Knowledge Center

Monday, September 22, 2014

"Twenty-Sixth Annual How to Form an Illinois Business Entity: Corporations and Their Alternatives"

Chicago Bar Association

Part 1: Thursday, September 11, 2014

Part 2: Thursday, September 18, 2014

Presented by CBA Business Law Committee

PART 1 - Overview and Selecting and Forming the Business Entity

Until recently, the preferred form chosen by business lawyers was the Corporation. The preferred entity today is becoming the Limited Liability Company. With recent developments, the choice from the dozen or so available entities has become more complex. How do you advise clients? Every potential business entity must be examined for: tax consequences, liability consequences, and management and control issues and then tailored to each client's needs.

Topics:

  • Overview of Business Entities
  • Choice - LLC, C Corporation or S Corporation
  • Pitfalls in the Operation of Closely-held Entities
  • Illinois Secretary of State

Moderator:

PART 2 - Documentation and Special Issues

Topics:

  • Drafting the LLC & Partnership Documents
  • Getting the Financing: Securities Laws
  • Forming a Corporation
  • Ethics for the Business Lawyer

Moderator:

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