Dissolution, in legal terms, refers to the formal process of terminating or ending a legal entity or relationship.
Dissolution involves formal legal procedures and may have significant legal, financial, and practical implications for the parties involved. It is essential to comply with applicable laws and procedures governing dissolution in each specific context to ensure that the process is completed correctly and legally.
The end of the legal existence of a corporation, by shareholder vote, acquisition, or order of a state attorney general.
- The termination of an organised body or legislative assembly, especially a formal dismissal.
- Disintegration, or decomposition into fragments.
- Dissolving, or going into solution.
Is the termination of a corporation’s legal existence. Dissolution may be caused many ways including, failure to file annual reports, failure to pay certain taxes, bankruptcy, or voluntary dissolution of the corporation by the shareholders and directors.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March, 2024.
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