Business organization includes everything from the formation and regulations in the startup phase to the restructuring of an existing business, succession planning and dissolution or liquidation of the business. The needs of a growing business evolve over time, and the business structure it started out with may no longer be the right one.
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Restructuring and dissolution of an existing business structure is not just about debt. It is something that most firms have to undergo at some phase in the business life cycle. For instance, a partnership firm with two partners may be dissolved if one of the partners walks out, and the firm will then need a new business structure. All such actions require careful planning and knowledge of the process, because there can be severe regulatory and tax implications for the business and for the partners if it is not done right.
Do you have legal questions regarding business organization? Our business law attorneys can help. Contact a business lawyer in your area today to learn more about how you can receive legal representation regarding business organization.
Did you know?
Licenses may be voided if you change the business structure.
Business organization can require you to reapply for some state and federal permits and licenses. Changing the business structure will require to get a new federal EIN and also apply for new state licenses to continue the same business.