Chicago Business & Business Law Information CenterCall us now at 312-236-8110 or use the form below. Recent NewsBusinessFrequently Asked Questions - Starting a BusinessQ: Where do I look for investors? A: A potential business owner may seek investors by contacting friends, business acquaintances, relatives, clients or industry colleagues. In addition, an owner can contact banks and commercial finance companies. Financial institutions may also know of venture capitalists interested in investing in new businesses. Q: What is a debt-to-equity ratio, and what does it mean for my ability to attract financing? A: The debt-to-equity ratio is the relationship between the money the owner has borrowed for the business and the funds the owner has invested in the business. Generally, the more money that an owner invests in the business, the easier it is to attract additional investors and financing. Free initial consultation. Call to speak to one of our experienced business and commercial law attorneys at 312-236-8110. Chicago's Business LawyersIf you are starting a business, an experienced business organization attorney can guide you through the process. The lawyers at Griffith & Jacobson, LLC in Chicago, Illinois, offer a broad range of business and commercial legal services Link to business and commercial law to clients starting a new business. With 50 years of experience in corporate formation and small business startups, we can advise you on the best way to structure your business. We can educate you about the benefits and disadvantages of different business entity choices (including partnership, corporation, and limited liability company) and explain the tax consequences and liability ramifications of different business organizations. Our experienced business attorneys provide sound counsel on how to handle the many legal issues that face any successful business venture, including business transactions, business financing, and business succession planning. Check out our firm's blog that deals with legal issues effecting businesses and business owners at: Business Blawg at http://gjlaw.blogspot.com Starting a Business - An OverviewStarting a business can be a daunting and complicated process. The potential business owner must consider numerous factors, including financing the business; setting up a business plan; choosing the correct business organization; naming the business; addressing licensing, permits and zoning matters; hiring and paying employees; and securing business insurance. The law surrounding these areas is diverse and often specific to your locale. An experienced attorney from Griffith & Jacobson, LLC in Chicago, Illinois, can assist you today. Financing, Business Plans and Business OrganizationsA prospective business owner will be concerned with financing the new business, setting up a business plan and choosing the best type of business organization. The options for pursuing ownership of a business vary widely. An attorney can help you sort out these matters. The following synopsis will help you start thinking about the important decisions you will have to make. Naming the Business, Licensing, Permits and ZoningA new business owner has a lot to think about. The owner must name the business, acquire licenses or permits, and deal with possible zoning concerns. With all of these considerations, the assistance of a business attorney can make the journey smoother and more rewarding. Hiring EmployeesState and federal laws govern the actions of business owners during the hiring and employment process. The new business owner must be aware that the following concerns apply when advertising job openings, interviewing, hiring and supervising employees. A business owner should:
It is vital that the new business owner understands the legal aspects of these topics prior to staffing a business. An attorney can advise you on these important employment matters. Employee CompensationA new business owner may have questions about the minimum wage, overtime pay, child labor, employee sick leave and record keeping. The US Department of Labor and certain state agencies are charged with enforcing employee rights, and many times the law is complex and detailed. A new business owner should stay informed in order to avoid legal difficulties. An attorney who is competent and experienced in business planning and employment law can assist you with your questions today. Insurance for the Business and Its EmployeesA new business owner should understand the insurance policies that are available for both the business and its employees. It is important to analyze the risk exposure before determining the type and amount of insurance that will best protect the new investment. In addition, laws or contractual agreements may require certain types of policies. An attorney can assist you with your questions today. Starting a Business Resource Links
Small Business Administration (SBA)
Department of Labor
Occupational Safety and Health Administration (OSHA)
Equal Employment Opportunity Commission (EEOC)
Employee Benefits Security Administration
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Chicago Business & Business Law Information Center
Griffith & Jacobson, LLC
55 West Monroe Street
Suite 3550
Chicago, IL 60603
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