“Business Broker” means any person who is required to register under Section 10-10 of this Act and, in return for a fee, commission, or other compensation:
        (1) promises to procure a business for any person or
    
assists any person in procuring a business from any third person;
        (2) negotiates, offers, attempts or agrees to
    
negotiate the sale, exchange, or purchase of a business;
        (3) buys, sells, offers to buy or sell or otherwise
    
deals in options on businesses;
        (4) advertises or represents himself as a business
    
broker;
        (5) assists or directs in the procuring of prospects
    
intended to result in the purchase, sale, or exchange of a business;
        (6) offers, promotes, lists or agrees to offer,
    
promote, or list a business for sale, lease, or exchange.

Terms Used In Illinois Compiled Statutes 815 ILCS 307/10-5.10

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
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