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Bylaws are an important component of establishing and running a corporation. They outline the rights and responsibilities of shareholders and board members, as well as provide direction on how the corporation will be managed. To ensure that your bylaws are effective, it is important to include certain key elements. Name and Purpose of Corporation The first element to include in your bylaws is the name of the corporation and its purpose. This should be clearly defined so that there is no confusion about what type of business you are operating. Additionally, you should include a statement regarding what resources can be used to achieve this purpose. For example, you may want to state that the corporation can use its assets such as cash, investments, or other property to meet its objectives. Shareholder Rights Your bylaws should also specify the rights of each shareholder in the organization. These rights can vary depending on the type of shares held by each shareholder; for example, common stockholders typically have voting rights while preferred stockholders have fewer voting rights but usually receive higher returns if dividends are distributed. The bylaws should also address issues such as when dividends will be paid out and how shareholders can transfer their shares to another person or entity. Board Member Obligations The bylaws should also include information about board member obligations and responsibilities. This includes outlining how directors will be elected and how often meetings must take place, as well as specifying which tasks must be completed before each meeting (for example, preparing financial statements). This section should also cover topics such as who has authority over certain decisions within the organization (e.g., signing contracts) and who has access to confidential information (e.g., trade secrets). Voting Procedures Finally, your bylaws must specify how votes will be taken at meetings of shareholders or directors (or both). This section should outline which types of votes are required for certain decisions (e.g., simple majority vs supermajority) as well as what happens if there is a tie vote or if a quorum is not present at a meeting. Additionally, this section should explain how absentee ballots can be used in certain cases where shareholders cannot attend meetings in person. Writing effective bylaws for your corporation is essential for ensuring that it runs smoothly and efficiently from day one. Your bylaws should clearly define the name and purpose of your business, outline shareholder rights, detail board member duties and obligations, and explain voting procedures for both shareholders and directors alike.. By including these key elements in your company’s bylaws, you will set yourself up for success from the very beginning. For more information about corporations and bylaws, or would like to set up your corporation, contact Curington Law, LLC at 312 803-1755 or online.

An operating agreement is a legal document drafted by lawyers that outlines the ownership and operational structure of a limited liability company (LLC). It is a key component of forming an LLC, as it serves as the foundation for your business. It also helps to protect against any potential disputes that may arise among its members. Here are some key items to include in your LLC's operating agreement. Ownership Rights The operating agreement should clearly outline the ownership rights of each member of the LLC. This includes their percentage of ownership, what they are responsible for, and their voting rights on decisions made by the LLC. Additionally, this section should include provisions such as how members can sell or transfer their stake in the company, and under what conditions a member can be expelled or removed from the LLC. Management Structure Another important item to include in your LLC’s operating agreement is how it will be managed. This includes who will serve in management positions and what powers they will have over decision-making processes. Additionally, this section should outline how meetings will be conducted, including who needs to attend and how decisions will be made. It should also stipulate who has control over finances and investments related to the company’s operations. Distributions & Taxation The operating agreement should also detail how profits from the business will be distributed among members, as well as how taxes will be handled. This section should state whether profits are distributed on an equal basis or based on each member’s percentage of ownership stake in the business. Additionally, it should provide information about tax filing requirements for both state and federal levels as well as specify any other tax liabilities associated with running an LLC. Creating an effective operating agreement for your LLC is essential for protecting yourself and your business partners against any potential disputes that may arise down the line. The above points are just some of the key items you should consider including when drafting your agreement; however, it is always best to consult with a lawyer who specializes in business law before finalizing any documents related to forming an LLC. By taking these steps now, you can ensure a smooth transition into running a successful limited liability company. For more information about Limited Liability Companies, contact Curington Law, LLC at 312 803-1755 or online.

Estate planning is an important part of any financial plan. It helps to protect the assets you have acquired in life, and to ensure that they are passed to your heirs in a timely and orderly manner. In this blog post, we'll discuss what estate planning is, why it's important, and how attorneys can help you with it. What is Estate Planning? At its most basic level, estate planning is the process of preparing for the future distribution of your property after you die. This includes deciding who will receive which assets, as well as how those assets should be managed and distributed. It also involves making sure that taxes are minimized and all legal requirements are met. Estate planning typically involves drafting documents such as wills, trusts, powers of attorney, health care directives, and other legal instruments. These documents specify how your property will be handled after you die. For example, a trust may be used to hold assets for a minor child until they reach adulthood; or an executor (an individual appointed by the court to manage an estate) may be named in a will to ensure that the wishes expressed in the will are carried out properly. Why Is Estate Planning Important? Estate planning ensures that your wishes regarding your property are respected after you die. Without estate planning, there is no guarantee that your property will be distributed according to your wishes—it could end up going to someone who wasn’t intended to receive it or could get tied up in lengthy probate proceedings if no clear instructions were given at death. Additionally, without proper estate planning your heirs could end up paying more taxes than necessary on inherited assets. How Can Attorneys Help With Estate Planning? Attorneys can provide invaluable assistance when it comes to estate planning. They can help create legal documents such as wills and trusts that ensure that your wishes are carried out after you die; they can provide counsel on tax strategies; they can advise on business succession plans; and they can work with individuals or families throughout the entire estate-planning process from start to finish. The right attorney can make all the difference when it comes to protecting what matters most—your hard-earned wealth and legacy. Estate planning is an essential part of any financial plan—and attorneys play an important role in helping individuals or families create a comprehensive plan for their future distributions of their property upon death. By creating legally binding documents such as wills or trusts, attorneys help ensure that individuals' wishes regarding their property are respected after they pass away while minimizing tax liabilities for heirs whenever possible. If you need assistance with creating an effective estate plan for yourself or someone close to you, don't hesitate to contact an experienced attorney today. For more information about estate planning, or if you would like to consult about estate planning, contact Curington Law, LLC at 312 803-1755 or online.

Estate planning is the process of making sure your financial and legal affairs are in order in the event of your death or incapacitation. It involves setting up a plan for how you want your assets distributed after you are gone, as well as outlining plans for any dependents who may be financially dependent on you. Estate planning can be a difficult, emotional task, but it is an important step in protecting yourself, your family, and your assets. Creating an Estate Plan The first step in estate planning is to create a will. A will outlines how you want your assets distributed upon death. This includes not only tangible items such as money and property but also intangible items such as stocks and bonds, insurance policies, digital assets (such as websites or online accounts), and other valuable personal possessions. The main purpose of creating a will is to ensure that all of your wishes are carried out upon death. You should also consider creating power of attorney documents to designate someone else to make decisions on behalf of you if you become incapacitated or otherwise unable to do so yourself. These documents give someone else the ability to manage financial matters and make medical decisions for you if needed. Power of attorney documents can be set up either permanently or temporarily depending on individual needs. Importance of Estate Planning Estate planning can help protect both yourself and your family from potential legal issues down the road. It ensures that all necessary details are taken care of before anything happens so that there’s no confusion later on if something were to occur unexpectedly—such as a death or an incapacitation. It also helps alleviate some of the financial burden associated with death by properly distributing assets according to one’s wishes rather than leaving it up to chance or state law requirements. Having an estate plan in place will also help reduce taxes owed by beneficiaries after a person has passed away because any gifts given during life can be deducted from the final tax bill when filing the estate taxes due following a person’s death. Estate planning is an important step for anyone who wants their wishes respected when they are no longer able to take care of their own affairs themselves either due to incapacity or death. There are several steps involved when it comes to proper estate planning including creating wills, power-of-attorney documents, trusts, and other necessary documents needed before passing away or becoming incapacitated . Everyone should take the time now—while still healthy and able—to create an estate plan so that their loved ones can have peace-of-mind knowing that everything was taken care of ahead of time without having any surprises come up later down the line when it comes time for them settle one’s estate after they have passed away or become incapacitated.. Doing so now will not only provide comfort but protection down the line as well. For more information about estate planning, or if you would like to consult about estate planning, contact Curington Law, LLC at 312 803-1755 or online.

When forming a corporation, it is important to understand the concept of authorized stock and par value. These terms are closely related and have an effect on the corporation's capital structure. In this article, we will discuss what authorized stock and par value mean and how they affect your business. What is Authorized Stock? Authorized stock is the amount of shares that a company has legally issued. It is usually decided at the time of incorporation or when a new class of stock is created. It has no bearing on how many shares have been sold or are outstanding, only the maximum number that can be distributed by law. Companies may choose to authorize more than what they anticipate needing in order to provide flexibility for future growth. What is Par Value? Par value refers to the nominal or face value assigned to each share of stock by the corporation’s articles of incorporation. This assignment creates a minimum price per share that must be paid when transferring ownership of any share in the company’s common or preferred stock, regardless of their market value. For example, if a company assigns a $1 par value to each share, then that would be the minimum price per share that must be paid when purchasing those shares from the company (or from another shareholder). Most states require that companies assign some kind of dollar amount as a par value for each type of stock issued; however, this does not mean that shareholders will actually receive any cash for these shares if bought from another shareholder or other entity outside the corporation itself. How do Authorized Stock and Par Value Affect my Company? The primary benefit of assigning both an authorized number of shares and par values is that it gives companies some control over their capital structure—which includes things like equity financing and debt financing—so they can decide how much capital they need in order to finance operations and pursue growth opportunities. It also provides protection against potential dilution since companies can limit how many total shares can be issued in total while still allowing them to issue additional classes or series as needed without having to re-incorporate with higher authorized numbers later on down the road. Finally, by setting specific par values for each class/series issued, companies can better plan out their capital structure (and avoid potential legal issues) since there should never be any surprises when it comes time to transfer ownership between shareholders or other entities outside the company itself. According to the U.S. Small Business Administration, a typical small corporation will have an authorized share capital of 500,000 shares at a par value of $0.01 per share. This means that the total value of the corporation’s stock is $5,000. By understanding all aspects related to authorized stock and par value, you can make wise decisions about your business' capital structure now as well as plan ahead for future growth opportunities without worrying about unexpected complications down the road. Whether you're just starting out with your business or already have an established one with multiple classes/series issued over time, having an understanding about authorized stock and par values will help keep your finances organized so you can focus on running your business successfully. For more information about corporations, or would like to set up your corporation, contact Curington Law, LLC at 312 803-1755 or online.

Real estate law governs the ownership and use of residential, commercial, and industrial property. As the laws change, so do the strategies needed to buy, sell, or manage properties. This blog post provides a comprehensive overview of real estate law, including regulations on buying land, financing a purchase, and renting or leasing property. Buying Land When purchasing land, it's important to understand all relevant laws and regulations in your area. Potential buyers must investigate title history to ensure there are no existing liens or claims against a property before making an offer. Additionally, certain zoning laws may also limit what can be done with purchased land. It's wise for buyers to hire an experienced real estate lawyer to guide them through the process and handle any legal matters that arise. Financing a Purchase The cost of buying a piece of property can be steep, so many buyers turn to lenders for financing options. Lenders typically require buyers to provide background information like credit scores and proof of income before issuing loans. Buyers should also make sure they understand the terms of the loan agreement clearly before signing anything. Lastly, since mortgages involve government-regulated entities such as banks and mortgage brokers, there are several federal laws that protect borrowers from predatory lending practices. Renting or Leasing Property Before renting out or leasing any property owned by an individual or business entity, it's important to check state landlord-tenant statutes related to the fair rental market value of units in that particular area. These statutes set minimum requirements such as how much rent can be charged and developing eviction procedures when tenants fail to pay rent on time or violate other conditions outlined in their lease agreements. Furthermore, landlords have certain responsibilities related to maintaining safe living conditions in their properties; these requirements vary by location so landowners should consult with a real estate lawyer familiar with local laws prior to renting out their units. Real estate law is constantly evolving; hence it's important for those involved in buying and selling properties stay abreast of recent developments in this field in order to avoid any potential legal issues down the line. With its many layers and complexities reliant upon local statutes, it is always advisable for individuals looking into real estate transactions seek expert advice from qualified professionals who specialize in this area of law before proceeding further. For more information about real estate law or if you have decided its your time to sell your home or buy one, contact Curington Law, LLC at (312) 803-1755 or online.

Copyrights are a form of legal protection that grants the original author or creator of an artistic work exclusive rights to exploit, reproduce, distribute, display, and create derivative works. Registering your copyright is an important step in protecting your work and ensuring that you receive the full benefits of copyright protection. In this blog post, we'll break down the steps involved in registering a copyright. Step 1: Determine Eligibility To be eligible for copyright protection, the work must be original and creative. This means that it must be something that you created yourself—it can't be copied from another source. Additionally, the work must also be "fixed," meaning it must be in some tangible medium of expression from which it can be perceived, reproduced, or otherwise communicated either directly or with the aid of a machine or device. This includes works such as books, photographs, sculptures, paintings, sound recordings, and computer programs. Step 2: Search for Existing Copyrights Before registering your copyright you should conduct a search for existing copyrights to make sure your work does not infringe on someone else's copyrighted material. The U.S. Copyright Office ("USCO") has created an online search database where you can look up any existing copyrights to make sure that your work is unique and eligible for registration. It's also important to note here that even if you don't register your copyright with the USCO it still applies under federal law; however registering your copyright provides additional legal protections if someone violates it in any way. Step 3: Fill Out The Application Once you have determined eligibility and searched for existing copyrights it is time to fill out the application form with all of your relevant information such as name(s) associated with the copyrighted material and contact information. Depending on what type of material is being registered (i.e., literary works vs visual arts) there may be different forms required so make sure to check out all available forms before submitting yours. Once completed submit your form along with appropriate fees and wait for confirmation from USCO indicating that you have successfully registered your copyright. Registration is an important step in protecting your copyrighted materials from potential infringement or misuse by others without permission or license agreement from you as the original creator/owner of said materials—so make sure not to skip this step. If done correctly registering a copyright can help ensure that no one else will use or profit off of something that rightfully belongs to you so take these steps seriously. Doing so will help protect you against potential legal action down the line due to accidental infringement from an unregistered piece of content. If you have copyright-related questions, feel free to contact Curington Law, LLC for more detailed information at (312) 766-6671 or online. We can help ensure that your copyright rights are properly protected.

When it comes to legal matters, having the right attorney can make all the difference. An innovative attorney is one who can think outside the box and provide creative solutions to even the most complex legal issues. Here are just a few reasons why you should hire an innovative attorney. Knowledge of Laws and Regulations An innovative attorney will have extensive knowledge of laws and regulations that apply to your case. This means they can devise a strategy for achieving successful outcomes while simultaneously navigating complex legal terrain with confidence. They understand what is legally permissible and what is not, which can save you time and money in the long run by preventing costly mistakes or missteps. Creative Problem-Solving Skills Innovative attorneys have the skills necessary to come up with unique solutions to any legal problem that may arise – often in ways no one else has considered. With their creative problem-solving abilities, they work hard to find a way for clients to achieve their desired outcome without going through protracted litigation or overly complicated proceedings. Efficient Strategies Innovative attorneys are adept at coming up with efficient strategies for resolving disputes quickly and amicably, allowing both parties involved to move on from the situation faster than if a traditional approach were taken. This saves time, energy, and money in the long run – making it worth hiring an innovative attorney if you’re looking for a more streamlined solution to your legal troubles. Protect Your Assets No matter how old or young you are, protecting your assets is critical. An attorney will advise you on the best ways to do this, as well as provide guidance on how to structure any investments or purchases in order to ensure that you get the most out of them in terms of long-term growth potential. Negotiate Better Deals Having an experienced attorney negotiating for you during a business transaction or contract negotiation can mean getting more favorable terms than if you relied on your own knowledge alone. An attorney understands how deals work, so they know when to press for more favorable provisions without raising too many red flags with the other side. Long-Term Strategy It’s important to have a plan for your future, and this plan should include hiring an attorney who can help guide you through any legal issues that may arise along the way. An attorney will be able to advise you on when it may be necessary to take action or make changes in order to protect yourself in the long run – something that could save you time and money down the line. At every stage of life – especially during early adulthood – having access to competent legal counsel is incredibly important. It is never too early (or too late!) to start investing in yourself by hiring an experienced and knowledgeable lawyer who can help guide you through whatever comes your way. Having an innovative attorney on your side can give you peace of mind when facing important legal decisions or navigating complicated court cases. If you’re looking for someone who is experienced, knowledgeable, and capable of thinking outside the box when it comes to providing quality counsel – look no further than an innovative attorney.

Merging or acquiring a company can be an exciting and nerve-wracking experience. It can be a great way to expand your business and increase revenue, but it also comes with a lot of legal and financial requirements. Here we discuss the steps to successfully merging or acquiring a company. Planning Ahead The first step in merging or acquiring a company is planning ahead. This includes conducting due diligence to make sure the two companies are compatible, researching the market for possible acquisition targets, evaluating the costs of due diligence and other related expenses, as well as determining who will run the merged entity. Negotiation Process Once potential matches have been identified, negotiations should begin. During this process, both parties should come to an agreement regarding ownership rights, management roles, financial obligations and other related matters. It is important that both sides understand the terms of the agreement and agree on them before moving forward with the merger or acquisition. Finalizing the Deal After all negotiations have been finalized, it’s time to finalize the deal. This means drafting documents including legally binding contracts that outline rules of engagement between all parties involved in the merger or acquisition. These documents must be filed with local regulatory bodies according to applicable laws and regulations; failure to do so could result in fines or other penalties for noncompliance. Post-Transaction Overview Once all documents have been executed and all legal requirements are satisfied, it’s time for post-transaction activities such as transferring personnel from one company to another and integrating operations from both entities into one efficient system. This may include training new employees on how systems work within the new organization as well as dealing with any potential conflicts resulting from post-merger integration of teams and production processes. With careful planning and thoughtful consideration along every step of the way, you can ensure your merger or acquisition will be successful. For more information about mergers and acquisitions, contact Curington Law, LLC at 312 803-1755 or online.

As you are forming a corporation, one of the most important decisions you will face is determining the number of shares to issue. This is an essential step in setting up a corporation, as it will ultimately determine how much money your shareholders can potentially earn from their investments. It's important to be aware of the legal requirements and other factors that can affect this decision before making any final determinations. The Legal Requirements First and foremost, it's important to understand the legal requirements related to issuing stock in a corporation. Depending on where you are located, there may be certain regulations that must be followed when issuing stock. For example, some states require companies to issue at least one share in order for it to be considered a valid corporation. Additionally, if you plan on having multiple classes of stock (e.g., common stock vs. preferred stock), then each class must have a minimum number of shares issued in order for it to be legally valid. Shareholder Considerations When determining how many shares to issue, consider potential shareholders' perspectives as well. If you plan on raising capital through investors or venture capitalists, then they will likely want more shares so that their potential returns are maximized. On the other hand, if you plan on selling shares directly to your employees or customers, then they may not necessarily need large numbers of shares because they won’t be looking for big returns; rather, they would simply like to own part of the company and benefit from any potential dividends or growth opportunities. Dividend Policies & Growth Opportunities You should also consider how your dividend policies and future growth opportunities could affect your decision regarding the number of shares issued by your corporation. If you intend to pay out large dividends or offer generous employee benefits such as profit-sharing plans or stock options, then there should be plenty of available shares for those purposes without diluting current shareholders’ ownership stakes too much. On the other hand, if you expect rapid growth within your business and anticipate needing additional capital in order to fund expansion projects down the road, then it might be wise to leave some additional shares unissued until those needs arise so that new investors don’t get diluted too quickly when subsequent rounds of financing occur. Tax Implications Additionally, it’s important to consider any potential tax implications associated with issuing different numbers of shares. Depending on how many shares are issued and who they are issued to, there may be different tax consequences that must be taken into account before making a final decision. Consulting with an experienced tax attorney can help ensure that you fully understand any potential tax liabilities associated with issuing different numbers of shares. Curington Law can connect you with the right source. Choosing how many shares should be issued by your corporation is an important decision with both legal and financial implications that should not be taken lightly. Be sure to research both the legal requirements and shareholder considerations before making any final determinations about how many stocks should constitute your total outstanding share count moving forward. Doing so can help ensure that all parties involved get maximum value from their investment while still adhering to applicable laws and regulations governing corporate structures in your jurisdiction. For more information about corporations, or would like to set up your corporation, contact Curington Law, LLC at 312 803-1755 or online.

When a corporation is formed, it often issues stocks and shares to investors. This gives shareholders the right to be part owners of the company. Understanding stock and shares is critical for anyone considering investing in a corporation, as well as for business owners and attorneys who are involved in setting up a corporation. Let’s take a look at some of the basics of corporate stocks and shares. What Are Stocks and Shares? Stocks are units of ownership that represent an investor’s proportional share of the corporation’s assets and profits. The more stocks you own, the greater your ownership stake in the company. Shares, on the other hand, are instruments that represent debt obligations owed by a company to its creditors or investors. Shares entitle holders to receive dividends when declared by the company's board of directors or payments upon dissolution or liquidation of the company. Types of Stocks & Shares The most common types of stocks are common stocks and preferred stocks. Common stock entitles holders to voting rights in the election of corporate directors and other matters put before shareholders for approval; preferred stock does not typically include voting rights but may entitle holders to certain preferential dividend payments or liquidation preferences over common stockholders. The most common type of share is an equity security which represents an ownership interest in a company; these securities can be listed on public exchanges such as NASDAQ or traded over-the-counter (OTC). Other types of shares include debt securities (such as bonds), hybrid securities (convertible bonds), warrants (options), derivatives (futures contracts) and mutual fund interests. Rights & Obligations Attached To Stock & Share Ownership In addition to owning a proportionate share of a company's assets, shareholders also have certain rights attached to their ownership interest including dividend entitlement, if applicable; access to financial information; pre-emption rights on new issues; right to vote on important matters such as mergers/acquisitions; inspection rights; right to participate in shareholder meetings; right to receive notice regarding proposed actions affecting their interests; priority over unsecured creditors upon dissolution/liquidation; transferability subject only to certain restrictions imposed by law or agreement between shareholders. On the other hand, shareholders may also be subject to certain obligations including payment for their shares when due; liability for unpaid taxes/debts incurred by the corporation prior to issuance/transferring their shares; providing personally identifiable information about themselves pursuant to anti-money laundering laws/regulations; compliance with fiduciary duties under applicable law if they serve as officers/directors of the company. As you can see from this overview, understanding corporate stocks and shares is key for any business owner or attorney looking into forming a corporation. It is important that all stakeholders understand their rights and obligations under applicable laws so they can make informed decisions when engaging with corporations or investing in them. With this knowledge comes peace-of-mind knowing that everyone will get what they expect out of any transaction involving corporate stocks and shares. For more information about corporations and stocks, or would like to set up your corporation, contact Curington Law, LLC at 312 803-1755 or online.

The decision to form a corporation is one that should not be taken lightly. Corporations are legal entities separate from their owners and provide the business owners with certain protections. In addition, corporations are subject to different tax laws than other business structures, such as LLCs or partnerships. Before you consider forming a corporation, it’s important to understand the process involved in setting up and maintaining a successful corporate structure. Choosing the Right Corporate Form The first step in setting up a corporation is deciding which type of corporate entity is best for your business. There are several types of corporations, including C-Corps, S-Corps, and Limited Liability Companies (LLCs). Each type of corporation has its own advantages and disadvantages; for example, C-Corps offer more protection from liability than LLCs but they also require more paperwork. It’s important to research each type of entity before making your decision so that you can choose the one that best suits your needs. Create a Corporate Name Once you have chosen your business structure, it is time to create a corporate name. Be sure that the name you choose is unique and not already taken by another business in your area or state. Additionally, be aware that some states require that the name include words such as “Incorporated” or “Corp” at the end of it. Check with your local government office for specifics on naming requirements for corporations in your area. Filing Your Articles of Incorporation Once you have decided on which type of corporation is right for you, the next step is filing articles of incorporation with your state government. This document officially creates your corporation and outlines the basic information about it such as its name, purpose, address, number of authorized shares and directors’ names. It’s important to make sure all information included in this document is accurate; if not, it could lead to problems down the line when filing taxes or obtaining financing. Setting Up Shareholders & Directors After your articles of incorporation have been filed with the state government, you will need to set up shareholders and directors for your corporation. Shareholders are individuals who own shares in the company while directors manage day-to-day operations. These individuals must be legally appointed according to state law; failure to do so can lead to serious legal issues for both shareholders and directors alike. It’s important to consult an attorney when setting up these roles as there may be additional requirements depending on where you live or what type of industry you’re operating in. It's clear that creating a corporation requires careful planning and preparation - but once done correctly it can provide numerous benefits including limited liability protection and potential tax savings over other business structures like LLCs or partnerships. Whether you're just starting out or already established in business it's worth considering incorporating if it makes sense for your particular situation. For more information about corporations, or would like to set up your corporation, contact Curington Law, LLC at 312 803-1755 or online.