Career Questions and Answers
What is the role of an attorney in a LLC?
Asked by Steven
I've filed a small claims lawsuit against a restaurant, a LLC. Their agent, an attorney, has been in contact with me, and now I'm wondering what exactly his role is in the LLC. What does the agent do exactly? How is he paid? Does he take a certain percentage of the restaurant's profits in return for his service? I guess what I am most interested in is who is paying the agent for his time in handling the lawsuit I've filed?
A:
Best Answer:
An "agent" of a corporation or an LLC is a legally designated person/law firm that handles the legal work for the company, has assisted in the incorporation of the company, and has the legal right to speak for the company. In legal terms the agent has the authority to speak for the company and to bind the company in any agreement.
Many corp/llcs have a lawyer or a law firm as their agent because the agent handles the legal issues, such as incorporation, yearly reporting to the state, and other legally required reporting to the state and to the federal government.
How the agent is paid depends on the individual company, unless your state law requires a certain type of payment. You may want to look at your state's website regarding incorporating or forming an LLC.
In many cases the lawyer/law firm who is appointed as agent bills the company for any work. That is billing for incorporation, doing annual reports, and handling cases such as yours. Especially when the company is not making a lot of money, hourly billing would be more than a percentage of profits. BUT that depends on the agreement between the agent and the company.
Make no mistake the agent is completely loyal to this company. That is his job. You may want to hire a local attorney to deal with the restaurant's attorney (their agent).
Illinois attorney
Answered by CatLaw
Best Answers are selected by the person who asked the question or other Yahoo! users.
Find out more at
Yahoo! Answers