Dissolving And Reviving Your Corporation

Here's what to consider if a dissolution may be on your horizon, and what to do to get a dissolved company back

Sometimes corporations are formed but cease being useful, or the business for which they were incorporated doesn't move forward. Dissolution, which is the process of terminating a company's existence, may be the right answer.

In the case of wholly-owned or closely-held private corporations with no significant liabilities or property that become inactive, the two main options are either to voluntarily dissolve the corporation (where the dissolution is initiated by the company's stakeholders), or to allow the corporation to eventually be involuntarily dissolved (where the dissolution is initiated by a corporate regulator).