As a previous post highlighted, businesses in Louisiana and elsewhere have to be conscious of the relationships they establish. Whether it is in the normal course of business or for business development, these relationships come with benefits, duties and obligations. The failure to uphold the terms of these specific relationships, such as one that is created with a fiduciary, could mean a breach. Even more so, this could mean a complex business dispute regarding the damages incurred from this breach of fiduciary duty.
In order to understand when such a breach occurs, it is important to be aware of when and how this relationship is formed. This not only establishes fiduciary responsibilities but also helps identify when a breach occurs.