Business and Corporate

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Earlier this year, Governor John Bel Edwards signed into law House Bill No. 515, amending La. R.S. 12:1333 and enacting the new La. R.S. 12:1333.1 of the Louisiana Limited Liability Company Law (the “LLC Law”), which became effective on August 1, 2022. This legislation represents meaningful changes to the nature of membership interests in Louisiana…

For traditional manufacturers, the Inflation Reduction Act of 2022 (IRA) offers a mixed bag of carrots and sticks to support its green energy goals.

Signed by President Biden on Aug. 16, 2022, the bill includes numerous tax credits and other incentives promoting clean energy investment. One of the IRA’s stated purposes is to incentivize and…

In trip and fall litigation, the validity of a plaintiff’s claim often turns on whether the condition allegedly causing the fall is a so-called “open and obvious” risk of harm. That is, a risk of harm that is so obvious and discoverable that a reasonable person would have avoided the hazard, and ultimately, the injury.…

In a decision holding that surety bonds are not executory contracts, the Fifth Circuit signaled that courts may in the future utilize the functional approach to determine if multiparty contracts are executory in nature. The case, filed in the United States Bankruptcy Court for the Middle District of Louisiana as In re Falcon V, L.L.C.…

In Helix Energy Solutions Group Inc v. Hewitt, an en banc U.S. Fifth Circuit Court of Appeals issued a 12-6 ruling last year finding that a highly paid offshore supervisor (who was paid more than $200,000 per year on a day rate basis) was entitled to overtime premium pay because he was not paid…

Last month, the Financial Crimes Enforcement Network (“FinCEN”) published proposed regulations to implement the Corporate Transparency Act (“CTA”), which was enacted into law on January 1, 2021. The CTA is designed to help prevent the use of anonymous shell companies in money laundering and other illicit activities by requiring U.S. companies to report personally identifiable…

On October 28, 2021, the Louisiana Department of Revenue (the “Department”) publicly announced a transfer pricing managed audit program in Revenue Information Bulletin No. 21-029 (October 26, 2021). Louisiana’s program is similar to managed audit programs recently introduced in other states, such as Indiana and North Carolina. However, unlike some other states, Louisiana’s managed…

In the United States, name, image, and likeness (“NIL”) are the three elements that make up a legal concept known as the right of publicity. The right of publicity is an intellectual property right that protects against the misappropriation of a person’s name, likeness, or other forms of personal identity—such as nickname, pseudonym, voice, signature,…

Effective today, July 1, the NCAA has officially suspended the organization’s rules prohibiting athletes from selling the rights to their names, images, and likenesses (“NIL”). Despite the NCAA’s longstanding principles that payments to athletes while attending college would undermine amateurism of college athletics, the organization’s Division I board of directors decided Wednesday that it would…

The practice of engineering is regulated through licensure in all states.  Whether and under what conditions a state will allow engineers to practice through limited liability entities (“LLEs”) (e.g., corporations, limited liability companies, and limited liability partnerships) varies from state to state:

  • Some states do not regulate engineering LLEs at all.
  • Some states

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