Many people don’t realize that not having a Lawyer act as your Registered Agent could be costly.
Starting a new business can be a daunting task, with so many decisions to make and boxes to check. One of those boxes is appointing a Registered Agent, but what does that really mean? In short, a Registered Agent is someone who acts as an official contact for legal notices and “service of process”. The Registered Agent of your company will receive important legal documents — such as a summons or notice of lawsuit.
Why should you designate a lawyer to be your Registered Agent?
It is important to note that you can appoint an individual or a business entity to be your Registered Agent. While there are many companies that offer Registered Agent services, they cannot provide the same level of confidentiality, expertise and guidance a lawyer is capable of. A lawyer who is well-versed in business law and regulations can keep you informed of any legal changes that may affect your business. Additionally, a lawyer acting as your Registered Agent is available (usually for an additional cost) to provide legal advice and support beyond just receiving and forwarding legal notices. This can be especially important if your business operates in a complex or highly-regulated industry.
When a lawyer serves as your Registered Agent, you have the added benefit of attorney-client privilege. This means that any information relating to your business that is shared between you and your lawyer in this capacity is protected by privilege rules. This can be particularly important if you are a corporation or dealing with sensitive information that you do not want to be made public. Having a Registered Agent who is also a lawyer ensures that this information is protected and kept confidential.
There are benefits to having a Registered Agent who is accessible and reliable. Lawyers are trained professionals who are held to a high standard of ethics and professionalism. They have a duty to act in a timely and efficient manner on behalf of their clients. By designating a lawyer as your Registered Agent, you are ensuring that you have someone who is dedicated to being readily available to receive and process important legal documents on your behalf. This can give you peace of mind, knowing that you will never miss a critical deadline or document.
In the event that your business is faced with legal action, having a lawyer serve as your Registered Agent can give you a strategic advantage. A lawyer who is already familiar with your business and its operations can quickly assess any legal threats and take necessary action. Additionally, if the case goes to court, having a lawyer as your Registered Agent means that they can be served legal documents directly, rather than having to go through another designated individual or process. This can save time and ensure that your legal defense is built on solid foundations.
To appoint a lawyer as your Registered Agent has many benefits for your business. These benefits include, providing legal advice and support to ensuring that you are always in compliance with legal regulations, and having a trusted legal professional on your side can help your business thrive. Not only do lawyers bring a wealth of legal knowledge and expertise, but they also offer a level of accessibility and reliability that can be hard to find in other Registered Agent services. If you’re considering appointing a Registered Agent for your business, it is worth exploring the added benefits of having a lawyer in this role.
Law 4 Small Business (L4SB). A little law now can save a lot later. A Slingshot company.
