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Business Counsel

LLC and Corporation Formation

Starting a new entity comes with many questions that attorneys are trained to answer. The choice of entity, as well as the agreements between partners regarding control, financing, and other rights and responsibilities, can have enormous impacts on the success of the relations between the owners, and therefore on the success of the firm. Wayne Law S.C. will ensure that these decisions are made after careful consideration of what matters.

Buy/Sell Agreements

When two or more people start a business, they generally don’t think about what will happen if a partner moves away, divorces, becomes incapacitated, or passes away. But any successful business will certainly outlive its founders, so careful planning up front will help avoid certain headaches and potentially bad feelings down the road. Buy/Sell Agreements ensure smooth and fair transition of ownership when a transition is necessary or desired, often requiring the sale of the exiting partner at a fair price, to be paid out over time or with insurance proceeds.

Real Estate Leases & Purchases

Real estate is frequently a business’s second-largest expense after its personnel. The location and quality of the business’s operations are paramount to its success. Leases should only be entered into after careful consideration of the possibilities of growth and demise. For growth contingencies, frequently the business will want the landlord to allow them to trade up to a larger space owned by the landlord, without penalty or increase in the lease duration. To protect in the instance of failure, the avoidance or restriction of personal guarantees is paramount, so that the owners are not putting up their homes to secure the landlord’s rental income. When purchasing property, these risks are exacerbated ten-fold.

Business Purchases & Sales

When people buy a business, they’re usually excited about buying certain things – the good will of a strong brand, well-trained and loyal employees, equipment, business arrangements – and may completely ignore other things – bad contracts, workplace discrimination or sexual harassment, the value of the previous owner to the company, the variability in earnings and reliance on too few customers, the list goes on. Wayne Law can perform a serious due diligence review of the business you’re buying, and to negotiate favorable terms to handle these uncertainties.

When helping clients sell a business, our job is to maximize their profit, minimize their liability, and reassure the buyer that any concerns they may have aren’t reasons to back out of the deal. If you want your business sale to go smoothly, not pay too much in attorney fees, and make sure your goals are met, let Wayne Law shepherd you through the process.

Employment Agreements

Commonly known as “Employment Agreements”, Restrictive Covenants Agreements bind employees to confidentiality, non-competition, non-solicitation, non-disparagement, invention assignment, and other terms. Wisconsin law surrounding these agreements is highly technical. Wayne Law is experienced in drafting these agreements to maximize protection of your business, while navigating technical legal requirements.

Serving Wisconsin

Located in Madison, Wisconsin, the Firm serves clients throughout Wisconsin, including Dane, Iowa, Sauk, Columbia, Dodge, Jefferson, Green, Rock, Lafayette, Waukesha, Milwaukee, Green Lake, Sheboygan, La Crosse, Eau Claire, Racine, Kenosha, Grant, Marathon, Walworth, Fond du Lac, Ozaukee, St. Croix, Winnebago, Outagamie, Brown, and Washington counties, and throughout Illinois, including Kane, DuPage, Cook, Lake, Winnebago, Kendall, DeKalb, La Salle, Carroll, Whiteside, Henry, Bureau, Putnam, Stark, Grundy, Will, Kankakee, Iroquois, Ford, Livingston, Woodford, Marshall, Peoria, Lee, Ogle, Boone, McHenry, Stephenson, Rock Island, and Jo Daviess counties.