Dissolution of Corporation
/ˌdɪsəˈluːʃən əv ˌkɔːrpəˈreɪʃən/
Definitions
- (n.) The formal process by which a corporation legally ceases to exist and terminates its business operations.
The company filed for dissolution of corporation after settling all debts.
- (n.) A legal proceeding that ends the corporation's existence, involving liquidation of assets and distribution to shareholders.
The dissolution of corporation was approved by the board and shareholders alike.
Forms
- dissolution of corporation
- dissolutions of corporation
Related terms
See also
Commentary
Dissolution of corporation typically requires compliance with statutory procedures and affects corporate rights and obligations; drafting should clearly distinguish voluntary versus involuntary dissolution.
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.