Paul Breaux writes regularly on several law subjects. His writings on corporate, commercial and health care law issues are published regularly in the journal of LPA, and his writings on health care reform have appeared in M.D. NEWS/Louisiana. His writings have also been accepted for publication by the Louisiana Hospital Association and by the Journal of the Louisiana State Medical Society.
You can find a sampling of his writings and newsletters on such topics as commercial and business law, agricultural law and industrial hemp in Louisiana, health care law related to HIPAA, pharmacies, and more.
Disclaimer: This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact an attorney directly.
When undertaking an act you intend to be an obligation of your corporation or limited liability company [LLC], you must make certain that the person you are dealing or contracting with is aware that the obligation is not yours individually. If you are not attentive and careful, a court could rule that you are personally obligated to pay your company's debts.
Read MoreYou began your career as a grower 20 years ago and may have started "with nothing" as the expression goes; during that period you and your spouse built your home, cared for and educated your children now all grown and starting their own work-life path; "built a business"; and mid-career is the time to put in place the means by which you and your spouse smoothly exit and move on to things you have worked to have time for at retirement.
Read MoreWhether you are starting a new business or having been operating as a sole proprietor you should consider forming a business entity. This article discusses the legal and practical reasons to formally organize your business in the context of a corporation. Similar principles apply to limited liability companies (LLC).
Read MoreBusiness owners often invest large amounts of time and money in the development of technology or other information that gives them significant competitive advantage in the market place. The Louisiana trade secrets statute is one of the effective tools that can be used to protect that investment from theft or other misappropriation.
Read MoreWhat you do after you have taken the required steps to incorporate your business is just as important as the initial steps. In order to successfully hold a shield between your personal assets and your business liabilities you must be vigilant..
Read MoreCarelessness and inattention can make you liable personally for a debt of a corporation, limited liability company, or other business entity. You thus be thorough and mindful to create and maintain appropriate internal records of your company, and you must be vigilant with your business’ external documents, such as contracts, loans and other written agreements it enters into with third persons.
Read MoreLouisiana case law recognizes that shielding a shareholder’s personal assets from liability for corporate debt encourages business investments, especially in high-risk endeavors. Thus, courts are reluctant to disregard the limited liability that is part of corporate stock ownership, unless exceptional circumstances are found to be present.
Read MoreCareful adherence to mandatory corporate formalities will help assure your corporation will not be deemed by an I.R.S. agent in an audit, or a jury in a civil suit, to have ceased to exist, and will help assure it continues to be what you intend — a shield for you against personal liability for the company's debts. Annual shareholder meetings are well worth it for that reason alone.
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