Going from Calling to “On Call” With Your Illinois Business Lawyer

Running a business is complicated and often messy. Having the services of professional legal counsel can provide peace of mind to business owners. From contract reviews and negotiations to buy/sell agreements and employee issues, outside counsel can provide legal insight and perspective. Easily calling you business lawyer becomes

Many times, though, legal counsel is called in after the fact – a situation has come up or a problem has arisen from a decision or transaction already made. Many times, the decision is made that fees charged for legal advice can exceed the cost of “small” mistake. 2022 has brought in many new laws for the new year. This article will provide an overview of basic business entity law types of business structures in Illinois and review what changes are in store for Illinois’ business in 2022.

Calling Your Lawyer with Changes in the Business Law Landscape

The legal profession has changed through the years. Like other industries, law firms have become nimbler, technology savvy and efficient. Most client work is project and fee based. This allows for predictability of fees for the client and work planning for the firm. Hourly rates are still in place, but becoming rarer as work is scoped, planned and delivered. Legal industry change is generally viewed through the narrow lens of the profession. Lawyers have long controlled all facets of the industry—education, training, delivery of self-proclaimed “legal services,” the judicial process, and regulation. They have also scripted the industry narrative.

That’s changing—business is recasting the culture, mindset, role, remit, and purpose of the legal function. Lawyers are a segment of an increasingly diverse, tech-enabled, data-backed, fit-for-customer/business purpose legal function. Many lawyers and industry pundits see little evidence of this—large firms continue to prosper, rates are climbing, and the talent war is driving up compensation packages

Contact the skilled attorneys at Anthony J. Madonia & Associates, Ltd. for advice regarding your business.  Do not hesitate to get the help you need.

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