Louisiana businesses have a variety of organizational forms that can be used, depending on the purpose of the business and its capital structure. Partnerships and corporations were once the principal forms used by most businesses, while certain real estate projects used limited partnerships. The major purpose of all of these entities was to attract capital and limit the risk of investments. Each form was useful, but each also had drawbacks. The corporate form proved too cumbersome, and partnerships could not be organized to limit investor liability. In 1992, the Louisiana legislature followed the lead of other states and passed a statute that allowed formation of limited liability companies.
Any lawyer who has tried a lawsuit in Louisiana can testify to the fact that much of the work done by the judges is, in reality, performed by law clerks under the judges' supervision. This close relationship is now under attack in a business lawsuit that dates back to 2015, in which the plaintiff is asserting that law clerks are not shielded by judicial immunity in the same way that judges are.
National Football League teams provide their owners and, occasionally, their fans with many opportunities to profit from the teams' images in their respective communities. Back in 2010, when the New Orleans Saints won their first Super Bowl championship, fans were chanting the slogan "Who Dat?" to show their support for the team. As the Super Bowl celebration faded, a New Orleans attorney and former councilman began to visualize how he could earn a profit by changing the slogan slightly, but significantly.
Bud's Broiler is perhaps the oldest local burger chain in New Orleans. The owner of the franchise, Bud's Broiler Holdings, is now involved in litigation with the franchisee who ran the oldest location in the city on City Park Avenue. A franchise in Baton Rouge owned by the same franchisee also closed recently.
Residents of Baton Rouge who are interested in starting a business must chose a legal form for that business. In doing so, they are immediately confronted with a confusing array of business law abbreviations, including, "corp.," "inc." and "llc." They may also come across terms such as partnership and limited partnership. What does it all mean?
Over the last two or three decades, non-compete agreements have become a common feature of employment contracts in almost every state. Many states, including Louisiana, have statutes that strictly define the terms and conditions under which such agreements can be enforced. The enforceability of such agreements has become an important issue in business law.
Our readers may have had the experience of discussing plans with another person only to walk away believing that they were in agreement about their intentions, but later to find out that they had different expectations for their strategies. For example, two people may agree that they will purchase an item together, and while one person may believe that they will share equally in the cost of the purchase, the other person may believe that they will be providing less of an investment in their joint purchase.
The decision to start a business is a big one and can have drastic legal and financial implications on the rest of a person's life. That is because if a business is not set up correctly, any liability that the business incurs can directly impact the financial health of the individual who was responsible for the start-up. For this reason, it can benefit Louisiana residents to get the help of business law attorneys when they are preparing to select the appropriate business structures for their new entities.
Most people generally understand the term "fraud" to mean something purporting to be what it is not. A person may be considered a fraud if they claim that they have skills they do not actually possess, or a product may be a fraud if it is styled to deceive consumers into believing that it is a more valuable item that it actually is. Fraud exists in the world of business contracts, too, and readers of this Louisiana legal blog may have run into the challenging problem of fraudulent misrepresentation in their commercial agreements.
A business in Louisiana may only be as good as the people who work for it. Businesses have an interest in hiring the right people and retaining them so that they may help the companies grow and prosper. Getting a good interviewee to agree to a position with a business can begin with preparing a solid employment contract. There are employment contract terms that are specific to particular industries, but an overview of terms that should usually be included in most employment contracts and that business law attorneys can help their clients incorporate into their hiring documents can help companies in Louisiana.