Lloyd E. Shefsky

Of Counsel Chicago
Contact Info


Lloyd was a founding partner of Shefsky & Froelich Ltd., before the merger with Taft. He advises entrepreneurs on a broad range of legal, financial and business matters, he counsels family businesses on succession, governance, employment, philanthropy, family education, development of boards of directors, and numerous other relationships, and he also assists institutional clients with a variety of financial and operational ventures, transactions and activities. Lloyd also serves on boards of directors of private and public companies.

Lloyd has been actively involved in bringing clients to international and domestic capital and commercial markets throughout his decades of practice. During that time, he has represented many Israeli companies, especially those involved in high tech, software, security, medical technology and devices, biotechnology and nanotechnology businesses. He has also been counsel to the Government of Israel throughout the Midwest. Lloyd has received substantial professional recognition for his work on behalf of entrepreneurs and others. The following are among the most significant:

  • In 1995, he was awarded the Entrepreneur of the Year Award from Ernst & Young, Inc. and Merrill Lynch, for his work supporting entrepreneurs in the Midwest.
  • In 2002, he received the Civil Rights Award from the Anti-Defamation League.
  • In 1992, he received the Industrialist of the Year Award from the America-Israel Chamber of Commerce.
  • In 1993, he received the Excellence Award from the Sports Lawyer Association.

Lloyd has served, by gubernatorial appointment, on the board of the prestigious Illinois Institute of Entrepreneurship Education. He is a Clinical Professor of Entrepreneurship at the highly rated Kellogg School of Management, where he was also founder and co-director of the Center for Family Enterprise and co-founder of the Center for Executive Women. He has been awarded an AV® Peer Review Rating from Martindale-Hubbell, its highest rating for ethical standards and legal ability. He is honored as a Leading Lawyer and as an Illinois Super Lawyer.



All Service Areas


  • University of Chicago Law School (1965)
  • University of Illinois (CPA) (1964)
  • DePaul University (1962)


  • State - Florida
  • State - Illinois

Speeches and Publications

Lloyd has authored many articles published in numerous professional publications. He has written a chapter on taxes for a legal treatise; and co-authored, “Prospectus Perspective,” a story in the form of a screenplay that explores how and why people decide to go public.

Lloyd’s most recent book, Visionarie$ Are Made Not Born, deals with how successful businesspeople develop valuable visions and how readers can do so too.

Lloyd’s book Invent, Reinvent, Thrive was published by McGraw-Hill in late 2014. It relates to entrepreneurship and family business. It was also published in Chinese.

In 2017 and 2018, he recorded education courses for distribution in China.

In 2004, he authored and was executive producer of a video case study of governance of family business. More recently, he authored a case study of succession in a family business and has authored case studies in entrepreneurship (pricing the sale of a business; planning exit strategy) all for the Kellogg School.

In 1994, McGraw Hill published Lloyd’s book, Entrepreneurs Are Made, Not Born, subsequently translated into Spanish, Chinese, Japanese, Thai, Hebrew, Arabic, and Hungarian.

His knowledge and studies in entrepreneurship and family businesses are primarily aimed at benefiting his clients. He does, however, continue to share his experience through lectures, addressing various audiences of business people, university students and alumni, and not-for-profit organizations, in the U.S. and throughout the world.

Professional Affiliations

  • America-Israel Chamber of Commerce

    Recipient, 1992 Industrialist of the Year Award

  • Sports Lawyers Association

    Founding President
    President Emeritus
    Recipient, 1993 Excellence Award

Community Involvement

  • Anti-Defamation League

    Co-Chair, Regional Civil Rights Committee
    Former Associate National Commissioner, Regional Board of Directors
    Recipient, 2002 Civil Rights Award