Business Lawyer
Prime Law Group, LLC, handles a wide variety of business law and commercial litigation matters. Our lawyers have decades of experience advising businesses of all sizes throughout Illinois.
Business transaction services provided by the firm include business formation and preparation; review of shareholder, partnership and company operating agreements; negotiation, drafting and review of stock and asset purchase and sale transactions; and contract preparation and review.
- Entity formation: The type of entity you choose for your business can make a big difference to its operations, management and tax consequences. Depending on your unique circumstances and goals, we will help you choose a corporate form that best suits your needs.
- Business dissolution: The legal details involved in dissolving a business can be quite complex. One misstep in the process can lead to future complications. We provide guidance to individual business owners and partners when they decide to go their separate ways.
- Contract disputes: Contracts are the lifeblood of every successful business. When a contract is breached or there is a dispute regarding specific provisions, our attorneys help parties find solutions outside of court, if possible, or represent clients at trial, if necessary.
We also work with clients to resolve specific “one-off” issues and provide general outside legal counsel services, along with out of state businesses looking to do business in both Illinois and Wisconsin.
Business / Corporate
Prime Law Group represents businesses of all sizes in a wide range of corporate transactions, including assisting with entity formation, complex corporate structuring, succession planning, and drafting a variety of buy-sell agreements in the Woodstock, Crystal Lake, and throughout McHenry County, and Northern Illinois Area. In addition, our attorneys are licensed in other states, including Wisconsin, and we assist out-of-state businesses looking to do business in both Illinois and Wisconsin.
Business Formation
When starting a new business, one of the most important decisions to make is what type of business entity to form. Different types of business or corporate structures can have significant tax and legal liability implications as well as state and federal obligations. In Illinois & Wisconsin, possible business structures include:
- Corporations
- Limited Partnerships
- Limited Liability Companies (LLCs) (Series LLC)
- Limited Liability Partnerships (LLPs) or Limited Liability Limited Partnerships (LLLPs)
- Limited Partnership Associations
Our attorneys advise clients on the best choice of entity for their specific needs and assist in the process of formation, including filing any necessary documents with the Illinois Secretary of State. We assist clients with preparing documents such as articles of incorporation, stock certificates, bylaws, operating agreements, and buy-sell agreements.
Complex Corporate Structures
In addition to providing basic entity formation services, Prime Law Group, LLC assist in forming complex corporate structures to protect a business’ assets. We establish operating entities which conduct all of a business’s operations but do not own any of its assets, and a separate holding company which controls a business’ assets but does not conduct any business transactions. By correctly structuring multi-tiered corporate entities of this type, our attorneys can help businesses protect their assets while limiting operational risks.
Succession Planning
The retirement, departure, bankruptcy, or death of an important corporate officer, such as a partner or CEO, can hinder the growth a business. By planning ahead for these contingencies, a business can limit the disruption of normal operations and ensure a smooth transition. Prime Law Group assists businesses and corporations in planning a profitable transition by addressing potential officer exit strategies; restructuring corporate entities; assisting with mergers, acquisitions, or the disposition of assets; advising on tax consequences; and helping to shift corporate responsibilities and preserve goodwill. In addition, we have negotiated, reviewed, and drafted a wide variety of buy-sell agreements or operating agreement for business owners, in which we carefully detail when an owner can sell his or her interest, who can purchase the interest, what must be paid for the interest, and the procedures for business succession.
Seek Experienced Representation
For over 20 years, the attorneys at Prime Law Group, LLC have represented businesses in corporate matters ranging from simple formation to complex structuring and succession planning. To schedule a consultation to learn how Prime Law Group, LLC can assist you or your organization.
