What is the registered agent?
A registered agent is a specific individual who is appointed to send and receive various legal documents for a business entity. Business laws are slightly different from place to placement, but the general function of a registered agent is quite typical in most places, including jurisdictions inside the United States, Canada, the United Kingdom and Australia. If the company is aside from the action, the process of the process, summons, complaints, answers and other legal documents will usually be sent, which is then responsible for notifying the relevant owners of companies on documents. In other cases, it is responsible for part of the annual maintenance of business. For example, it may be responsible for reminding business partners to report annual reports, taxes or other annual documents with relevant state or federal agencies.
Depending on the size of business, different people can be acceptable candidates for a registered agent Posice. If only one person is owned and operation, this maya person to act as a registered agent. If a small and owned by several people, one of these owners or one of the shareholders, employees, partners or members, can also work as an agent. Some business entities are much larger. In these cases, the outside third party, usually in a law firm or service company, may be the best choice for the position of the agent - although an internal business member can be used.
There are several advantages that determine a third party that will act as an agent. For example, the name and address of the registered agent are publicly listed in all legal documents, including documents based on a business entity. By hiring a third party, it gives the owners of business some public anonymity and keeps the gossip at a minimum. For example, employees can wonder why the summoning is sent to the owner of the company where these employees would notThey knew of any legal proceedings if the summons were sent to the address outside the locality. In addition, most third -party agents have detailed submission systems that inform businesses about the administration of deadlines, thus preventing the increase in late fees.
If the registered agent does not perform its work duties, it may be unfortunate for the business entity. For example, if the action is filed against the company and the owner is not informed about the action in time, the plaintiff may win the case by default. In addition, it has many jurisdictions of sanctions for companies that do not have an agent. In some cases, agent maintenance failure may mean that the company's legal status may be canceled or rigid fees can be assessed.