Partnership Lawyers for Joliet, Illinois

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Meet some of our Joliet Partnership Lawyers

Brett S. - Partnership Lawyer in Joliet, Illinois
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5.0 (1)
Member Since:
September 15, 2023

Brett S.

Litigation and Contract Attorney
Free Consultation
Chicago, Illinois
8 Yrs Experience
Licensed in IL
University of Illinois

I attended the University of Illinois- College of Law on a full merit scholarship. While in law school, I was a 711 Attorney at the Lake County State's Attorney's Office, specializing in traffic and misdemeanor cases. After graduation, I served as in-house counsel for one of the largest insurance companies in the world, managing thousands of cases from initial intake to trial. Upon leaving this position, I accepted a role as Legal Counsel to the Illinois Senate Minority Leader. There, I advised Senators on legislative matters, labor and employment law, and complex constitutional questions. After leaving public service, I accepted a role at a mid-size Chicago-based law firm, where I practice insurance defense and litigation. In addition to this, I also serve as outside general counsel to a food brokerage business, where I handle all of their labor and employment matters.

Recent  ContractsCounsel Client  Review:
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Frank V. - Partnership Lawyer in Joliet, Illinois
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4.8 (6)
Member Since:
August 17, 2023
John B. - Partnership Lawyer in Joliet, Illinois
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Member Since:
June 21, 2023

John B.

Principal Attorney
Free Consultation
Indianapolis, IN
16 Yrs Experience
Licensed in IL IN
University of Illinois Chicago School of Law

I am an attorney with over 13 years experience licensed in both Illinois and Indiana. I spent the early part of my career as a civil litigation attorney. Eventually, I moved into an in-house role, specifically as general counsel, to help companies avoid the pains of litigation. In doing so, I gained significant experience in executive leadership, corporate governance, risk management and cybersecurity/privacy. I bring this wealth of experience to my client engagements to not only resolve the immediate issue, but help implement lasting improvements in practices to avoid similar problems going forward.

Daniel K. - Partnership Lawyer in Joliet, Illinois
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Member Since:
August 9, 2023

Daniel K.

Founder and Managing Partner
Free Consultation
Chicago
10 Yrs Experience
Licensed in IL NJ, PA
Drexel University Thomas R. Kline School of Law.

My practice focuses on business and commercial litigation. I have worked with companies of all sizes from sole member LLCs to those in the Fortune 500. I've advised clients on mergers, equity issuances, commercial transactions, joint ventures, employment issues, and non-competition. I've also drafted and negotiated the underlying agreements for these transactions and more.

Megan W. - Partnership Lawyer in Joliet, Illinois
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Member Since:
July 5, 2023

Megan W.

Principal Attorney
Free Consultation
Aurora, IL
12 Yrs Experience
Licensed in IL
DePaul University College of Law

My solo attorney law office is focused heavily on Family Law, but I also do residential real estate, and prepare Wills & Trusts.

Karen H. - Partnership Lawyer in Joliet, Illinois
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Member Since:
July 23, 2023

Karen H.

Former Division General Counsel
Free Consultation
Chicago
45 Yrs Experience
Licensed in IL
Loyola University Chicago School of Law

During my tenure as VP & Division General Counsel of PepsiCo Inc. in Chicago, I built upon my diverse career overseeing legal matters for both the domestic and international businesses of PepsiCo and The Quaker Oats Co. My extensive practice areas included M&A, contracts, competition, NDAs, regulatory compliance, consumer product & protection, environmental, patents, and advertising regulations. Throughout my professional journey, I navigated legal complexities associated with an eclectic range of products, spanning juices, sports drinks, cereals, snacks, needlepoint kits, canned goods, eyeglasses, men's suits, car seats and toys. For further information, see my LinkedIn: http://linkedin.com/in/karen-hunter-a700179

Charles M. - Partnership Lawyer in Joliet, Illinois
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Member Since:
July 26, 2023

Charles M.

Attorney
Free Consultation
Chicago
23 Yrs Experience
Licensed in IL
DePaul University

Mr. McElvenny has extensive experience handling and developing strategy for complex commercial and real estate cases. He’s drafted hundreds of complaints ranging from simple breaches of contract to complex commercial claims including breach of fiduciary duty, constructive trusts and misappropriation of trade secrets. He has an excellent record in trial, arbitration and mediation. He also has significant experience in motion practice in both state and federal court. Through his work in corporate law, Mr. McElvenny has developed considerable experience with Limited Liability Company member disputes and general corporate governance. He’s drafted a number of industry-specific documents such as Operating Agreements (for Limited Liability Companies), commercial leases, settlement agreements and employment contracts. Mr. McElvenny has also represented criminal defendants in felony matters and assisted in the defense of civil matters arising from alleged SEC violations. He has represented individuals appearing before the Illinois Department of Professional Regulation as a result of SEC proceedings. After graduating with a B.A. in Philosophy, Mr. McElvenny proceeded from Loyola University-Chicago to DePaul University College of Law, receiving his JD from that institution in 2002. In 2010, he earned his Master’s of Science in Accounting from Loyola University-Chicago’s Graduate School of Business. Mr. McElvenny was selected to Illinois’ Super Lawyers Rising Stars in 2010, 2012 and 2013.

Timothy J. - Partnership Lawyer in Joliet, Illinois
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Member Since:
August 1, 2023

Timothy J.

Corporate Counsel
Free Consultation
Fort Lauderdale, Florida
10 Yrs Experience
Licensed in IL FL, WI
Illinois Institute of Technology: Chicago-Kent College of Law

Financial Services, Business, Corporate, Personal Injury, and Healthcare. I've represented fortune 100 companies and defended individuals in personal debt litigation. Wide breadth of experience, ready to assist.

Dennis W. - Partnership Lawyer in Joliet, Illinois
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Member Since:
August 2, 2023

Dennis W.

Attorney
Free Consultation
Chicago/Schaumburg
33 Yrs Experience
Licensed in IL
The John Marshall Law School

2008 - Present: Sole Practitioner – Dennis W. Winkler, P.C. Practice primarily in finance and business transactions, as well as commercial real estate transactions. Represent developers, investors, lenders, and businesses, in such matters as: corporate entity selection, drafting and negotiating complex asset purchase agreements, corporate mergers and sales, stock purchase agreements, and various other business contracts for closely related businesses. Involved in a variety of real estate developments, multi-family apartment buildings, construction and acquisition financing, commercial leasing, sophisticated workout transactions, joint ventures, and tax-deferred exchanges. Advise on tax and other savings incentives available to business owners and real estate owners in Illinois. Advise companies involved in related real estate activities such as sales, leasing, property management, brokerage, and construction. Tax experience that includes the representation of taxpayers in State and Federal controversies including: sales/excess tax disputes and responsible parties’ tax assessment protest. Additionally, Dennis has experience in the protest of real estate taxes of commercial and multi-family real estate. As a legal and business advisor, Dennis is committed to helping clients find, develop, and close deals that further their business objectives. Dennis regularly advises entrepreneurs and closely held businesses on matters incidental to their day-to-day business operations as well as their capital raising and start-up needs, corporate structure, private equity raises, and operating agreements. Much like general counsel, Dennis’s breadth of experience allows him to not only provide strategic planning and routine business transactional support to companies, but he also regularly advises on a number of unique issues facing companies by spotting issues and engaging specialists when needed, such as intellectual property, environmental, and bankruptcy counsel. As such, Dennis has been actively involved in sales and acquisitions of manufacturing companies, trucking companies, and logistics companies.

Ronald P. - Partnership Lawyer in Joliet, Illinois
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Member Since:
August 10, 2023

Ronald P.

Associate General Counsel
Free Consultation
Woodridge, IL
45 Yrs Experience
Licensed in IL
Loyola University of Chicago Law School

Senior experienced contracts/transactions attorney in the Software Technology space. Also very versed in general corporate legal matters relating to business operations.

Andre T. - Partnership Lawyer in Joliet, Illinois
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Member Since:
September 6, 2023

Andre T.

Attorney
Free Consultation
Chicago
33 Yrs Experience
Licensed in IL MO
University of Missouri - Columbia

Commercial Litigation attorney providing advice and counsel to management regarding employment related matters and risk management issues

Nadir C. - Partnership Lawyer in Joliet, Illinois
View Nadir
Member Since:
September 6, 2023

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Partnership Legal Questions and Answers

Partnership

Partnership Agreement

Washington

Asked on Nov 15, 2023

How long is a partnership agreement valid?

I am considering entering into a partnership agreement with another person and I would like to know how long the agreement is valid. We are starting a small business together and I want to make sure that the agreement is legally binding and will remain valid for the duration of our partnership. I am looking for clarity on what the expiration date of the agreement is, if any, and any other important details that I should be aware of.

Merry K.

Answered Nov 28, 2023

I cannot give you legal advice in this format, and no attorney/client relationship is formed between us. If you enter into a partnership agreement, it will be valid until the end of time unless you either terminate it in accordance with the termination clauses in the contract or on a date specified in the contract. If you are asking such a basic question, I urge you to seek representation by an attorney (just you, solely) prior to signing this agreement or any other agreement you may be considering.

Read 1 attorney answer>

Partnership

Limited Liability Partnership Agreement

California

Asked on Sep 25, 2024

What are the advantages and disadvantages of forming a limited liability partnership (LLP) for my business?

I am currently in the process of starting a small business with a partner, and we are considering forming a limited liability partnership (LLP) as our business structure. We have heard that LLPs offer certain benefits such as limited personal liability for partners, but we are also aware that there may be some drawbacks, such as potential tax implications or restrictions on ownership. We would like to understand the advantages and disadvantages of forming an LLP so that we can make an informed decision about the best structure for our business.

Dolan W.

Answered Oct 29, 2024

Hello! There are some advantages to an LLP for sure. The first one is partners in an LLP are generally protected from personal liability for business debts and obligations. Each partner is also shielded from liability for the negligent acts of other partners, which can be a big advantage in professions with potential liability concerns, such as legal or financial services. One of the biggest advantages is tax-related. Similar to a general partnership, an LLP allows profits and losses to pass through to individual partners’ tax returns, avoiding double taxation. This setup can reduce the tax burden compared to a traditional corporation. LLPs also have an easy set-up and are bogged down by dense corporate bylaws like corporations and because certain licensed professions, like law or accounting, are required to operate as LLPs, it adds a sense of credibility and professionalism. The downsides? California limits LLPs primarily to certain licensed professions, such as attorneys, accountants, and architects, as I mentioned above. This restriction may limit your options if your business does not fall into these categories. You may need an LLC if it's not one of those professions. Also, California requires LLPs to pay an annual minimum franchise tax of $800, which may be a burden for smaller operations. If you need money, investors or lenders might prefer the corporate structure, which they view as more stable. Best of luck. We can draft documents like partnership agreements for you. Dolan

Read 1 attorney answer>

Partnership

Partnership Agreement

Texas

Asked on Nov 18, 2023

How to ensure clarity in a partnership agreement?

I am looking to form a partnership with another individual. We are both going to be investing in the same business and want to ensure that our interests are well protected. We have drafted a partnership agreement but are not sure if it is clear enough. We want to make sure that there are no misunderstandings between us and that our interests are clearly defined. We need help to make sure that the partnership agreement is clear and unambiguous.

Darryl S.

Answered Nov 28, 2023

Having an attorney review the current draft will provide an objective perspective on any gaps or areas lacking clarity in your agreement. Investing a little more upfront will prevent issues later should disputes arise. Please let me know if you need any other specific suggestions on strengthening your partnership agreement.

Read 1 attorney answer>

Partnership

Assignment Of Partnership Interest

Texas

Asked on Sep 15, 2024

Can a partner assign their interest in a partnership without the consent of the other partners?

I am a partner in a small business partnership, and one of my fellow partners is looking to assign their interest in the partnership to a third party. However, we do not have any provisions in our partnership agreement regarding the assignment of partnership interests. I am concerned about the implications of this assignment and whether it can be done without the consent of the other partners. I want to understand the legal rights and obligations surrounding the assignment of partnership interests in order to make an informed decision and protect the interests of all partners involved.

Thomas D.

Answered Sep 27, 2024

It is highly unusual that your partnership agreement does not address this issue. If there is no agreement to the contrary, then subject to very limited exceptions, a partner can assign its partnership interest.

Read 1 attorney answer>

Partnership

Partnership Agreement

Washington

Asked on Jun 6, 2024

What are the key elements that should be included in a partnership agreement?

I am currently in the process of starting a business with a close friend, and we have decided to form a partnership. We have already discussed our roles and responsibilities, as well as the financial contributions and distributions. However, we are unsure about what other important aspects should be covered in our partnership agreement. We want to ensure that all our rights and obligations are clearly defined, and that we have a solid legal foundation for our business relationship. Therefore, we would like to consult with a lawyer to understand the key elements that should be included in our partnership agreement.

Merry K.

Answered Jun 15, 2024

The following is provided as educational information, not legal advice. Before finalizing a partnership agreement, each party should be represented and guided by their own attorney. Also, agreements will differ depending on the type of activities/business plan/business, as roles and responsibilities, and dispute resolution, may depend on numerous factors. I consulted Chat GPT to generate a basic list for you, and it's pretty good: Creating a comprehensive partnership agreement is essential to ensure clarity and prevent future disputes. Here are key elements that should be included: Partnership Name: The official name under which the partnership will operate. Business Purpose: A clear description of the business activities the partnership will engage in. Partners' Contributions: Initial capital contributions of each partner (cash, property, services). Future contributions and obligations. Ownership Interests: The percentage of ownership each partner holds. Profit and Loss Distribution: How profits and losses will be allocated among partners. Decision Making: Voting rights of each partner. Procedures for making major decisions (e.g., unanimous consent, majority vote). Management and Duties: Roles and responsibilities of each partner. Day-to-day management responsibilities. Withdrawal or Death of a Partner: Procedures for a partner wishing to leave the partnership. Buyout terms and conditions. Handling the death or incapacity of a partner. Dispute Resolution: Methods for resolving disputes (e.g., mediation, arbitration). Duration of Partnership: The term of the partnership (fixed-term or at-will). Dissolution: Events that trigger dissolution. Procedures for winding up the business. Non-Compete Clause: Restrictions on partners engaging in similar businesses during and after the partnership. Confidentiality Clause: Obligation to keep partnership information confidential. Amendments: Procedures for amending the partnership agreement. Governing Law: The jurisdiction whose laws will govern the agreement. Indemnification: Protection of partners from liability for actions taken on behalf of the partnership. Including these elements in your partnership agreement will help ensure a clear understanding among partners and provide a framework for handling various situations that may arise.

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