I was told that I was a partner and would start seeing a return on the investment and was manipulated into giving money. I need to know my options as far as if I can recover some of my money back or if there's any alternatives that would allow me to get out of this business venture.
answered on Aug 3, 2023
The facts you stated may give rise to a cause of action for common law fraud and statutory fraud, pursuant to the Illinois Fraud and Deceptive Practices Act. You may be entitled to obtain an award of your actual damages and for the attorney's fees and costs you incur.
You may also... View More 
Back in 2002, I signed a "Employee Non-Competition and Confidential Information Agreement" with my employer, which is a tire dealer. In 2004 I resigned from this company and worked for a another company about 25 miles away from my previous employer that I resigned from. It was also a tire... View More
answered on Apr 19, 2023
To answer with 100% certainty, an employment lawyer would need to review the terms of the original agreement. However, most non-competitive agreements are valid for a two year period. Given that the document is now more than twenty years old, it is likely unenforceable. Again, for absolute... View More
Back in 2002, I signed a "Employee Non-Competition and Confidential Information Agreement" with my employer, which is a tire dealer. In 2004 I resigned from this company and worked for a another company about 25 miles away from my previous employer that I resigned from. It was also a tire... View More
answered on Apr 16, 2023
Short answer: No. An employer cannot unreasonably stop you from making a living. Generally, if you sign a Employee Non-Competition and Confidential Information Agreement, it is valid for no more than two years. I have yet to hear of any Court enforcing such a document if it states in the... View More
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answered on Mar 2, 2023
If you believe that your lender has incorrectly applied a payment to the principal without properly bringing down the balance, you should contact your lender directly to discuss the issue and request an explanation. It is possible that there may have been a mistake or a misunderstanding that can be... View More
I have published newsletters previously, The previous management company's provided the mailing list. The current management company will not. Am I entitled as a owner, to the home-owner mailing list for that particular purpose?
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answered on Mar 2, 2023
The answer to this question will depend on the specific rules and regulations of your condominium association. Typically, condominium associations are governed by bylaws and regulations that outline how the association operates, including how information is shared and distributed to unit owners.... View More
A reputable online fashion brand
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answered on Feb 25, 2023
Yes, there are legal requirements that you need to consider when starting an online fashion brand. Here are a few important steps to take:
Choose a business structure: You will need to decide on a legal business structure for your brand, such as a sole proprietorship, LLC, or corporation.... View More
Lease and rent are current and up to date.
answered on Jan 23, 2023
This seemingly is a landlord-tenant issue. However, as a practical matter for business, if you have already signed a lease and been in it for 3 years, this appears to be out of their right to request.
However, I can see it making sense in two scenarios: if you have fallen behind and there... View More
I am wondering about legal protection and how it works with legal issues. If an issue surfaces and you have multiple LLCs do they all get called into court since your name as a member is on all of them - is there really any more legal protection with a LLC vs ones that already exist?
answered on Dec 23, 2022
No, the LLCs are separate, if you have kept them separate with different bank accounts, addresses, etc.
If your new product can be protected because of its new process (it does something that no other product does) perhaps your protection is not from the type of structure but in... View More
Our school usually operates by training grants or direct training paid by other agencies training grants. Students rarely pay for tuition themselves. We serve low skilled, low-income individuals. It is a main part of the services we provide (especially as we pursue programmatic grants with... View More
answered on Dec 11, 2022
To answer your first question, "can a nonprofit operate a for-profit," there is nothing that prohibits this and it happens fairly frequently. Depending on the details, the for-profit enterprise can be a wholly- or majority-owned subsidiary of the nonprofit. You will want to be very... View More
Know All Men By These Presents, That I/we the undersigned, for the sole and only consideration of One Thousand Seven Hundred and Nine 50/100 (1,709.50) paid to me/us in hand by ABC Corp, the receipt whereof is hereby acknowledged, hereby release and discharge, and by these presents do hereby... View More
answered on Nov 26, 2022
It seem like ABC corporation wants to pay you $1,709.50 for a release and discharge for some damaged they caused you. This release is a legally binding agreement used to protect ABC Corporation from having you bring further legal action against them for a number of reasons. They want to close... View More
Business site
answered on Oct 30, 2022
A properly drafted construction agreement should have termination provisions. Start by reading the contract and be aware of your notice and termination obligations. Any contract case requires that you show offer, acceptance, consideration, duty, breach and damages. Remember that in the case of... View More
business. Business has been around for 37 years. We want to apply for 501c3 status to diversify our income and open up our services to more contracts and help more people. Currently, mostly are federal grants and we haven't earned profit in years.
answered on Sep 13, 2022
This may be easier than you think. If you want to convert a profit corporation to a non-profit organization all you need to do is complete Illinois Form EOA 205 (provided by the Illinois Secretary of State- a one page form) and send two copies of the completed form to the Secretary of State with... View More
business. Business has been around for 37 years. We want to apply for 501c3 status to diversify our income and open up our services to more contracts and help more people. Currently, mostly are federal grants and we haven't earned profit in years.
answered on Sep 14, 2022
You will almost certainly need to re-draft your Articles of Incorporation if you want to convert from a for-profit corporation to a not-for-profit corporation.
First, under Illinois law your new not-for-profit is required to have, as its purpose, one of the allowable purposes listed in the... View More
I am creating a product (a stand for giant marquee letters) for my company that uses someone else's patented magnet as a component. What type of copyright/patent permissions, if any, do I need from the magnet company?
answered on Sep 11, 2022
I agree with Attorney Michael Ray Smith. First, contact the company/person who owns the patent. You can find the owner at www.uspto.gov.
Once you contact the owner, enter into a dialogue that you are interested in his patent. You can make an
offer to buy it, or you can enter into... View More
I am creating a product (a stand for giant marquee letters) for my company that uses someone else's patented magnet as a component. What type of copyright/patent permissions, if any, do I need from the magnet company?
answered on Sep 10, 2022
Note that I am not licensed in Illinois, and that none of the answers to questions in this forum should be considered legal advice.
You may need a license from the company that owns the patent and any other intellectual property rights, but maybe not if you simply buy the other... View More
What would I need in order to open a taco truck and sell food.
answered on Aug 26, 2022
The first thing you need is a lawyer. You need a lawyer that represents small business who can guide you through the hurdles of setting up an LLC, obtaining permits and licenses, and all the stuff that goes along with being in business.
Good Luck
d
my company name in Illinois is also the name of a company in another state. any recourse?
answered on Jan 25, 2023
The issue is the infringement of a trade name. Is your name registered with the USPTO? or anywhere? Is their name registered? If not, you need to get registered, if possible. There are some issues. However, there are some claims for rights that are common law. You may need a legal consultation.... View More
We are hiring truck drivers for our company and want to hold $125 week out of their pay (for repairs or abandonment) until they hit $1,000- $3,000k. Would this have to be in a escrow account? The money will be in the account for the duration of their employment.
answered on Aug 11, 2022
Corp account escrow or not? Can you provide some details on the issue?
Was the court ruling correct or incorrect
answered on Aug 2, 2022
Good day, thank you for sending us the question but can you give us more specifics?
The business (A clothing company) didn't generate any profit and we have agreed to dissolve the series LLC, Web P, social media page etc, but it does leave us with the IP of the designs that we independently created.
Neither of us were paid employees or hired to create our own designs... View More
answered on Feb 2, 2022
There are several factors here, and a thorough review of the LLC and Operating Agreement would be needed, as well as a full understanding of exactly how and when each design was created. I’m an IP Attorney, and would be happy to have a free consultation and see how I can help your legal needs.... View More
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