Mills, Turansky & Cox

Description

David Turansky & Richard Griffith are solo practitioners who are sharing office space. We have been a part of the Shreveport legal community for many years. We provide a range of practice areas, enabling us to handle your legal problems with innovative thinking and mature judgment. Richard E. Griffith's practice areas include: Divorce & Family Law , Child Custody, Child Support, Adoption, and Collections.

A corporation is legal entity wholly separate and apart from its owners (the shareholders or "stockholders"). A Louisiana corporation is formed by filing the articles of incorporation with the Louisiana Secretary of State. The articles of incorporation must contain: the name of the corporation, the purpose or purposes for which the corporation is formed, or that the corporation can engage in any lawful activity allowed by Louisiana law, the duration of the corporation or that it has a perpetual existence, and the number of shares the corporation shall have authority to issue.

A typical buy-sell agreement for a family business provides that, on the death or departure of one shareholder, the remaining shareholders have the right to purchase his or her shares. Those participating in the buyout usually acquire those shares in an amount commensurate with their holdings. An alternative could give the corporation itself the right to purchase the shares. However, this option may bring into play laws for the protection of creditors that limit the power of corporations to purchase their own shares.

When Mark was hired in Minnesota to work for a manufacturer of medical devices, he signed an agreement not to compete with the employer, for two years after leaving, and in any area where the employer marketed its products. In a typical "choice-of-law" clause, the agreement also said that it was governed by the laws of the state where the employee last worked for the employer.

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