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Business dissolution refers to the process of dissolving a company's legal existence. The business owner(s) will end all operations and terminate the entity. Business dissolution is the final step in liquidating a company and bringing it to an end.
There are typically many actions involved in a business dissolution that must be taken care of to properly bring a business to a legal close. Such actions may include:
Without handling business dissolution properly, the business owners could still owe taxes, annual fees, and other fines even after the business is terminated.
The process of business dissolution can be complex and lengthy, as there are many steps that must be followed. In order for the dissolution to be legal, the company will have to sell all assets, pay off all lenders, and distribute any remaining assets to its shareholders. Business dissolution lawyers specialize in the liquidation and dissolution of businesses, and can thus best help in this process. A business dissolution lawyer can advise you in legal issues, contracts, finances, and liabilities that may be involved. An experienced lawyer will be able to help you develop a comprehensive plan that will protect you and your assets while you legally and successfully dissolve your business.
If you need to dissolve your business, or if you have any questions about business dissolution law, Attorney Search Network can provide you with a referral to a business law lawyer in your area that can help. Our attorneys are well versed in business dissolution legal issues and we can ensure they will provide you with the help you need.
If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out out online form for your business dissolution lawyer referral.