why the right registered agent is essential for your business
DESCRIPTION
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