New Illinois Bar Video On Buying And Selling A Business

The Illinois State Bar Association just posted a video with me talking about the documents you need to negotiate in the course of buying or selling a business, from the initial nondisclosure/noncircumvent that allows buyers and sellers to exchange confidential information to the term sheet which outlines their deal to the final sales contract (with…

Record Level Of Venture Investments In China

Venture capital investments in China reached $15.3 billion during 2015, significantly higher than the previous high of $7.3 billion in 2011. Mobile device deals predominated, with an average of $9.8 million per deal. Exits have also seen growth, with 61 deals raising $7.2 billion of venture backed company IPO’s in China in 2014, the last…

How Do We Get Rid Of Junior?

More than three quarters of all businesses in the US are family run. (The proportion is even higher elsewhere.) Family ownership means that family relationships, for good or for bad, often trump (or at least complicate) whatever the corporate documents say should be done about distribution of profits; hiring, firing, and promotion of managers; purchase…

Business Owner Asset Loan Guarantees Don’t Produce Personal Title To Assets

Owners of part of a business who guarantee auto or other asset loans for the company do not get title to the asset for which the loan is made. They may or may not even get credit for a capital contribution to the company, depending on the internal organizational agreements (partnership agreement for a partnership,…

Buy-Sell Agreements

There are two times that business partners argue: when they have money, and when they don’t. Those alternatives cover all available time segments, so if you’re advising people on how they should organize their business, some rules for the arguments may be in order. The classic horror story about such arguments is the Illinois appellate…