What are Business Closing Documents?
As with certain businesses, there may come a time where the business will change ownership. The ownership change may come through an acquisition or a merger with another business. Additionally, businesses may need to dissolve. Irrespective of what decision is made with respect to the business, having documentation to memorialize the transaction is essential.
Most individuals believe closing a business involves simply ceasing to conduct operations. While this may be true of sole proprietorship businesses, companies do not have this luxury. Corporations and LLCs are separate legal entities. As a result, they require properly shutting down the company. This dissolution proceeding often involves meeting(s) of owners and resolutions agreeing to the dissolution. Additionally, if the company has any outstanding liabilities, these matters would also h