BUSINESS DISSOLUTION

We Help Clients With Voluntary and Involuntary Business Dissolutions in Florida

Before dissolving your Florida business, you must ensure that you have developed a clear, comprehensive exit strategy. Without proper planning, you may do serious damage to your financial interests, and possibly even end up in legal trouble Whether you are preparing for a voluntary dissolution or involuntary dissolution, it is crucial that you are well-prepared.

At Clearwater Business Law, we have extensive experience providing solutions-driven legal services to companies throughout the region, from issues involving business formation, to business litigation, to business dissolution. If you are considering dissolving your business, please do not hesitate to reach out to us today for immediate legal assistance.

Broadly explained, a business dissolution is the process of legally terminating a business’s existence. The dissolution of a company in Florida may occur for various reasons such as bankruptcy, retirement, or a decision by owners to pursue different ventures. When done properly, the process involves several steps to ensure that the business wraps up its operations responsibly. What exactly the business dissolution process in Florida entails will depend on many factors, including the legal structure of the business and the relationship with other parties.

Closing up your Clearwater, Florida business is not as easy as simply throwing up a ‘going out of business’ sign on your front door. There are many loose ends that you will need to tie up in order to protect yourself both financially and legally.

Of course, the exact steps that you will need to follow can vary dramatically depending on the exact nature of your business. Further, not all businesses end in the same manner. At our firm, we represent business and individual stakeholders in both voluntary business dissolutions and involuntary business dissolutions. No matter the legal form of your business, our team can help. We assist all types of Florida businesses with dissolution issues, including:

• Sole proprietorships;
• General partnerships;
• Limited partnerships;
• Limited liability companies (LLCs); and
• Corporations.

An Overview of Business Divorce

As part of our business dissolution practice, our Clearwater commercial law attorney has extensive experience helping clients navigate business divorces. Broadly speaking, a business divorce refers to the separation of business owners, which could involve either partners or shareholders, within a business entity. The separation often results from disagreements over management, personal conflicts, financial issues, or diverging visions for the company’s future. Business divorce is a complex process, as it involves the disentanglement of shared assets, responsibilities, and interests, and may necessitate legal intervention. Some of the key parts of the process typically include: 

• Evaluation of Agreements: As part of your business divorce, be sure to review any partnership or shareholder agreements that may dictate the process of separation.
• Legal Representation: You do not have to navigate a business divorce alone. A lawyer can help. Employ legal counsel to ensure fair representation and adherence to legal protocols.
• Negotiation: With business divorce, it is generally best to try to take an amicable, low-conflict approach. Engage in negotiation to reach mutual consent on a separation.
• Resolution of Debts: As part of your business divorce, you will have to figure out how to handle any debts. Determine how the business’s liabilities will be divided or settled.
• Division of Assets: Allocate company assets equitably among the separating parties. It is crucial that your personal and professional financial interests are fully protected.