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Arlington Heights business law attorneyOver the last several years, a number of retailers have announced and begun executing plans to close a substantial number of stores. Some have been struggling for quite some time, such as JC Penney, Sears,  and Toys R Us, while others—including Macy’s—have surprised many consumers with their plans to shutter dozens of locations.

Unfortunately, many of these retailers are “anchor stores” in shopping malls across the country. As anchor stores, they once served as the most stable tenants of a shopping center, with a customer base that drove the bulk of the mall’s traffic. The struggles of such stores have translated into big problems for the shopping centers themselves, and while e-commerce is part of the issue, it is not the only reason that malls are hurting nationwide.

Reason #1: Online Shopping Is Here to Stay

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Arlington Heights business law attorneyIf you are a small business owner, you know that legal documents such as contracts, non-compete agreements, non-disclosure agreements, and employee handbooks and policies can carry a tremendous amount of power. It is vitally important that business owners carefully review documents such as these to make sure they are factually accurate, free of errors, written clearly, and legally enforceable. Sometimes, a small error or oversight can cause a contract or other legally-binding documents to become ineffective and unenforceable.

Punctuation Discrepancy in Maine labor Law Results in Millions

Delivery truck drivers from a Portland dairy company will soon be much wealthier thanks to a lawsuit they filed to recover back wages for overtime. The lawsuit began in 2014 when employees of Oakhurst Dairy demanded that their employer pay them for overtime they had worked. Generally, any hours above 40 worked during a given week are compensated with time-and-a-half pay. Oakhurst Dairy did not pay the delivery workers extra pay for any hours worked beyond 40 per week because the Dairy insisted that law did not require it.

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Arlington Heights business law attorneysYou have probably heard the term “non-disclosure agreement” more often than normal in the last few months. Recently, President Trump has been accused of having a relationship with an adult film star and using a non-disclosure agreement (NDA) to prevent her from discussing it with the press. There has always been a bit of confusion in the general population about exactly what the purpose of an NDA is and when to use this legal device. Non-disclosure agreements, also known as also known as confidentiality agreements, confidential disclosure agreements, proprietary information agreements, or secrecy agreements, can be a valuable tool for business owners.

An Unfair Reputation for a Valuable Legal Tool

An NDA is a legal contract that can exist between two or more parties that guides how confidential information should be kept private. For example, if two parties wish to discuss sensitive material without the threat of that information leaking to a third party, they can use an NDA to establish confidentiality rules. Doctor-patient confidentiality, attorney-client privilege, and bank–client confidentiality are forms of non-disclosure agreements. While often receiving bad press, an NDA by no means indicates that any illegal or unethical behavior is being protected.

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Illinois business law attorneyAfter the Parkland school shooting in Florida last month, many people were shocked and saddened. The shooting, which left 17 students and faculty members dead, has reignited the debate over gun laws in the United States – especially the controversy regarding semi-automatic weapons and accessories like bump stocks. Several corporations have changed their business practices in order to be consistent with their political and social beliefs.

Social Risk Should Be a Consideration for All Businesses

There are many complex factors that a business owner must be worried about. In addition to managing employees, expenses, income, and marketing strategies, businesses now must consider “social risk” when making business decisions. Social media allows people to share information instantaneously. A company who makes an offensive “tweet” on Twitter can expect that tweet to be shared thousands of times within hours. Businesses, whether they like it or not, have been pulled into the political realm. Everything a business does or says is noticed by consumers.

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Illinois small business attorneysAny small business owner knows that it takes a substantial amount of money to start a small business. It is not uncommon for business owners to take out loans or acquire other debt while they are in the process of starting their business. If you are a small business owner, you are probably worried about debt frequently. Unfortunately, going into debt is often an unavoidable part of having a business, but there are some ways to manage this debt so it is less overwhelming.

1. Keep Track of Your Expenses, Revenue, and Credit Report

Before anyone can tackle their debt, either personal or business-related, they must know their current financial status. Although record-keeping is tedious and time consuming, it is critical that businesses keep track of their expenses and revenue. Additionally, experts suggest keeping a close eye on your personal and business credit scores. A credit report from one of the three main credit bureaus will show you what debt you have and to whom. It can also give you a chance to dispute paid or inaccurate debts which may be negatively affecting your credit score.

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