Business & Corporate Law

Stock, Carlson, Oldfield & McGrath LLC

Dissolution of a Business in Illinois

Wheaton Attorneys Helping with the Dissolution of a Business

Deciding to end a business, whether large or small, is a big decision that shouldn't be taken without proper legal counsel. To formerly end a partnership may require permission from a board of directors, shareholders, or any other business partners that have stock in the company.

You will also need to take into consideration any tax liabilities, contracts on property leases, and any debt you may owe to creditors as a result of being in business. While you can simply stop renewing your business registration in order for the state of Illinois to dissolve your business, a knowledgeable business attorney should be consulted.

The law firm of Stock, Carlson, Oldfield and McGrath LLC is committed to helping business partnerships transition out of contractual agreements, as smoothly as possible. Our business law attorneys can guide you through the process of dissolving a business, while successfully obtaining the closure you need to move forward.

Experienced Attorneys Resolving Business Conflicts

When it comes to the dissolution of a business, there are a variety of factors that can determine how effective the outcome will be and what kind of compensation you will receive based on:

  • Partnership agreements made during the formation of the business
  • How assets will be divided according to those agreements
  • How partnership withdrawal will be handled according to the contract

Our attorneys understand that there can be all sorts of complications and disputes when choosing to dissolve a business, and we can help you figure out how much your share of the business is worth and negotiate a buyout amount, if your partners choose to keep the business running, after you decide to leave.

Contact Our Business Team of Attorneys

Understanding your rights and protecting them, is the first step to resolving any disputes that may occur during the dissolution of a business. Our attorneys are experienced litigators who can effectively represent you in court for all your business needs. Contact our Wheaton law firm of Stock, Carlson, Oldfield and McGrath LLC today by calling (630) 665-2500 for a consultation.

 
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