How to Dissolve Your Business
Many business owners find themselves knee deep in their business and suddenly wanting out. Regardless of the motivations, the dissolution of a business is a long process that may be eased with the help of a business lawyer.
If you are considering dissolving your business, contact the experienced Texas business attorneys of Slater Kennon & Jameson, LLP at 512-472-2431 for legal advice.
Steps to Dissolution
In order to successfully dissolve your business and reduce your chances for lawsuit and liability, consider the following steps:
- Go through all open contracts and determine the course of action you must take to end them as quickly as possible without breaching contract.
- If you have a lease agreement, contact the landlord and discuss a negotiation. If not possible, you must honor your agreement.
- Do you want to continue insurance coverage after dissolution in case of a future lawsuit? Or do you want to risk ending it immediately?
- What will you do with any inventory you may have left over? You may have to file a bulk sales report, if you choose to resell.
- How will you notify your employees? Make sure you abide by state laws in this field.
Contact Us
If you need assistance dissolving your business, or if you are seeking to explore alternatives, contact the Austin business lawyers of Slater Kennon & Jameson, LLP. Our experienced team of legal professionals can provide you with invaluable advice. Contact us today at 512-472-2431 to schedule a free initial consultation.