We offer proper entity selection and formation proposals to best fit your business plan. We not only consider the legal ramifications, but also work diligently to understand your business model so that you can achieve great success and avoid problems that other companies fall prey to. Of all the choices you make when starting a business, one of the most important of those is the type of legal structure you select for your company or companies. Your decision on this issue may have a significant impact not only on your tax returns, but also on the amount of paperwork your company is responsible for, your personal liability and your ability to raise capital.
After choosing a proper business structure we will continue to help you draft an appropriate operating agreement or bylaws as well as anticipated contracts and any business licenses required. We strongly recommend that an attorney be in place for this initial business step. A well-drafted operating agreement sets the basic standards and road map for the company, management team, directors and owners. The operating agreement or bylaws will identify duties and responsibilities, the company’s capitalization structure, profit and loss distributions, and the business’ exit strategy and dispute resolution. The failure to properly draft an operating agreement or bylaws can cause great damage to your business and may lead to costly litigation to determine the parties’ intent where clarity can be assured by careful drafting.
Many individuals believe that they can save time and money by writing their own bylaws and or operating agreements, contracts, etc. Some have done so successfully without utilizing legal counsel. They will simply go on the internet and use a legal alternative, (choose a, b or c; put in a credit card)and magically they have a structure and a company formed with all the “trimmings.” The problem is what happens later. By the time they find out that the structure was incorrect and that “one size does not fit all,” their growth has been stunted and if the operating agreement or bylaws are flawed, they have to not only hire counsel to do it, but to redo it. The mistakes are costly.
Business contracts control the majority of transaction of a business entity. A well drafted contract can avoid unnecessary losses of time, energy and money. TEIL recommends that business owners consult with an attorney for the purposes of drafting and reviewing every transactional contract before signing. Experienced business attorneys can draft template contract for common use. Our attorneys assist U.S. businesses with a broad range of transactional contract matters including carefully drafted:
- Operating Agreements
- Compliance Manuals
- Logistic Contracts
- Buy Sell Agreements
- Internal Control Employment Agreements
- Shareholder Agreements
- Non-Competition Agreements
- Employment Contracts
- Real Estate Agreements
The Evans International Law Firms, LLC., (TEIL Firms) represent businesses or individuals in the greater Chicago area in a wide range of business litigation. We fight on your behalf! Our attorneys have successfully prosecuted and defended claims for small or medium sized businesses in both Illinois Local and Federal Courts. We also have experience handling complex business issues at trial, arbitration hearings, and at negotiations. Equipped with the language of small businesses of different cultures, we understand how to assist you in breach of contracts, business torts, insurance coverage disputes, and shareholder or LLC member disputes.
Mergers and Acquisitions
M&A is not just for the privileged big companies or public traded companies. Small and medium sizes businesses can also expand their outreach by conducting M&A. Even though the transaction may appear relatively small, it’s not something that you have to handle by yourself. Our attorneys can review the transaction and give you advice and then you can determine if you need further assistance. We will make sure you understand the deal from a legal perspective for your company’s future. If required we assist you with every detail in the M&A transaction, especially with the due diligence, and warranties. Our goal is to make sure none of your issues are overlooked in the M&A activity and that you are satisfied.
Corporate structuring and restructuring
A sound corporate structure is the basis of internal control in your daily business operation. TEIL Firms will analyze your business model and assist you with restructuring of existing firms to achieve better efficiency and avoid the risk of disputes and or lawsuits between shareholders or LLC members. In doing so, one of the services that we offer is to review your internal contracts including bylaws and operation agreements.
TEIL wants to make sure that our clients have few disputes. If there are risks we analyze to catch them early. However, if there are business disagreements, then want to settle the disagreements quickly so that you can continue your work. We will assess the situation, discuss the matters through letters and emails with you to keep your cost and time to a minimum. If you need negotiation we provide the space and will represent you, prepare documentation and or electronic presentations and contracts to seal the deal when you are successful.
TEIL is committed to helping small businesses in Chicago handle complex fraud claims. Specificity is needed to support claims of business fraud, which requires the attorney to demonstrate fraudulent intent. TEIL has exceptional knowledge of business practices, especially small business and understand small business challenges when owners are faced with this issue. We have experience and knowledge to provide excellent services to clients in this unique area of litigation.