LawGram Volume 7, No.1

Table of Contents

ANNUAL REPORTS GO ELECTRONIC

It is now easier than ever to keep your corporation and limited liability company in good standing in Illinois. If LG is your Illinois registered agent and your company qualifies for electronic filing of annual reports with the Illinois Secretary of State (ISOS), then about 60 days before your corporation or limited liability company’s annual report is due to be filed with the ISOS you can receive an email from LG. The email would contain information required to be contained in an electronically filed annual report along with LG’s invoice for the applicable Illinois filing fees and LG’s fees. In order to file electronically, all you would need to do is to review the information, and accept and email to LG your confirmation of the accuracy of the information.

Once LG has received your acceptance email, LG can file the annual report electronically with the ISOS. Benefits of electronic filing include maintaining your company’s good standing in Illinois, and avoiding delays typically experienced in the ISOS’s office in order to achieve good standing certificates, unnecessary potential personal liability, the hassle and stress of paperwork and filing deadlines. Please contact LG for more information about Annual Report E-Filing.

WILL YOUR BUSINESS SUCCEED WITHOUT YOU?

LG’s keys to successful business succession

Planning is a key for every business. Business owners plan to meet their sales goals, their inventory needs, and their budget. But what happens when the same business owners become disabled, die or are ready to retire? Is there a plan for the business to carry on?

LG has represented businesses of every size for over 25 years. We have developed a program designed to motivate you, the business owner, to painlessly and seamlessly embark on the succession planning process while you can continue to maintain control of your business. LG will walk you through the steps to help business owners ensure that their business will perform and succeed even without them. Click here for more about LG’s Business Succession Planning.

PURCHASING OFFICE SPACE?

Five items to consider before cutting the check

Rather than continuing to lease office space, many business owners are deciding to purchase an office building to serve as their base of operations. When pondering if this it he right decision for your company, there are a number of important factors that must be considered before moving forward. Among those considerations are: 1. financing; 2. cash outlay; 3. ownership issues and responsibilities; 4. liability protection; and 5. exit strategy.

Click here for a more in-depth look at factors you need to consider before buying your own office space.

AVOID THE COURT ROOM

Mediation/Arbitration v. Litigation

Many business owners and individuals alike are apprehensive when it comes to filing suit. The costs and time constraints of the judicial system are the causes for such justified hesitance. While LG offers a full service litigation department, we recognized that it is not always in the client’s best interest to run to court.

There are alternatives available when it comes to resolving disputes (otherwise known as Alternative Dispute Resolution or ADR). The court house is not the only place to air your grievances. Mediation and Arbitration are available in many instances and may offer an individual or a business a more cost effective mechanism to resolve a dispute.

Click here to view other advantages (and at times, disadvantages) of ADR compared to Litigation.

JUST THE FAX

A fax may seem like an innocuous means of communication with business customer and others but it may become a trap for the unwary. The FCC has developed and continues to develop rules as recently as April, 2007 for the use of faxes. To find out about the new fax rules click here.

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