Illinois General Assembly Passes Corporation Dissolution And Reinstatement Bill

The Illinois General Assembly House and Senate passed SB 1098, which contained two sets of provisions originally drafted by the Institute for Illinois Business Law. The first set allows reinstatement within three years after entity dissolution without personal liability for intervening acts by officers and directors continuing the business of the dissolved entity. The second amends…

When is a Noncompete Worthwhile?

Noncompetes come up in several business contexts. A few examples:   Introductions to people or deals: Here, a “Noncompete/Noncircumvent” agreement is usual, with both sides promising not to do a deal with other people they introduce to each other, or to do a deal without the other’s permission,  and not to use information they receive…