{"id":395,"date":"2013-03-29T13:07:17","date_gmt":"2013-03-29T13:07:17","guid":{"rendered":"https:\/\/radiuslaw.com\/website\/?page_id=395"},"modified":"2013-06-05T18:14:20","modified_gmt":"2013-06-05T18:14:20","slug":"frequently-asked-questions","status":"publish","type":"page","link":"https:\/\/radiuslaw.com\/website\/business-services\/resources\/frequently-asked-questions\/","title":{"rendered":"Frequently Asked Questions"},"content":{"rendered":"


\n Frequently Asked Questions<\/span><\/br>Learn more about business formation and transactions.<\/span>
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What is a Registered Agent?<\/h5>\n

A registered agent is simply a person who can receive service of process if a company is sued and is generally the point of contact for a company for state and federal government agencies. It can be an owner of the business, or someone who has no ownership interest whatsoever. It\u2019s generally a good idea to make your attorney the registered agent of your company, since it protects privacy, assures compliance with important records and forms, and reduces some of the paperwork associated with moving locations and changing executives.
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Can I Be Personally Liable for My Business?<\/h5>\n

If you haven’t incorporated, then under the law of most states, you are personally liable for the business. However, even if you’ve incorporated, you can still be held personally liable in certain circumstances. Having said that, if you\u2019ve properly capitalized your business, made timely tax returns and state filings, and engage in lawful business practices, you shouldn\u2019t worry too much. The process of making a business owner personally liable for the liabilities of the corporation is called \u201cpiercing the corporate veil,\u201d which generally only occurs when the business isn\u2019t properly maintained or is engaging in wrongdoing. We can help you structure your business to significantly reduce this risk.
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I Run a Small, Part-Time Business; Do I Really Need to Incorporate?<\/h5>\n

While you can definitely operate a business without incorporating, why take on the personal risk? Incorporating can give you much more flexibility, make it easier to sell your business later on, and protect your personal assets from corporate liabilities. It\u2019s not that expensive to incorporate, and the advantages far outweigh the disadvantages.
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Should I Register as a C Corporation, S Corporation, LLC, or LLP?<\/h5>\n

It depends\u2014each has unique advantages and disadvantages, and depending on how your business operates, some may be more suitable than others. However, it\u2019s fairly simple to change the form of the business entity if need be. The main factors involved in deciding which an entity type are:<\/p>\n