Protecting LLC Assets from Creditors

Question:       I own an interest in a limited liability company with others through which we operate a professional service business. Our company holds a significant amount of assets largely consisting of equipment, accounts receivable and cash. How can we protect the company assets from creditors in a tax-effective manner?

Empowered sales rep protects his contract rights; delivers strong jolt to breaching principal

William Valle’s commission lawsuit against Powertech Industrial Co. Ltd. offers a little bit of everything.

Two versions of a contract, changing commission rates, enforceability questions, and the duty of good faith and fair dealing are all raised in this dispute. (So too is the perennial employee v. independent contractor battle, but that part of their contest will be saved for another day.)

Ex-city alderman uses clever logic in effort to avoid prison

Former Chicago Ald. Willie Cochran will be sentenced next week.

After admitting helping himself to the proceeds of a donors’ fund earmarked for ward activities, Cochran asked the court for the proverbial wrist slap (six months’ home confinement), rather than the 12 to 18 months in prison indicated under federal sentencing guidelines.

Why your board should consider using a smaller law firm

The reasons why smaller law firms offer significant advantages to companies are well known—this is especially true for businesses that are midsized or emerging. But the following is a primer for in-house counsel when their businesses are facing litigation and need help from outside counsel.

Holiday parties are fraught with peril; inviting HR doesn't help

For reasons I don’t understand, this year’s holiday party has been entrusted to me.

Wait, on second thought, I do understand. I’m in charge of the holiday party by default. No one else wanted to do it. And the party’s decision-making has been rife with conflict.