Business Law- Formation of New Ventures , Enterprise

The field of business law literally refers to the formation of new ventures and the various issues arising as these ventures interact with the society, other enterprises, the state, and other entities. Business law is actually a combination of different legal fields such as corporate, property, employment, commercial law, insolvency, commercial disputes, and Intellectual property laws. Therefore, the business law attorney in Chicago can be regarded as the representative of the interests of the business community as a whole. The lawyer has a key role in the formulation of business strategies, information systems, acquisitions, mergers, divestitures, management, budgeting, marketing, advertising, distribution, and product business attorney in Chicago, Illinoisdevelopment. Furthermore, the lawyer provides guidance and counsel concerning general issues that face any business sector, such as taxation, labor and employment laws, licensing laws, intellectual property, and acquisitions and mergers.

 

The business law firm offers many services to their clients and this includes commercial litigation, corporate law, and transactional law, said the business law attorney in Chicago. These are the three main areas of expertise of the firm. However, the attorneys at the law firm can also deal with other problems like transactional and administrative law. When there is a business dispute or a problem related to procurement, outsourcing, construction, intellectual property, supply chain management, government regulations, banking, infrastructure, and mergers and acquisitions, the attorneys can provide effective solutions for all these problems. Thus, it is very important to hire the right attorney at the right place to successfully handle the legal needs of a business.

 

Small Business Law: The expertise of the attorneys in Chicago can be regarded as global in nature. They deal with issues like contract interpretation, commercial matters, venture capital, employment discrimination, landlord and tenant matters, and patent and copyright laws. Moreover, they offer their expertise in handling commercial real estate law, corporate law, civil law, labor and employment law, intellectual property law, tax law, and family law. Therefore, when you hire their services, you can rest assured that you are dealing with experienced and skilled attorneys who have dealt with all kinds of cases for small businesses.

 

Business Law: Since there are many different types of business entities including partnerships, sole proprietorships, LLCs, DBA, corporations, partnership agreements, joint ventures, rent collection agreements, partnership agreements, tenants in common, franchises, purchase and sale agreements, purchasing agreements, business acquisitions, business dissolutions, business liens, landlord and tenant matters, landlord and tenant litigation, divorce matters, and alternative dispute resolution. Therefore, the small business law firms provide effective legal solutions for all these problems. Moreover, the attorneys at the law firm have strong skills to protect their client’s rights and ensure their security. Therefore, if you are planning to set up a business or you have some complicated legal matter, you can trust the Chicago lawyers. They will help you in every step of the way so that your business runs smoothly without any hassles.

 

Civil Law: Small business lawyers are proficient in handling all sorts of civil legal matters such as arbitration, personal injury, landlord and tenant litigation, consumer and workers’ compensation, and so on. Hence, when you hire their services you can rest assured that you are dealing with qualified and experienced legal counsel. Moreover, corporate attorneys are proficient in handling criminal cases like fraud, tax evasion, conspiracy, theft, embezzlement, and murder etc. Therefore, you can rely on them to handle any legal matter pertaining to small businesses or individuals. They can even handle your case from your home or office and submit it to the court of law easily.

Procurement Law: Small business attorneys also deal with contracts, intellectual property, employment contracts, business acquisitions, mergers, divestiture, licensing, commercial leases, procurement, vendor contracts, malpractice, negligence etc. If you have any question related to these fields of expertise, you can discuss your case with them. In fact, you can receive expert legal advising without even stepping out of your house. Therefore, you should contact a reputed business law firm today and get hold of effective legal counsel for all your business dealings.

What Actually Happens when you File for Bankruptcy?- Read On!

Bankruptcy Law is a legal procedure through which entities or individuals who can’t pay their debts to lenders can seek relief by means of a federal bankruptcy court. In almost all jurisdictions, bankruptcy is enforced by a federal court order, usually initiated by the filer. Once filed, it remains in effect until it is discharged by the bankruptcy court. Bankruptcy Law is quite complicated and often difficult for the average individual to understand. So an experienced bankruptcy attorney should be consulted to provide necessary legal assistance.

 

The average wage earner is likely to be living paycheck to paycheck and thus unable to personally afford the high costs of hiring a bankruptcy attorney. The situation is further compounded by the fact that many of these individuals probably have very little personal experience with legal affairs. This is where having a bankruptcy attorney on retainer becomes very useful. Bankruptcy attorneys can step in and help an individual understand the implications of filing for bankruptcy, while they represent him or her in court. Most bankruptcy attorneys are also capable of acting as a CPA (certified public accountant) for those filing for bankruptcy.

 

One major issue that arises in any bankruptcy proceeding is the question of what one’s status will be after filing. As per Bankruptcy Law, there are two classifications of individuals that can be declared “in bankruptcy” namely: exempt and non-exempt. Non-exempt persons are required to file taxes and report their income on their return forms; whereas exempt individuals are not required to file income tax returns. There are certain types of filers who can qualify under both categories.

 

Non-exempt persons can file a petition for chapter discharge either by themselves or through their lawyers. Bankruptcy Law allows them to recover certain property owned by them, including bank accounts, brokerage accounts, stock certificates and bond certificates. This property belongs to the creditors and is protected by Federal and state laws. However, chapter discharge does not allow debtors to transfer any property belonging to them to their lawyers. The filing process of chapter discharge is handled by lawyers.

 

Federal Court cannot hear bankruptcy proceedings. Thus, all creditors are directed to send their claims to the bankruptcy court. The bankruptcy court will then determine if the debtor can pay off his debts within a specified time period. If the bankruptcy debtor fails to comply with the terms set forth in the bankruptcy reorganization plan, he or she will be declared bankrupt. Federal Court is the only court that can declare a debtor as bankrupt.

 

Bankruptcy Law enables debtors to pay back their debts by liquidating their assets. Although the creditor still has the original loans, the court orders the debtor to pay it off. After the bankruptcy cases, the debts become unsecured and non-recourse, meaning, the creditor can collect from the debtor once the money is gone. In some cases, the payment ordered is only 50% of the originally owed amount.