Business Dissolution Lawyer, CT

At Eric Lindh Foster Law, LLC, a business dissolution lawyer in CT knows there are many reasons that people begin lawsuits. So, the chances that your business will get sued during the lifetime of your company is likely. Since cases can differ widely between transactional and litigation needs, many require specialty attorneys. It is in the best interest of your company to turn your business information over to someone that understands the particular nuances of the law you need help with. That is why you should know the different types of business lawyer firms you can hire if your company gets sued.

Types of Lawyers

The transactional lawyer can help you prepare documents, understand regulations, and advise on paperwork for your company. They can also assist in acquiring or exiting a business. However, the transactional lawyer will not represent you in court.

The litigation attorney works with lawsuits, court documents, and specialty motions. They often begin when the transaction, contract, or property deal is in dispute or has been violated. Here are three types of litigation lawyers you should know about.

Employment Lawyer

If your business has employees, it makes sense that an employee may become disgruntled with your decision to terminate them. You could also face accusations of sexual harassment or workplace discrimination. Should you get sued by a former employee, contact a business lawyer that specializes in employment law. They can best represent your business in court because the law changes at least once a year, and they stay informed.

General Lawyer

The general business lawyer can offer your company legal advice in a variety of legal matters. If you have questions about business formation, conflict resolution, corporate trial law, and general legal matters, this is the attorney you would turn to. This type of transaction and general lawyer can also help your business by reviewing or drafting documents, securing property leases, and changing business entities prior to any litigation associated with the documents.

For assistance with a business-related issue or question, don’t hesitate to call a Connecticut business dissolution lawyer from Eric Lindh Foster Law, LLC now.

Tax Lawyer

Business taxes can become very convoluted and complicated. That is why if you ever face a court case concerning money matters, you should rely on the help of an attorney that is a Certified Public Accountant or a specialized tax lawyer. Legal action surrounding your business’s finances can quickly cripple how the company functions, so it is best to have a qualified individual in charge of your case.

Business Dissolution: What You Need to Know Before Meeting with a Lawyer

Whether you’re looking to dissolve your sole proprietorship or partnership, wind down your limited liability company (LLC), or close down your corporation, it can be an overwhelming and stressful task to take on by yourself. Many business owners try to do it themselves and make mistakes that cost them thousands in taxes or liabilities. That’s why it’s a good idea to speak with an experienced dissolution lawyer before taking the next step. Here are some things you need to know about business dissolution before meeting with one of these lawyers.

What Can A Business Lawyer Do For Me

Often, people turn to business dissolution lawyers when their business is struggling and things aren’t going as well as they had hoped. Though no one wants to think about closing down their business, it might be time for you to hire a lawyer if you’re feeling stressed out or worn down by debt; feel like your livelihood is in jeopardy because of health problems; it’s taking too much time and energy and investment away from your family; or perhaps your business has simply gotten too big for you. The good news is that there are plenty of experienced attorneys who can help.

How Does a Business Dissolution Differ From Bankruptcy?

In general, businesses enter into dissolution when they no longer want to operate in their current form. In other words, they stop functioning as a going concern and are no longer able to run as is. Bankruptcy, on the other hand, is an option available only when one’s debts outweigh his or her assets. Bankruptcy occurs at both federal and state levels; there are significant differences between how each type works and who may use it. As mentioned before, bankruptcy is typically used by individuals while business dissolution applies to business entities. Individuals can file for bankruptcy under Chapter 7 of the United States Code or Chapter 13 of the United States Code. There are specific qualifications that must be met in order for these chapters to apply such as being declared bankrupt by a court of law. Furthermore, Chapter 7 bankruptcy liquidates one’s property so he or she can pay off creditors whereas Chapter 13 bankruptcy allows individuals to reorganize their finances and make payments on outstanding debt over time. Businesses typically opt for business dissolution because it is less complicated than bankruptcy due to fewer qualifications and requirements involved.

Do I Have To File For Bankruptcy First?

There are many factors that play into business dissolutions and Chapter 7 bankruptcy is just one option. A good dissolution lawyer will help you navigate whether or not you need to file for bankruptcy prior to dissolving your business.

How Long Does The Process Take?

The amount of time it takes for your business to dissolve varies from case to case. There are many reasons why dissolving a business can take longer than expected, including disputes between partners, complications related to sales or assets and even more complex issues like lawsuits. Generally speaking, however, you can expect it to take six months or more for your business dissolution process to be complete.

If you have more questions or are in need of a business dissolution lawyer, contact one today at Eric Lindh Foster Law, LLC .

Contact Eric Lindh Foster Law, LLC

Hiring a business lawyer is a smart move when you establish your company, and you should turn to them whenever you need advice. No matter what type of litigation your company experiences, a business lawyer can defend you. Working with someone who understands the court system’s intricacies and your problems can help you rest easy at night. Call a CT business dissolution lawyer from Eric Lindh Foster Law, LLC today for support.