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Courts can place a corporation under the control of an independent person, the receiver, so that the business can be preserved during litigation or to help creditors get paid.

Shareholder oppression occurs when majority shareholders use their control to deny minority shareholders their right to participate and enjoy financial returns from a corporation.

Mediation is an informal and confidential way for people to resolve disputes with the help of a neutral mediator who is trained to help people discuss, negotiate, and resolve their differences.

Without an operating agreement, relationships between managers and members within an LLC are governed by the Illinois Limited Liability Company Act.

An injunction prevents or compels a particular act by court order. An injunction may either be prohibitory or mandatory.

Indemnification is an obligation by one party to pay or compensate for the losses, damages, or liabilities incurred by another party to the contract.

Partnerships enable two or more individuals to pool their resources, talents, and expertise for common gain. The Illinois Uniform Partnership Act (“ILUPA”) regulates these partnerships in Illinois.

The Limited Liability Company Act allows an LLC to be created for any lawful purpose, other than insurance.

The Illinois Business Corporation Act leaves the resolution of most corporate disputes to a corporation’s officers and board of directors.