Since an LLC or Corporation is not an individual, it cannot have process served on it unless someone is appointed to serve as an ‘agent’ for the company. All 50 states require that such a person be appointed- This person is the Registered Agent.
There comes a time in the lifespan of just about every business when the potential for substantial growth comes to fruition, and additional capital is necessary to make that growth happen. It’s at these moments you’ll probably start looking for people to invest in your business.
Please realize that you actually may have a unique situation and there isn’t a one-size fit’s all approach or answer to a every new business situation. You will most certainly have a set of facts that are different from friend’s, mine or anybody else.
Many small business owners who operate under a corporation or LLC have heard of the term “piercing the corporate veil,” but very few have a complete understanding of its meaning and implications. We set up entities for ‘protection’, but that protection is not automatic. We have to protect the corporate veil and maintain the company […]
Thousands of business owners get taken advantage of each year with high priced asset protection plans that don’t come close to providing the protection they were promised.
Like many of us, you’ve probably dreamed of turning your favorite pastime into a regular business. What better way to be passionate about your business and make money at the same time.
I don’t recommend relying upon an entity alone as your sole asset protection strategy. Instead, I recommend a multi-barrier approach that creates as many impediments as possible between you and any would be litigant.