why the right registered agent is essential for your business

Post on 08-Jul-2015

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Corporations and Limited Liability Companies (LLCs) are required by state law to have an address where they can receive important legal and tax documents during all business hours. The person or firm receiving these documents is known as the company's "Registered Agent." For reasons including convenience and reliability, most established businesses choose a third-party Registered Agent (like The Company Corporation) to handle their legal documents.

TRANSCRIPT

Why the Right Registered Agent is Essential to Your Business

The Right Registered Agent

What is a Registered Agent?

The Right Registered Agent

A Registered Agent is a business or individual who

receives and forwards important Service of

Process on behalf of a corporation or LLC.

The Right Registered Agent

What is Service of Process?

The Right Registered Agent

• Tax Documents

• Foreclosures

• Garnishments

• Workers Compensation

• Subpoena

• Lawsuits

• Personal Injury

• Wrongful Death

• Class Action

• Discrimination

The delivery of a summons, writ, or subpoena to the opposing party in

a lawsuit.

Types of SOP:

Lifecycle of Service of Process

Customer slips and falls in your store

Injured customer files lawsuit

Attorney drafts legal documents and notice of lawsuit

Notice of lawsuit delivered to Registered Agent

Lifecycle of Service of Process

If a Registered Agent is Available• Documents are received

• Documents are forwarded to the legal

contact on file

If your Registered Agent is Not Available• Documents are returned to sender

• The lawsuit may proceed without your

participation

• You may be fined or otherwise penalized

• Your corporate veil could be pierced

A good Registered Agent may also:• Summarize key points regarding the SOP

• Notify you via email

• Attempt to reach you by phone or email

when the SOP cannot be delivered

The Right Registered Agent

Why does my company need

a Registered Agent?

The Right Registered Agent

• Most states require a company to name a

Registered Agent for the purpose of a legal

address

• Without a Registered Agent, a company may fall

out of good standing

• Any company can be sued, even by mistake

The Right Registered Agent

What happens if my

company does not have a

Registered Agent?

The Right Registered Agent

• Weakened Corporate Veil

• Loss of good standing with the state

• Legal documents may not be received

• Potential fines and penalties

• Default court judgments

The Right Registered Agent

Who can serve as

Registered Agent?

The Right Registered Agent

• Attorney

• CPA

• Service Company

• Self Representation

The Right Registered Agent

What if I am already my own

Registered Agent?

The Right Registered Agent

• Changing a Registered Agent can be done with the

Secretary of State

• Some third party agents will waive service fees

when changing agent to them.

• A good registered agent will be able to assist you

with completing the filing.

The Right Registered Agent

What if my state doesn’t

require a

Registered Agent?

The Right Registered Agent

• A state may not require a Registered Agent, but

all states require a name and address to send

service of process

• A good Registered Agent is more than just an

address for service of process

10 Things to Look for in a Registered Agent

1. Availability

2. Reliability

3. Discretion

4. Offices in all 50 states

5. Offers unlimited phone support

6. Helps to keep your business in compliance

7. Experience

8. Provides online tools

9. Provides education

10. Provides resources to grow your business

For more information on Registered Agent or for

answers to your other business questions, please contact:

1-800-818-6082

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