Articles Posted in Small Business

CAUTION! WATCH OUT FOR THESE WAGE-AND-HOUR PITFALLSmoneycalculator-300x201

The U.S. Department of Labor has been cracking down on wage and hour infractions, and it may be time to review your overtime procedures and policies–it is all too easy to violate wage and hour regulations unwittingly.

Sometimes DOL complaints seem trivial. We lawyers have a saying–the “de minims” rule, which says “some things are too trivial to merit consideration.”

Aerial-fall-Lincolnpark-300x158Blockchain and Chicago Businesses

In September of 2015, the Global Agenda Council on the Future of Software and Society’s World Economic Forum[1] predicted that by 2025, 10% of GDP will be stored on blockchains or blockchain related technology.  If you are a Chicago business owner and you are unsure what that means or how it might affect your company, you want to speak to a Chicago business attorney as soon as possible to learn all that you can about this rapidly growing technology.

What Is Blockchain Technology?

equitycrowdfundingEquity Crowdfunding – The Future of Investing?

While nearly everyone has heard of crowdfunding, the concept of equity crowdfunding is not as well known.  For those Chicago business owners that are new to this developing area, prior to May 2016, crowdfunding was available only to accredited investors or those with an annual income of at least $200,000 or a net worth of more than 1 million, not including the value of a primary residence. Although the 2012 federal Jumpstart Our Business Startups Act[1] (JOBS) provided for non-accredited investors, the Securities and Exchange Commission (SEC) did not authorize equity crowdfunding to begin until May 2016.

Since that time, Article III of the JOBS Act has seen 49 successful offerings with 11.5 million dollars committed according to a November 17, 2016, Forbes report[2] on the state of equity crowdfunding. While the report suggests that the large majority of startups are not yet using non-accredited crowdfunding under Title III, it is anticipated that equity investment platforms will see tremendous growth moving forward.

ransomwareThe Democratic National Committee is not the only victim of computer hacking[1].  In June of 2016, Bloomberg[2] reported on black market access to 70,000 hacked corporate and business servers.  Even LinkedIn was victimized by computer hackers[3] who obtained 117 million passwords.

To further complicate things, these types of cyber attacks oftentimes have a global connection.  On September 28, 2016, one of the FBI’s former most wanted hackers[4] pleaded guilty to conspiring to receive extortion proceeds and illegally accessing computers.  Peter Romar, who had been arrested in Germany and extradited to the United States, was a member of a hacking group known as the Syrian Electronic Army.  The group hacked into the computer systems of The Washington Post, CNN, the Associated Press, Harvard University and many others, then threatened to cause damage or sell data unless the business paid a ransom.

Types of Ransomware

Bellas&WachowskilemonadeThere is a horror menacing our nation. It can appear on almost any street at any time. It rarely lasts more than a few hours before quietly disappearing, but occasionally, it takes root and grows into a threat to our health and well being.

The brave men and women battling these perilous dens of disease and iniquity are not glory hunters. In fact, they sometimes seem embarrassed when the spotlight shines on them, almost as if they should be ashamed when they shutter another location.

Agencies across the country have been fighting this scourge for years, but they can’t keep up. When one location is shut down, another appears. And this loathsome enemy generally preys on our most vulnerable citizens, our children, but even the most cautious adult is not immune from the perils of a lemonade stand.