Getting started If you’re starting or expanding a business in Illinois—in Chicago or elsewhere in Illinois—one of your first decisions is choosing the right type of business entity. This choice significantly impacts your business’s tax treatment, operational flexibility, liability exposure, and ability to raise capital. Below, we highlight the key advantages of the most widely […]
Understanding intellectual property: A strategic overview for business leaders
The importance of intellectual property You know that intellectual property (IP) is important to your business. You’ve built something valuable—an innovative product, a distinctive brand, or compelling new content—but navigating IP protections can feel overwhelming. The nuances of IP law sometimes seem like a puzzle designed by lawyers, leading startups and small businesses to delay […]
Corporate Transparency Act compliance in 2025: What Illinois and New York small business owners need to know
DISCLAIMER: This article covers Corporate Transparency Act (CTA) compliance, which originally required businesses to report beneficial ownership information (BOI) to FinCEN. As of March 2, 2025, the U.S. Treasury suspended enforcement for U.S. citizens and domestic businesses (LLCs, corporations, etc., formed in the U.S.), so domestic businesses won’t face penalties for not filing BOI reports. […]