Hawaii law allows a business to incorporate and be identified as its own legal entity. An incorporated business acts in its own name, whether buying and selling property, agreeing to contracts or exercising legal rights. In Hawaii, the process of incorporation is begun by filing with the Secretary of State in accordance with specific guidelines.
Benefits of Incorporation in Hawaii
An incorporated business enjoys certain advantages, the most important being a limit of liability for the shareholders. The most shareholders can lose is the amount they invest in the business. Had the business remained unincorporated, owners risk losing their personal property should the business become unable to pay its liabilities. A corporation also allows creditors in the Honolulu area to assess the credit worthiness of the business as a whole rather than that of its owners, allowing the business to get loans more easily. Finally, a corporation's ownership stake is divided into equal slices or "shares" of stock, which make investments in the business much easier to transfer.
Costs of Incorporation
Along with a possible fee to apply for incorporation in Hawaii, there are other costs that corporations incur. The most important is that a corporation is taxed as its own entity. The individual incomes of the owners are still taxed also, and this can mean the same income is taxed twice, known as double taxation. With proper planning and assistance from a local Honolulu lawyer, you can avoid this disadvantage.
Another lawyer said my case would take weeks of work and require thousands of dollars of research. Howard pointed to a very fundamental clause in the contract, wrote a letter to termite the contract and dealt with all responses from the opposing parties attorney. Very cut and dry for a fraction of the fees. Highly recommended.
An excellent Attorney with a keen legal mind. He is attentive, responsive and his fees very reasonable!
I understand many lawyers are very busy, But Howard Bender, busy as he is, responded quickly and professionally. My impression is he is a man of his word.
Howard Bender has a wealth of knowledge with trademark contract negotiations. His expertise has helped us move our case forward productively.
This lawyer is the best! He is sharp, grasps everything quickly, and has a friendly approach. He helped me out & all without fighting.