Chicago Corporate Entity Lawyers Experienced in LLC Law
Full range of legal services from formation to dissolution
If you own or operate an LLC in the Chicago area, you must contend with a competitive market and numerous regulations. Timely and pertinent advice from an experienced attorney help you handle impediments and avoid pitfalls. At Schwartz & Kanyock, LLC, we understand LLC law from personal experience as small business owner–operators and as attorneys with more than 50 years of litigation experience, who regularly manage controversies related to limited liability companies in Illinois. We offer a full range of legal services to get you up and running. We help you manage growth and resolve disputes, and, when the time comes, dissolve your company efficiently.
Forming an LLC the right way in Illinois
If you want to avoid problems, talk to the person whose job it is to fix them. Fire prevention? Talk to a firefighter. Auto maintenance? See a mechanic. For LLC formation, you should consult an attorney who litigates the problems that arise when LLC members enter into a business agreement without clear expectations. The basics of opening an LLC are so simple — pick a name, file articles, pay a fee, obtain licenses and so on. Unfortunately, members often don’t understand the more important organizational matters that are not required by law. Chief among these matters is negotiating and executing an operating agreement. This is your company constitution, detailing:
- How meetings are conducted
- How the company will be managed
- What capital contributions are required from each member
- How profits and losses will be allocated
- Exit strategies/buyouts
Without a clear operating agreement, your LLC is a ship without a rudder. At Schwartz & Kanyock, LLC we’ve had enough experience resolving squabbles within LLCs that we can alert you to any foreseeable problems so you can plan appropriately.
Disputes over breaches of fiduciary duty in Illinois LLCs
Whether you are a member or a manager of an LLC formed in Illinois, you owe a fiduciary duty to the company and its members. You can be held personally liable to the company for any breach of your fiduciary duties, which may include mishandling or misappropriating company funds or acting in competition with the company. Our LLC law attorneys have vast experience litigating breaches of fiduciary duty in LLCs and other business entities. We provide essential legal advice for staying out of trouble, and aggressively litigate breach cases to protect our clients’ rights.
Contact our experienced LLC attorneys for advice and representation in the Chicago area
The attorneys at Schwartz & Kanyock, LLC knows LLC law inside and out, as small business owners and as litigation attorneys. We advise LLC members, boards and managers, and represent individuals and companies in disputes. To schedule an initial consultation, call 312-436-1442 or contact us online.