Contracts, litigation, and formation — protecting your business interests
Running a business involves complex legal challenges at every stage. Chicago Legal Exchange provides practical, results-oriented counsel to entrepreneurs, small business owners, and established companies. We handle commercial litigation, contract drafting and review, business formation, partnership disputes, collections, and regulatory compliance. Attorney Nathaniel Holcomb understands the real-world pressures business owners face and delivers solutions that protect your bottom line.
Contracts are the foundation of every business relationship. We draft, review, and negotiate vendor agreements, service contracts, partnership agreements, operating agreements, commercial leases, and employment agreements. When disputes arise — breach of contract, non-payment, partnership disagreements, or business torts — we pursue resolution through negotiation, mediation, or litigation in state and federal courts.
Choosing the right business structure affects liability protection, tax treatment, management flexibility, and growth potential. We advise on entity selection — LLC, corporation, partnership, or sole proprietorship — and handle formation documentation, operating agreements, and state filings.
The best entity depends on your specific situation including owner count, liability needs, tax considerations, and growth plans. LLCs offer flexibility and protection for most small businesses; corporations may suit those seeking outside investment. We evaluate your options and advise accordingly.
The statute of limitations is 10 years for written contracts and 5 years for oral contracts. However, consult an attorney immediately when you become aware of a potential breach — delays affect your ability to recover damages and preserve evidence.
Essential elements include party identification, scope of work, payment terms, intellectual property provisions, termination rights, dispute resolution procedures, and limitation of liability clauses. Every contract should be reviewed by an attorney before signing.