Guide: Modernizing Legal Entity Management
Our latest guide explores how a modern, structured approach to entity management can mitigate risk and be an asset to your organization – and offers advice about how to upgrade your program.
In recent years, a growing number of business leaders have begun to reassess how their organizations approach entity management. New regulations have made maintaining entity compliance more challenging – and an increase in new business activity has made proper entity management more necessary.
Against that backdrop, the most common way of managing entities – with a spreadsheet and the assistance of a national registered agent (RA) – no longer suffices. If your organization wishes to operate unencumbered across jurisdictions, or minimize risks while scaling or restructuring, it must invest in a modern, structured entity management program that will reliably keep entities compliant.
The Value of a Modern Entity Management Program
Improperly managed entities can significantly interrupt your organization’s ability to operate across multiple jurisdictions, scale, and acquire new or divest outgrown assets. Studies have shown that poorly managed legal entities have the power to damage an organization’s reputation, lower its perceived value, and even kill deals.
However, when entities are properly managed, it’s far easier to contain those foreseeable risks. The most reliable way to maintain legal entities is with a modern entity management program that leverages software to fulfill registered agent duties and help to automate annual report, beneficial ownership (BOI) report, business license, and DBA/fictitious name filings and renewals.
In addition to benefitting businesses, modern, software-backed entity management programs help GCs to reclaim time formerly spent on grunt work, gain greater insight into the functioning of their business, and have confidence that entities won’t cause downstream business interruptions.
Modernizing Legal Entity Management: A Guide for In-House Counsel
Our latest guide, Modernizing Legal Entity Management: A Guide for In-House Counsel, is a practical resource for in-house counsel interested in updating their organization’s approach to entity management. The guide includes:
- Insight into the newly acute need for a modern entity management program
- A snapshot of what an ineffective entity management process looks like
- A comparison of traditional, national RAs and digital RAs
- Specifics to consider when comparing entity management software solutions
- An overview of how businesses and in-house counsel benefit from a modern entity management program
- A checklist to help you decide whether it’s time for your organization to level up its approach to entity management
If you think it may be time for your organization to modernize its entity management program, read the guide.
