Business Dissolution
/ˈbɪznəs dɪsəˈluːʃən/
Definitions
- (n.) The legal process by which a business entity ceases operations, settles debts, distributes remaining assets, and formally terminates its existence.
The partners filed the necessary documents to initiate the business dissolution.
Forms
- business dissolution
Related terms
See also
Commentary
Business dissolution involves not only ending operations but also legal compliance with state and federal requirements for closing a business entity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.