William M. Shay

With his broad legal experience, Bill serves as general counsel for new and growing businesses. He advises entrepreneurs, both individuals and small groups, in forming a business using the most appropriate legal structure and governance documents. Bill has helped clients form sole proprietorships, partnerships, limited liability companies (LLCs), corporations (both C Corps and S Corps), professional service corporations, and not for profit corporations (NFPs), with all required agreements and other documentation. Bill also assists companies with stock and debt financing, including loan documents, stock and LLC unit purchase agreements, and securities law compliance. He has helped negotiate and document joint ventures, angel and private equity investments, and stock and asset acquisitions and sales. Bill drafts employment agreements, customer contracts, vendor and supplier agreements, license agreements, independent contractor agreements, and real estate leases. Bill has also drafted cooperative research and development agreements between private companies, universities, and government research labs and facilities, along with appropriate ownership and licensing rights.

Bill also is experienced in public utility law and regulation, including proceedings before the Illinois Commerce Commission (ICC). He represents clients in connection with many different types of utility and energy matters, often involving interpretation and application of provisions of the Public Utilities Act, ICC regulations, and the Illinois Power Agency (IPA) Act, and IPA rules and policies. Bill gets involved in contested proceedings before the ICC, including cases involving complaints, rate cases, rulemakings, pipeline and electric transmission certificate cases, distributed generation certification and electric utility interconnection disputes. Bill also represents parties in lease and easement negotiations and documentation for utility projects, pipelines, wind energy projects and solar farms.

Bill graduated cum laude from Bradley University in 1974 with a degree in Accounting and obtained his law degree cum laude in 1978 from the University of Illinois, where he was a member of Law Review and Harno Fellow. Following law school, Bill clerked for two years for Justice Thomas J. Moran of the Illinois Supreme Court, then worked for a large Chicago firm before returning to Peoria. Bill also is a certified public accountant.