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Latest from Gierach Business Law Blog

Family-owned businesses are, for many, embodiment of the “American Dream.” Opening a company with the intention of passing it down for generations to come can be both exhilarating and highly profitable. There are, however, certain events that could throw the proverbial wrench into the gears of your long-term plans, and some are not even business- or industry-related.
As a business law attorney, I understand that a divorce between spouses who own or run a business together can be spell major trouble for the company. Due to the complex nature of the proceedings, it is important to have the advice
Continue Reading How a Divorce Can Affect Your Family Business

Entrepreneurial inventors are part of a unique class of small business owners. Not only are they responsible for the creation of the product that they sell, but often they must take care of the front-end business management responsibilities and costs. Though an individual may have a brilliant idea, getting the idea turned into a tangible and marketable product can cost a lot of money and take years to come to fruition.
As a small business law attorney and business owner, I understand the struggles that many entrepreneurs face. To that end, I have a few tips for small business entrepreneurial
Continue Reading Protecting Yourself as an Entrepreneurial Inventor

Have you ever thought of a unique product or service that might provide the basis for a profitable business? Or maybe, you observed the manner in which an existing company offers a particular product or service and thought you could dramatically improve on it. No matter where the creative spark is born, an idea for a product, service, or new company must be carefully analyzed and researched before jumping with both feet into full-scale sales. Along the way, a qualified business attorney can help you identify and address potential concerns, leaving you free to focus on developing your concept.
Continue Reading 4 Tips for Creating a Winning Business Idea

No matter what your chosen industry may be, your customers or clients represent the very reason for your company’s existence. If there was no one to buy your products or services, offering them would be completely pointless. For many business owners, including a large number of my clients, offering world-class customer service is a top priority, which helps to build client relationships and improve customer satisfaction. When a customer relationship sours, however, it can be very easy to take the situation personally, especially if the customer takes his or her concerns to the internet. It is important to understand
Continue Reading Keep Negative Online Reviews in Perspective

For a first-time business owner, the prospect of buying a business can be quite overwhelming. You may not be certain where to start, what to do next, or even if you are making the right choice. That is why it is so important to work closely with an experienced business lawyer. A knowledgeable attorney can help you ensure that you have considered all of the necessary details and put in the best position for long-term success. As you consider your options for buying a business, there are very important things you should be keeping at the forefront of your mind.
Continue Reading 3 Important Considerations for Those Considering Buying a Business

Brand development and recognition are crucial components of any successful business. For many business owners, building a recognizable brand involves creating visually appealing logos, insignias, or other images that current and prospective customers can associate with you and your products. These images can legally be linked to your brand by securing trademark protections afforded by the federal government.
Sometimes, however, another individual or company will create a logo or image that is similar enough to yours that create customer confusion regarding the two brands. Legal action may be necessary to clear up the potential confusion, and such action sometimes takes
Continue Reading How Can I Protect My Trademark From Dilution?

When you own a successful business, you have a number of options regarding how to keep your company growing. You could create an outlet for internet sales, expand your current physical location or open a second one. If you already have several locations or you believe that the day-to-day operations of multiple sites is not something you are interested in doing, you may want to consider franchising your business. Franchising may be an especially attractive idea if you have established your company’s name a local or regional leader in your industry.
In my practice as a business planning attorney,
Continue Reading Growing Your Company: Is Franchising the Next Step?

Building a successful business requires you to invest tremendous amounts of time, energy, and money, often at great personal sacrifice. It is understandable, and even admirable, that you would wish to protect those investments in every way possible. For this reason, you may be considering having some or all of your employees sign a non-compete agreement so they cannot take what they have learned from your company and use it in competition against you for a period of time following the end of their employment with you. I am asked about non-compete agreements on a regular basis in my practice,
Continue Reading Should I Have My Employees Sign a Non-Compete Agreement?

Are you tired of working hard so that someone else can earn a few extra dollars in profit? Would it not be more gratifying if your extra hard work resulted in more money in your own pocket instead? Almost everyone who has ever punched a clock has dreamed of opening his or her own business one day, yet only a small percentage ever take the leap and make their dreams a reality.
In my practice as a business law attorney, I have helped hundreds of prospective business owners objectively analyze their situations to determine if starting a new company would be
Continue Reading Should I Open My Own Business?

When you own a company, you have probably invested a great deal in the products or services that you offer. Similarly, hiring, training, and professionally developing a team of employees requires significant investment as well. Across the country and around the world, however, employee theft and fraud present serious problems for small business owners, collectively costing companies billions of dollars. As a business law attorney, I understand the impact the actions of your staff can have on your business and my team can help you develop a strategy for deterring employee theft before it becomes a major issue for
Continue Reading 4 Tips on How to Prevent and Deter Employee Theft

Rationally, you know that you will not be able to continue running your business forever. Depending on your age, health, and passion for your work, you may be ready to step away from day-to-day operations sooner than later.
As an accomplished business law attorney, I have helped hundreds of clients start new companies with the hopes of being financially successful. From the very beginning, I encourage every aspiring entrepreneur to go into the process with a plan for getting out. Without an exit strategy, you could be leaving far too much to chance.
Three Possible Options
Thinking about how
Continue Reading Why You Should Develop an Exit Strategy from Your Business

If you are an entrepreneur, you are considering building your own startup, or you would like to change your business’s structure, you should know the options available to you. There are a number of different business structures from which you can choose, but they may not all be the right fit. You should select your business entity after looking at the size of your business, the number of owners and partners, the goals for your company, and what you want your future to look like. While it is important to do your own research, it is always best to discuss
Continue Reading Which Business Entity Is Best for My Illinois Company?

There is often the false assumption that landlords are unreasonable and unforgiving, kicking their tenants out at the first sign of a late rent payment. These businessmen and businesswomen get a bad rap for taking legal action against their tenants, yet many forget that landlords are dependent upon their tenants’ rent money to make ends meet. This is an evident issue going on throughout Illinois since COVID-19 first made its mark. Since society essentially shut down for the past few months, many people were left unemployed and unable to pay their rent, including businesses. To avoid thousands of Illinois residents
Continue Reading Can I Evict a Commercial Tenant Who Fails to Pay Rent in Illinois?

Mom-and-pop stores and restaurants have been the foundation of the United States since the country’s origin. Many Americans pride themselves on their work and ability to support their families, with additional fulfillment given to those who do this by running their own business. In the best-case scenarios, family businesses will be passed down from generation to generation. While it may seem straightforward to hand your business off to one of your children, you should still have a plan set in place so that things transition smoothly and your business remains intact. This is known as a business succession plan,
Continue Reading Does My Family Business Need a Succession Plan?

When starting up a company in Illinois, you will research various formation options available under state law and do your research to find the right fit for your business. Many in your position lean towards a corporation because of the benefits it offers, both for owners and the entity. However, you may not realize that there are distinct types of corporations that can provide additional advantages from a federal income tax standpoint. One is the S Corporation, often referred to as a “flow-through” entity for how profits and losses are distributed among owners.
It is essential to get your business
Continue Reading Reasons to Form an Illinois S Corporation

Because every business is unique, every deal involving a purchase or sale will bear numerous, distinct details that need to be addressed from a structuring point of view. Still, there are just three basic options for buying or selling a business: Stock purchase, asset acquisition, or a merger of the companies. The Illinois Business Corporation Act contains many provisions regarding the requirements, but there is little information on why you would choose one alternative over another.
You can trust an Illinois business law attorney to handle the details since negotiations can be challenging and you will need to account for
Continue Reading Options when Buying or Selling a Business in Illinois