Category: Business Law
Think Your Commercial General Liability (“CGL”) Insurance Protects You From a Cyber-Attack? Think Again.
As the world around us becomes increasingly ever connected, the risk of a data breach of your computer system increases significantly. Instances of corporate data breaches are in the headlines more often that even before. From the unprecedented hacking of Sony Entertainment just over a year ago, to the very recent hacking of Hollywood Presbyterian
Possibility Of New Overtime Regulations. What Are They And How Could They Impact Your Business?
On March 13, 2014, President Obama signed a Presidential Memorandum directing the US Department of Labor to update its regulations regarding overtime pay for white-collar workers. The Department of Labor did so in July 2015 when it proposed revisions to the regulations governing which executive, administrative, and professional employees are entitled to the Fair Labor
Why Daily Fantasy Sports Could Get Sacked By A Weak Legal Protection Scheme
Since its creation in 1962, fantasy sports has seen a significant growth in both popularity and variation. Throughout the years, these games have been based on a consistent model, whereby individuals pay a single entry fee to draft a team and compete against other teams over the course of an entire professional sports season. In
Finding Joint Ventures in the Facts, Not the Contract
In the complex world of joint ventures, companies often will attempt to work together, while avoiding the term of art of “joint venture” in order to avoid potential legal implications that may follow. Take, for example, a recent case involving Michael Hiatt, an employee of Western Plastics, flame-retardant plastic manufacture. While working on the plant,
Chicago’s Minimum Wage Hike Takes Effect
As of July 1, 2015, Ordinance 02014-9680 became effective, which increased the minimum wage for employees in the Chicago to $10 per hour for non-tipped employees and $5.45 for tipped employees. The Ordinance provides for subsequent raises on July 1 of each subsequent year until the hourly minimum wage reaches $13 for non-tipped employees in
Recent First District Opinion Clarifies Standard For Piercing Corporate Veil As Well As Who May Be Held Personally Liable
A basic principle of corporate law, indeed the very reason why individuals incorporate or organizations create subsidiaries, is to insulate stockholders (whether corporations or individuals) from the corporation’s liabilities. However, this insulation from liability is not absolute. “Piercing the corporate veil” (“PCV”) is the legal doctrine that allows a plaintiff to hold the entities or
Advising Medical Marijuana Businesses
With the passage and implementation of the Compassionate Use of Medical Cannabis Pilot Program Act, Illinois stands to follow many other states on the path towards legalized marijuana use. However, despite allowing specific uses of marijuana, the federal government still identifies the possession, sale, and production of marijuana as illegal. While the U.S. Department of
When the Bubble Bursts: How Tech Start-Ups Are Hurtling Towards a Crash
At the turn of the 21st century, the internet had become a new market for individuals of all backgrounds and experience to begin online companies. Backed by venture capitalists and millions of dollars, dozens of internet companies such as Amazon, Yahoo, and Google were launched, and the dot-com era was born. These companies would go
Beyond Contract Liability: When a General Contractor Has to Pay a Subcontractor He Never Hired
The general rule concerning contracts holds that the only parties that can be held liable are those that signed the contract. In other words, you or your business generally can’t be held liable for a contract you did not sign. This simple rule is fundamental to contracts in the construction business. A general contractor hires
New Laws for the New Year
With the ringing in of a new year, more than 200 new laws have become effective in Illinois. Below are some of the most important laws which were enacted and what they might mean for you or your business. Pregnancy Discrimination (HB8 / PA 98-1050) Perhaps the biggest new law of the year for businesses