AI Representations and Warranties in Contracts
All agreements should be carefully drafted after proper due diligence to ensure the parties are receiving what the parties agree to exchange. Representations and warranties lock in the core facts underlying the parties’ transaction. Artificial intelligence upends many of the classic representations and warranties that are found in agreements. So be careful! Obvious examples where […]
AI and Insurance: How Do We Protect Our Company?
A data breach caused by an AI vulnerability, a product liability claim stemming from AI bias and many other scenarios could wipe out the gains created from using generative AI. Even worse, the company’s existence could be placed at risk. So an obvious question must be asked “Is the company truly insured for these risks?” […]
Need to Change FEIN? Maybe.
One of the decisions to make when converting an entity is whether to obtain a new Employment Identification Number (EIN) or to keep the current EIN in place. A company’s EIN is a unique nine-digit number for U.S. business entities use for tax filings and other identification purposes. EINs are required for a company can […]
Attorney-Client Privilege Issues In Disputes Between LLC Members
When controlling owners or managers seek the legal advice from the company’s attorney on sensitive subjects such as a business divorce, the company expects the attorney-client privilege to keep this advice private. But in Illinois, the attorney-client privilege may not protect communications between the managers of a limited liability company (LLC) and the company’s attorneys […]
SLG in Impact Wealth Magazine
We are proud to have our article on AI and Fiduciary Duties published in Impact Wealth Magazine. The issue can be accessed through this link: Spring 2025 Issue with Cover Star Wilbur Ross – Impact Wealth
Pricing Issues in Contracts
Rising prices makes people angry and litigious. It also makes them ask their attorneys to find creative arguments to terminate contracts. Put differently, inflation makes calling an attorney with both corporate and litigation experience even more important. The simplest and most practical way to avoid either scenario is to use forms for taking orders, quoting […]
AI and the Law: Client Rights
The American Bar Association (ABA) recently provided guidance on the ethical use of Generative Artificial Intelligence (GAI) tools in legal practice. While these tools can enhance efficiency and effectiveness, they must be used in a way that aligns with ethical standards. Clients need to know the following: The reality is that most of the AI-related […]
Prudent Investing: Do You Know What The Company Does?
Investors fail to engage in elemental due diligence when they do not understand the underlying technology. This results in a superficial understanding of their investment materials, which unfortunately leads to them being taken advantage of. Likewise, they rely on the investment seeker’s professional services firms to act in an ethical manner throughout their engagements with […]
Delta v. Crowdstrike: Third Party Risk Management
The Blue Screen of Death. It scared everyone who saw it. Let’s just say CrowdStrike’s update to customers’ Microsoft systems did not go according to plan. CrowdStrike later explained the error was attributed to a logic flaw in its Falcon sensor configuration update. Put differently, CrowdStrike claims it was a failure in its development process […]
ICE Raid Basics
An executive order titled “Protecting the American People Against Invasion” has refocused immigration enforcement efforts and increased the likelihood of ICE raids on their projects. Attorney General Bondi issued policy guidance requiring U.S. Attorney’s Offices, ICE, and other federal agencies to investigate and prosecute immigration-related crimes, which extends to employers and contractors knowingly employing or […]
