Louisiana Franchise Forms - Louisiana Franchise Form
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Louisiana Franchise Forms FAQ La Franchise Form
What is a franchise?
There is a definition of a franchise which has been developed by the Federal Trade Commission. Basically, a franchise involves an owner of a trademark, trade name and/or copyright giving others a license under certain conditions to use these trademarks, trade names or copyrights in providing goods or services to the public. The franchisor is the party who grants the franchise, and the franchisee is the party who receives the franchise.
What is the legal relationship between a franchisor and franchisee?
Technically, the relationship between a franchisor and franchisee is a relationship between two independent contractors. Their rights are determined by the franchise agreement. A franchise then is not a separate business entity, but is a business relationship between two separate business organizations such as a sole proprietorship, a corporation, or a partnership. The relationship between the franchisor and franchisee is controlled by the franchise contract. A corporation, sole proprietorship, or partnership may own the franchise contract or may be the entity entering into the franchise contract.
What laws govern franchises?
There are laws that restrict termination of some franchises. In some states, prior notice of termination is required. Owners of automobile dealership franchises are protected from termination of their dealerships in bad faith. This protection is provided by the Federal Automobile Dealers Franchise Act.
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What are Articles of Incorporation?
Articles of Incorporation are legal documents that outline the key details and structure of a corporation. In simple terms, it is like a "birth certificate" for a company, declaring its existence and providing important information about its purpose, ownership, and operations. In the state of Louisiana, the Articles of Incorporation need to be filed with the Secretary of State's office to legally form a corporation. This document typically includes the corporation's name, the purpose of the business, the names and addresses of its initial directors, the number of shares the corporation is authorized to issue, and other important details about its structure. The Articles of Incorporation serve as a foundation for the corporation and are an essential starting point for operating a business in Louisiana.
What to Include in Articles of Incorporation
Articles of Incorporation are legal documents that must be filed with the state of Louisiana when starting a corporation. They serve as the foundation of the business and provide important information about the company. In Louisiana, it is essential to include the company's name, address, and purpose, which explains the primary reason for the corporation's existence. Additionally, the Articles of Incorporation should specify the number of shares the corporation is authorized to issue and provide details about the registered agent who will receive legal documents on behalf of the company. It is also crucial to include the names and addresses of the initial directors who will be responsible for managing the corporation. By including these important details, the Articles of Incorporation will help establish the corporation in compliance with Louisiana's legal requirements.
1. Full Name of Corporation
The full name of the corporation in Louisiana is a legal term used to identify a business entity registered in the state of Louisiana. This unique combination of words and letters helps to distinguish one corporation from another and is important for legal and organizational purposes. By using simple human words and state phrases, it ensures that people can easily identify and understand the full name of the corporation, making it easier for them to navigate and engage with the business within the state of Louisiana.
2. Principal Place of Business
The principal place of business refers to the main location where a company carries out its daily operations and conducts most of its activities. In the state of Louisiana, it means the primary physical address where a business is established and performs its essential tasks. This could be an office, a store, a factory, or any space where the majority of the company's work takes place. It is important for businesses to have a principal place of business as it is where important decisions are made, employees work, and customers interact with the company.
12. Limitation of Director’s Liability
The limitation of director's liability in Louisiana refers to the protection given to directors of a company from being personally liable for certain actions or decisions made on behalf of the company. This means that directors are generally shielded from being held responsible for any losses or damages incurred by the company, as long as they acted in good faith and within the scope of their duties. However, it's important to note that directors can still be held accountable for certain situations, such as fraud or illegal actions, where they may not be protected by this limitation. Overall, this limitation provides directors with a level of protection while ensuring they remain accountable for their actions.
