Corporate Governance

Once your company has its organizational and governing documents in place, the task of operating it to make money while complying with appropriate laws and regulations can be complicated. Knowing corporate governing principles is essential. There are financial and legal risks resulting from violations of the law. Strategies to address potential violationsbefore they occurare also important.

Many businesses rely upon the advice of outside counsel regarding corporate governance, such issues include:

  • Compliance with governing documents (shareholder agreements, bylaws, LLC operating agreements, partnership agreements) in conjunction with statutes (the Business Corporation Act, Partnership Act, LLC Act); qualifications of board members, composition of the board, structure of board committees, independence requirements for board members and committees, fiduciary and good faith duties, periodic review of articles of organization and bylaws, shareholder agreements, proxy proposals, and voting issues.
  • Compliance with Illinois and federal laws and regulatory rules: ethics codes, whistleblower policies, clawback policies, insider trading policies, conflicts of interest, and related party transactions.

Our attorneys can assist you in developing best practices, compliance programs, and response plans so that you can focus on operating and growing your business. We concentrate our practice in emergency business litigation. In a crisis, when questions of corporate governance arise, we can provide counsel to try to prevent litigation as well as effective litigation advocacy.

If you have run into problems related to corporate governance contact Thomas E. Patterson at (312)-223-1699 or

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