Derek P. Usman, The Usman Law Firm, P.A. After making the decision to dispose of a corporation, entrepreneurs and business owners should consider tax
Derek P. Usman, The Usman Law Firm, P.A. The statutory provisions providing limited liability to shareholders of Illinois business entities were undermined recently when
Derek P. Usman, The Usman Law Firm, P.A. While public corporations thrive on share trading in a dynamic market, private corporations often seek to
Derek P. Usman, The Usman Law Firm, P.A. Shareholders of a corporation taxed under Subchapter S of the Internal Revenue Code may elect a
Derek P. Usman, The Usman Law Firm, P.A. Foremost, a capital interest is a share of the value of partnership assets. Each partner has
Derek P. Usman, The Usman Law Firm, P.A. “MINIMUM” GAIN ARISING FROM PARTNERSHIP NONRECOURSE DEBT Section 702(a) provides a list of items arising from
Derek P. Usman, The Usman Law Firm, P.A. Effective January 1, 2007, amendments to the Illinois Business Corporation Act now provide a more precise
Derek P. Usman, The Usman Law Firm, P.A. A shareholder may initiate a direct action lawsuit against a corporation to redress an injury inflicted
Effective July 1, 2011, changes in the Act create new statutory Power of Attorney (POA) forms for property and healthcare. A Power of Attorney is
Within the context of litigation, electronic discovery (e-discovery) refers to discovery of information in electronic format. Information preserved in electronic format often contains metadata, which
A written document to memorialize terms of an agreement between two or more persons minimizes confusion and possibility of litigation. Even though an oral agreement
Since tax considerations are of utmost importance in choosing an entity form, entrepreneurs should determine the advantages of beginning their business as a LLC. In
Section 2-616 of the Illinois Civil Practice Law provides for amendments to pleadings on just and reasonable terms before final judgment. Loyola Academy v. S
