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Corporate & Commercial Law

If capitalism is inevitable, so is corporate legal work to create, transfer, split, and reorganize business entities. Business purchase or sale strategy is also guided by tax considerations. Corporate business is also generated by clients who are borrowing money or leasing equipment. Contracts are still another area, including their negotiation and drafting, including shareholder agreements and employment contracts. Partnership issues, franchising, commercial questions, and Uniform Commercial Code (UCC) issues are also within the scope of our commercial work.

Many of our clients are businesses with one or two owners, some of them franchises. Other clients include investment partnerships. Many corporate deals include other areas of law. For example, the sale of a family-owned business often involves corporate, real estate, and estate planning, and may also require familiarity with environmental law. Business expansion can invoke real estate and labor law.

How much legal work does a business need? It all depends. One study of small business conducted by the University of Michigan found an inverse correlation between early attention to legal formalities and financial success. The lesson? Business is still the province of "animal spirits" described by statist economist John Maynard Keynes in his General Theory of Employment, Interest and Money (1936). A unique challenge of corporate work is to apply seemingly unlimited legal information and procedures in the correct amount for a given situation.

James Freund, in his book Anatomy of a Merger, makes a related point, when he attacks what he calls "laziness of mind" which can creep up on the parties to a deal. They think they have arrived at true terms, when they have only assembled fragments. "Can't businessmen negotiate these matters on their own? The answer, in most cases, is no." (p. 50).

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Tiesenga Gottlieb & Reinsma, LLP
1200 Harger Road, Suite 830
Oak Brook, IL 60523
Phone: (630) 645-9881
Fax: (630) 645-9804

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