How to Apply for a Food Truck Permit

After deciding that New Orleans’ food truck laws were outdated the City Council and Mayor Landrieu's office passed new food truck laws in July 2013. They went into effect this past January. The trucks have been an asset in feeding under-served areas, and the crowds ensure safer streets. A current revision to the city's ... Continue Reading

Is the Jimmy John’s Non-Compete Agreement Fair?

You've probably heard of non-compete contracts or non-compete clauses within an existing employment contract. The idea of such a clause is to ensure that trade secrets, which are learned by employees on the job, such as recipes or formulas, or even a particular way of doing things, that gives a business a significant advantage ... Continue Reading

How to Change Your LLC Address with the State

After our recent changes, we had to update our address with the Louisiana Secretary of State. If you move your business, you'll have to do that, too, so I am going to take you through a step-by-step process. You can also watch the video by clicking here. First of all, before you access the Louisiana Secretary of State website, ... Continue Reading

Buy-Sell Agreement Valuation Methods

I've already covered why buy-sell agreements are important to small business owners, and the triggers that invoke that contract. In order to construct a valid buy-sell agreement, however, a proper valuation must be placed on the business. There are three basic valuation methods used to determine the value of each partner’s ... Continue Reading

Common Triggers in a Buy-Sell Agreement

Earlier last week, we discussed buy-sell agreements. Since a buy-sell is simply a contract between business partners, the partners can agree on the triggers that will force one business partner to buy out the other partner’s share. Here’s a brief explanation to help detail some of those triggers. Divorce In Louisiana, a ... Continue Reading

When is my New Orleans Occupational License Tax Due?

Every business operating in New Orleans is required to have an occupational license issued by the City. That occupational license is issued annually, and it’s essentially a permit that lets you operate, and a tax based on the revenue your company generates. Since it’s an annual permit, you must renew it each year. According ... Continue Reading

If you have a business partner, you need a buy-sell agreement

A buy–sell agreement, or a buyout agreement, is a contract between co-owners of a business that addresses the situation if a co-owner is, for any imaginable reason, no longer a part of the business. For example, if a co-owner wants out of the business, wishes to retire, goes bankrupt, becomes disabled, gets divorced, dies or ... Continue Reading