to do business separate and apart from their official or legal name.   In Illinois, individuals must register an assumed name with the county in which they are […]
March 12, 2014

L&W Attorneys to Speak at Local Community Events

L&W Attorneys to Speak at Local Community Events Come hear Rick and Charles speak about entrepreneurship. Rick Lofgren and Charles Wentworth will be speaking at various locations in the next few weeks.  Come out to hear them! March 12:  Rick will speak to the Entrepreneurship Club at the College of […]
March 10, 2014

April is Spring Cleaning Month at Lofgren & Wentworth!

April is Spring Cleaning Month at Lofgren & Wentworth! In honor of the apparent winter thaw, The Law Office of Lofgren & Wentworth, P.C. is making a special “spring cleaning” offer to its clients, as well as members of The Exchange Club of Naperville and the Glen Ellyn Chamber of Commerce.  As […]
February 19, 2014

Legal Dictionary—Joint Venture

What is a “joint venture”? A joint venture is formed when two or more people or entities join forces to undertake a common and defined business opportunity.  Illinois courts consider the following things in determining if a joint venture exists:  (a) whether the business owners have a common purpose in […]
February 10, 2014

Buying a Business

Buying a Business What happens when business owners “fall in love” with each other? Business relationships are like personal relationships—they often start with people being enamored with each other. But just as it is generally not a good idea to run off and elope with someone after the first date, […]
February 10, 2014

Legal Dictionary—Professional Corporation

What is a “professional corporation”? In our last post, we discussed the importance of the corporate shield or veil, and how it can limit the liability for shareholders, officers, and directors. There are some instances, however, where those individuals will have personal liability no matter whether they are incorporated or […]
February 10, 2014

Legal Dictionary—Corporate Shield

What is the “corporate shield” or “corporate veil”? The “corporate shield” or “corporate veil” is the idea that the shareholders, officers, and directors of a corporation will not be held personally liable for the actions of the corporation.  It is also available to some other types of entities, such as […]
January 21, 2014

Legal Dictionary—Fiduciary Duties

What are “fiduciary duties”? Certain positions that individuals hold cause them to have a responsibility to others to act in their best interests, to look out for their financial well-being, and to otherwise deal fairly with them.  These responsibilities are called “fiduciary duties.” Fiduciary duties can be as a result […]