BLOGS

Effort Clauses

Best Efforts? Reasonable Efforts? Commercially Reasonable Efforts? What is an “effort” clause and what does it mean to your business? It is common for two parties in a business transaction to include a clause, or several, into their contract which stipulates the level of effort the other party has to use to achieve the goal of the contract. These clauses are known as “effort” clauses and can be found in everything from manufacturing to service contracts. It is important that a business owner carefully review any agreement and ve...Read More
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Update on Paid Sick Leave in Cook County

It is getting increasingly complicated to be sick for employees and employers in Cook County. Echoing the City of Chicago, the Cook County Board approved an ordinance last October which was designed to provide paid sick leave to all employees in Cook County. The measure takes effect July 1, 2017. The measure provides employees with one hour of paid sick time for every 40 hours worked. Employees can earn up to five paid sick days annually. Various municipalities voiced objections immediately and passed ordinances which trump the applicati...Read More
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COPYRIGHT LAW OVERVIEW AND GUIDANCE PART I

With the everchanging world of technology, business owners need to be aware of the different areas of intellectual property law (IP). This is crucial in making the right business decisions and implementing processes to protect your existing and/or future IP rights. Also, having the proper protections and practices in place can avoid both the inadvertent loss of your valuable assets and putting your business at risk of the unauthorized use of another party’s IP. This blog is the first in a series on copyright law providing an overview for ...Read More
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Tips to Protect Your IP From Unauthorized Transfer Within Your IP License – PART 2

In Part 1, we covered: Current positions and trends in the law to be aware of; Ensuring that you are comfortable with your potential client and want to do business with this entity; Documenting who your client is and ensure that the client provides clear and convincing evidence of any organizational changes that could affect the IP License; Making your license grant as clear and protective as necessary; and, considering whether It makes sense to include language regarding a transfer fee upfront within your IP License Below are additional...Read More
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How Does the Business Judgment Rule Protect You as an Officer or Director?

In your role as an officer or director, it is important you understand how the business judgment rule works and how it can benefit you if you face any legal trouble in the future. The business judgment rule is a legal principle that makes officers, directors, managers, and other agents of a corporation immune from liability to the corporation for any loss incurred as a result of corporate transactions that are within their authority. The rule applies when there is enough evidence to show that the transactions at issue were done in good f...Read More
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