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Elmhurst Incorporation Attorneys | Elmhurst Corporate Attorneys | LLC Attorneys, Elmhurst, IL

Elmhurst Incorporation Attorneys | Elmhurst Corporate Attorneys | LLC Attorneys, Elmhurst, IL

Our Elmhurst business attorneys understand the unique needs and mindset of business owners and entrepreneurs.  With experienced, affordable, and comprehensive client service, we will build a lifelong relationship with you as your business' trusted adviser whether you need advice or assistance with incorporation, contract drafting or review, employee and independent contractor issues and agreements, business disputes, exit strategies, or asset purchase agreements, our friendly Elmhurst Business attorneys have the experience and skill necessary to provide creative and cost-effective solutions for business.

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Elmhurst Incorporation, LLC & Corporate Law Attorneys

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What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Please contact our friendly

Elmhurst Incorporation, LLC & Corporate Law Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Elmhurst

110 E. Schiller Street, Ste. 220B
Elmhurst
,
IL
60126
Get Directions

See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Hours: 
9 am - 5 pm, Mon-Fri

Our  Office Locations: 

Downers Grove Attorneys, Downers Grove Attorney, Downers Grove Lawyer, Downers Grove Lawyers

Downers Grove

5002 Main St, Ste. 201 Downers Grove, IL 60515

Naperville Attorney, Naperville Attorneys, Naperville Lawyers, Naperville Lawyer

Naperville

105 Jackson Avenue, Ste. 4b Naperville, IL 60540

Elmhurst Lawyer, Elmhurst Lawyers, Elmhurst Attorneys, Elmhurst Attorney

Elmhurst

​110 E. Schiller Street, Ste. 220B ​Elmhurst, IL 60126

Lake in the Hills Attorneys, Lake in the Hills Attorney, Lake in the Hills Lawyer, Lake in the Hills Lawyers

Lake in the Hills

8411 Pyott Road, Ste. 107, ​Lake in the Hills, IL 60156

Tinley Park Attorney, Tinley Park Attorneys, Tinley Park Lawyer, Tinley Park Lawyers

Tinley Park

​16557 Oak Park Avenue, Ste. B, Tinley Park, IL 60477

St. Charles Attorneys, St. Charles Lawyers, St. Charles Attorney, St. Lawyer

St. Charles

210 S Fifth St, Ste. 107B, St. Charles, IL 60174

Here's What Our Clients Have to Say:

John Paul Clancy
Says...

"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."

Kevin Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."

Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!

An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.

DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
John Paul Clancy
Says...
"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Kevin Sender
Says...
"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Mike Stehlik
Says...
"Kevin and his team are my "Go To" resource for clients that need estate planning"
Kevin Koc
Says...
Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
Says...
An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
Says...
Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.
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Meet Our Owner

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

Click Here for Videos, Podcasts, and Articles by Our

Elmhurst Incorporation, LLC & Corporate Law Attorneys

Elmhurst Incorporation Attorneys | Elmhurst Corporate Attorneys | LLC Attorneys, Elmhurst, IL

Or Continue Scrolling Below to Browse some of our Most Helpful Articles

When Should I Consult My Business Attorney?

Elmhurst incorporation lawyers

In this Learn About Law podcast & videoblog, attorney Kevin O'Flaherty of O'Flaherty Law discusses the 11 situations in which you should consult your business attorney, including: (1) Incorporation; (2) Annual Reports; (3) Employees; (4) Contracts; (5) Investor Agreements; (6) Trademark and Copyright Applications; (7) Dispute Resolution, Litigation & Collection; (8) Solutions for Distressed Businesses; (9) Exit Strategies; (10) Estate Planning; (11) Business Consulting

Elmhurst incorporation lawyers

As a business owner, it is important to have a trusted relationship with your business attorney.  You should always feel comfortable calling or e-mailing your attorney at any time.  Here are a few situations where it is advisable to consult your business attorney:

  1. Incorporating Your Business: The very first step you should take when you are starting a new business is to talk to your business attorney about incorporation.  Our Elmhurst corporate attorneys will advise you on the advantages of incorporating, such as liability protection and self-employment tax savings.  We will also educate you on the most advantageous corporate form for your business, including the difference between LLCs and S-Corps.  Our Elmhurst corporate attorneys will make sure that you have followed all of the required corporate formalities necessary to make your corporation effective, work with you to prepare bylaws and operating agreements, obtain an EIN number for your business, file your S-Corp election, and make sure that you are registered with the proper state governmental agencies.
  2. Annual Maintenance:  Our Elmhurst business attorneys will prepare and file your Annual Report with the Secretary of State and prepare your Annual Meeting Minutes for Shareholders and Directors, as well as ensure that you comply with notice requirements for annual meetings.  Even if you are a single-shareholder corporation or LLC, Annual Meeting Minutes are important in order to be able to show that you have been following corporate formalities.  If you fail to do so, your corporation may fail to protect your personal assets from corporate liabilities. 
  3. Contract Drafting & Review: The best way to protect yourself from costly disputes and litigation is to have a well-drafted contract with anyone with whom you do business, including your customers, employees & independent contractors, landlord, and third-party vendors.  Our Elmhurst contract attorneys can assist you in preparing asset purchase agreements; stock purchase agreements; leases, non-disclosure agreement, non-compete agreements, and non-disparagement agreements; general contractor agreements & subcontractor agreements; customer contracts; employee contracts; and independent contractor agreements.  Having a well-drafted contract that protects your interests and contains clear language is much more cost-effective than dealing with disputes based on ambiguity or lack of a contract down the road.
  4. Employee and Independent Contractor Issues Before you hire your first employee or independent contractor, you should meet with your attorney to help you navigate the many issues surrounding employment.  Our Elmhurst business lawyers will assist you in getting registered with the required governmental agencies, obtaining the proper insurance, and preparing employee handbooks & employment agreements.  We will also counsel you on whether to structure the relationship as an employee relationship or an independent contractor relationship and prepare independent contractor agreements to ensure that you are protected from liability.  If you are having issues with an employee, thinking of terminating an employee or independent contractor, or if an employee resigns, you should call your attorney as soon as possible to protect yourself against wrongful discharge and unemployment insurance claims. 

Read about the other 6 situations in the full article by our Elmhurst incorporations, LLCs, & corporate law attorneys.

5 Reasons To Work With an Attorney When Incorporating Your Business

In this Learn About Law podcast & videoblog, attorney Kevin O'Flaherty of O'Flaherty Law discusses why it makes sense to hire an attorney to set up your corporation or LLC. (1)Ensure that you are selecting the most advantageous and proper corporate entity. (2) Ensure that corporate formalities are maintained. (3) Ensure that you are registered with the required government agencies. (4) Advise you on tax issues and file necessary paperwork. (5) Build a relationship for your future business needs.

elmhurst corporate attorney

It is important that you work closely with a business attorney when incorporating your business for several reasons:

  1. Your business attorney will educate you and assist you in selecting the most advantageous and proper corporate entity:  There are many different types of corporate entities that you can select from when incorporating, including LLCs, S-Corps, LPs, and LLPs, your business attorney will take the time to educate you on the pros and cons of each type of entity for your particular situation.  Your attorney will help you find the most cost-effective solution that best fits your needs.   Series LLCs can be a great cost-saving solution for business owners with multiple businesses or multiple locations.  Professionals and other particular types of businesses may be required to file as a P.C. or PLLC. Selecting the wrong corporate entity can be an expensive mistake for your business. 
  2. Your business attorney will help you maintain required corporate formalities:  In order to receive the benefits of incorporation, such as liability protection and self-employment tax savings, it is important that you follow the required steps to maintain corporate formalities, both at the time of initial corporate set-up and annually.  Failure to do so will result in creditors being able to "pierce the corporate veil" in order to attribute business debts to the shareholders personally and may result in paying back self-employment tax savings if you are audited.  Your attorney will help you prepare bylaws or an operating agreement, prepare initial and annual meeting minutes for shareholders and directors, comply with notice requirements for annual meetings, issue stock, and maintain your corporate book.  Even if you are a single-shareholder corporation or LLC, failure to take these steps may result in your corporation being worthless from a liability and tax saving standpoint. 
  3. Your Business Attorney will register your corporation with the required government agencies: As part of our corporate-set up service, our Elmhurst attorneys will assist you in obtaining state and federal tax ID numbers, registering with the Illinois Department of Employment Security, and completing any other registrations that are required for you to legally operate your business. 
  4. Your business attorney will advise you on tax issues associated with your corporation and file the necessary paperwork on your behalf:  As a corporation, you have the opportunity to make an S-Corp election with the IRS that may significantly reduce your personal and business tax liability.  A good corporate attorney will work with your accountant to ensure that you are receiving the benefit of every tax advantage available to your corporation. 
  5. ‍Build a long-term relationship for your future business needs: Meeting with a business attorney at the incorporation stage of your business will allow you to build a relationship of trust and identify future legal needs such as contracts, leases, employee issues, exit strategies, or disputes.  When a legal issue arises, it is important both to identify the situation as one in which you should consult your attorney, and to have a pre-established relationship with an adviser and advocate that you trust. Check out this article regarding the 11 Situations in Which You Should Contact Your Business Attorney.

Minority Shareholders Rights in Illinois

In this Learn About Law episode, Elmhurst attorney Kevin O'Flaherty explains the rights minority shareholders have when it comes to closely held corporations in Illinois.

elmhurst corporate lawyer

The purpose of this article is to explain the rights and remedies under Illinois law afforded to minority shareholders of Illinois corporations and LLCs.  Let’s start by defining the terms “minority shareholder” and “closely held corporation.” Our Elmhurst incorporation, LLC, and corporate law attorneys do so by outlining:

  • What a minority interest in a corporation or LLC under Illinois law is
  • What a closely held corporation is
  • What special rights and remedies minority shareholders of close corporations and LLCs have in Illinois
  • Shareholders' right to sue on behalf of the corporation in a derivative action.

Read the full article by our Elmhurst corporation law attorneys.

Corporations vs. LLCs

Elmhurst attorney, Kevin O'Flaherty discusses corporations versus LLCs when incorporating your business. 

In this episode of the SeizeYourBusiness.com podcast and videoblog, Laura Crawford, CEO of Chamber 630, the Chamber of Commerce for the Downers Grove and Woodridge area, discusses common obstacles faced by business owners and how to overcome them.

Further Reading From Our 

Elmhurst Incorporation, LLC & Corporate Law Attorneys