Form a Hawaii Limited Liability Company to Control Risk
A Hawaii LLC creates a separate legal business entity that provides limited liability protection to protect the owners (or members) from the debts of the business. Therfore, in the event of a lawsuit, the members of the LLC are not responsible for the debts and obligations of the company. The lawsuit would only have an affect on the business assets of the company. Your personal assets will be protected.
Things to remember in naming your LLC
In Hawaii, a requested name or mark that is identical or similar to a registered name or mark currently on file will be rejected. A name will be considered identical or similar if the only difference from a name currently on file is the phrase “of Hawaii” or the word “Hawaii” or the abbreviation of “HI” at the end. Factors that are used by the Department of Commerce and Consumer Affairs when deciding if the name is considered identical or too similar to one currently on file are: Purely geographic names, or landmarks registered with a recognized historical registry, those names will not be registered even with a different business suffix, affix or prefix.
Do you need a registered agent?
When filing a LLC with Hawaii or with any state, you will need a registered agent. It is mandatory that a registered agent be nominated. The registered agent must be an individual who is a resident of the state and has a physical address in the state.
The role of the registered agent is to be the service of process recipient when the state needs to serve process. In the event of a lawsuit, the regsitered agent will be served process and legal documents will be given.
In most cases, the registered agent is one of the members of the LLC. The registered agent isn't tied to the company legally. Therefore the registered agent does not have to be an officer or owner of the company.
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