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Lawyers Experienced in Business Dissolution in Illinois

Illinois lawyers for dissolving a business

Wheaton Attorneys Helping with Closing a Business

Deciding to end a business, whether large or small, is a big decision that should not be made without proper legal counsel. There are a wide variety of legal requirements that must be met to formally end a business partnership, including receiving permission from a board of directors, shareholders, or any other business partners who have stock in the company.

You will also need to take into consideration any tax liabilities, business contracts on property leases, and any debts 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 legally dissolve your business, a knowledgeable business law attorney should be consulted to ensure that you properly address the various legal issues involved and avoid business disputes or other issues that could affect you in the future.

The law firm of Stock, Carlson & Duff 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 your business while helping you successfully obtain 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 these contracts

Our attorneys understand that multiple types of complications and disputes can arise when choosing to dissolve a business. You will want to ensure that you are protected and that you receive the proper compensation for the time and effort you have put into building and growing the business.  We can help you figure out how much your share of the business is worth and negotiate a buyout amount, and we can help you address any concerns that may arise if your partners choose to keep the business running after you decide to leave, such as covenants not to compete that would restrict your ability to work for a competitor.

If disputes arise between you and your former partners, litigation may be necessary to resolve these issues. Our attorneys are skilled negotiators and litigators who are also familiar with using alternative dispute resolution to settle business disputes. We can work with you to reach an acceptable settlement out of court, and if necessary, we will provide you with representation inside the courtroom as you resolve these matters.

Contact Our Team of Glen Ellyn Business Law 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 & Duff LLC today by calling 630-665-2500 to arrange a consultation.

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