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Clarity, structure, and expert handling from the first step to the final filing."/><link rel="canonical" href="https://simpleclosure.com/"/><meta property="og:title" content="SimpleClosure | Business Dissolution Done Right"/><meta property="og:description" content="The shutdown standard for founders and business owners. 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divide-rebrand-neutral-150"><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/how/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">How it works</h3><p class="text-body-small text-rebrand-neutral-600">A step-by-step overview of how we help companies shut down seamlessly.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></div></a><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/our-services/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">Shutdown services</h3><p class="text-body-small text-rebrand-neutral-600">Discover all we handle to ensure wind-downs are handled the right way.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></div></a><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/product/asset-hub/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">Asset Hub</h3><p class="text-body-small text-rebrand-neutral-600">Monetize your assets to recover value during shutdown.</p><div class="grid size-[26px] place-items-center 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ease-out group-hover:pointer-events-auto group-hover:translate-y-0 group-hover:opacity-100"><div class="rounded-xl bg-white px-10 py-5" style="box-shadow:0 4px 40px 0 rgba(114, 84, 53, 0.10)"><div class="divide-y divide-rebrand-neutral-150"><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/solutions/for-lawyers/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">For lawyers</h3><p class="text-body-small text-rebrand-neutral-600">Support your clients with compliant, hassle-free shutdowns.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></div></a><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/solutions/for-investors/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">For investors</h3><p class="text-body-small text-rebrand-neutral-600">Guide your portfolio companies through smooth closures.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></div></a><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/solutions/for-financial-services/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">For financial services</h3><p class="text-body-small text-rebrand-neutral-600">Make final filings and compliance easier for your clients.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></div></a><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/solutions/for-data-asset-buyers/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">For data asset buyers</h3><p class="text-body-small text-rebrand-neutral-600">Access data from companies who shut down.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></div></a></div></div></div></div><div class="group relative hidden tablet:block"><button class="flex cursor-default items-center gap-[6px] rounded-full px-4 py-2 text-body transition-colors duration-200 group-hover:bg-rebrand-green-300 group-hover:text-rebrand-neutral-950">Company<img alt="Chevron Down" loading="lazy" width="8" height="4" decoding="async" data-nimg="1" class="transition-transform duration-200 group-hover:rotate-180" style="color:transparent" src="/icons/chevron-down.svg"/></button><div class="pointer-events-none absolute top-[100%] -translate-y-1 pt-6 opacity-0 transition duration-200 ease-out group-hover:pointer-events-auto group-hover:translate-y-0 group-hover:opacity-100"><div class="rounded-xl bg-white px-10 py-5" style="box-shadow:0 4px 40px 0 rgba(114, 84, 53, 0.10)"><div class="divide-y divide-rebrand-neutral-150"><a class="group/row grid grid-cols-[165px_280px_80px] items-center gap-6 py-5 transition-all duration-200 hover:py-8" href="/about/"><h3 class="font-serif text-body-lead text-rebrand-neutral-950">About</h3><p class="text-body-small text-rebrand-neutral-600">Get to know our story, mission, and the people behind SimpleClosure.</p><div class="grid size-[26px] place-items-center justify-self-end rounded-full bg-rebrand-neutral-100 transition-all duration-200 group-hover/row:translate-x-1 group-hover/row:bg-rebrand-green-500"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" class="text-rebrand-neutral-950"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 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class="relative bg-rebrand-neutral-100 pt-24"><div class="mx-auto w-full max-w-[1440px] px-5 flex !max-w-[1168px] flex-col gap-10"><div class="mt-16 flex max-w-[582px] flex-col gap-8 text-rebrand-neutral-950 tablet:mt-20 tablet:gap-10"><h1 class="font-serif text-heading-1 tablet:text-display">The shutdown <i>standard.</i></h1><p class="text-body text-rebrand-neutral-950/80 tablet:text-body-lead">SimpleClosure is your shutdown partner for responsible closure. We bring clarity, expertise, and efficiency to the shutdown process, so you can close right and get back to building.</p><div class="flex gap-3"><a class="font-sans rounded-xl bg-rebrand-green-500 text-rebrand-neutral-950 hover:bg-rebrand-green-700 active:bg-rebrand-green-300 disabled:bg-rebrand-neutral-150 disabled:text-rebrand-neutral-500 text-body-small px-6 py-3" href="/get-started/">Let&#x27;s get started</a><a class="font-sans rounded-xl bg-transparent border border-rebrand-neutral-500 text-rebrand-neutral-950 hover:bg-rebrand-neutral-950/15 hover:border-rebrand-neutral-950 active:bg-rebrand-neutral-950/5 disabled:border-rebrand-neutral-300 disabled:text-rebrand-neutral-300 text-body-small px-6 py-3" href="/how/">See how it works</a></div></div></div><div class="relative mx-auto mt-10 hidden w-full max-w-[1168px] px-5 tablet:block"><img alt="Shutdown Standard" loading="lazy" width="1248" height="770" decoding="async" data-nimg="1" class="mx-auto w-full rounded-[20px] rounded-b-none" style="color:transparent" src="/_next/static/media/hero.d1513a3f.webp"/></div><div class="relative mt-10 aspect-[5/4] w-full overflow-hidden tablet:hidden"><img alt="Shutdown Standard" fetchPriority="high" decoding="async" data-nimg="fill" class="object-cover object-[95%_top]" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/hero.d1513a3f.webp"/></div><div class="absolute bottom-0 left-0 right-0 bg-rebrand-neutral-950/80 py-3 text-rebrand-neutral-50"></div></section><section style="height:200vh" class="relative"><div style="height:100vh" class="sticky top-0 flex items-center justify-center overflow-hidden"><h2 class="pointer-events-none relative z-10 max-w-[1000px] text-center font-serif text-display text-rebrand-gold-700 tablet:text-[192px] tablet:leading-[85%] tablet:tracking-[-5.76px]"><span class="block" style="opacity:1"><span class="opacity-0">Built for founders and their partners.</span></span><div class="hidden tablet:contents"><div class="absolute hover:z-50 left-10 top-20 pointer-events-auto" style="opacity:0;transform:translateY(-300px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#4EDA7C"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For lawyers</small></div><img alt="For lawyers" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-lawyers.8c32d533.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/solutions/for-lawyers/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">A specialist partner who handles your client’s shutdown without disrupting the relationship you’ve built.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/solutions/for-lawyers/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div><div class="absolute hover:z-50 right-20 top-20 pointer-events-auto" style="opacity:0;transform:translateX(300px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#7FB2DB"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For founders</small></div><img alt="For founders" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-founders.f5fc4ece.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/our-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">Clarity, a structured path through, and a more responsible ending for a moment that deserves one.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/our-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div><div class="absolute hover:z-50 bottom-20 right-20 pointer-events-auto" style="opacity:0;transform:translateY(400px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#AD7B47"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For financial services</small></div><img alt="For accountants" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-accountants.9f18b2c1.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/solutions/for-financial-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">Professional closure handling that complements your work—not competes with it.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/solutions/for-financial-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div><div class="absolute hover:z-50 bottom-10 left-20 pointer-events-auto" style="opacity:0;transform:translateX(-300px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#D26596"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For investors</small></div><img alt="For investors" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-investors.8b1d1c2d.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/solutions/for-investors/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">Clean portfolio company closure, handled with the speed and rigor required to protect what matters.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/solutions/for-investors/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div></div><div class="contents tablet:hidden"><div class="absolute hover:z-50 left-[15px] top-[-135px] pointer-events-auto" style="opacity:0;transform:translateY(24px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#4EDA7C"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For lawyers</small></div><img alt="For lawyers" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-lawyers.8c32d533.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/solutions/for-lawyers/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">A specialist partner who handles your client’s shutdown without disrupting the relationship you’ve built.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/solutions/for-lawyers/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div><div class="absolute hover:z-50 right-0 top-[-20px] pointer-events-auto" style="opacity:0;transform:translateX(24px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#7FB2DB"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For founders</small></div><img alt="For founders" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-founders.f5fc4ece.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/our-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">Clarity, a structured path through, and a more responsible ending for a moment that deserves one.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/our-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div><div class="absolute hover:z-50 bottom-[-155px] right-[55px] pointer-events-auto" style="opacity:0;transform:translateY(-24px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#AD7B47"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For financial services</small></div><img alt="For accountants" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-accountants.9f18b2c1.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/solutions/for-financial-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">Professional closure handling that complements your work—not competes with it.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/solutions/for-financial-services/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div><div class="absolute hover:z-50 bottom-[75px] left-0 pointer-events-auto" style="opacity:0;transform:translateX(-24px)"><div class="relative flex size-[120px] tablet:size-[200px]"><div class="absolute z-20 size-[120px] tablet:size-[200px]"><div class="absolute bottom-[100%] mb-2 flex items-center gap-1"><div class="size-3 rounded-full" style="background-color:#D26596"></div><small class="whitespace-nowrap font-sans text-body text-rebrand-neutral-950">For investors</small></div><img alt="For investors" loading="eager" decoding="async" data-nimg="fill" class="rounded-lg object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/for-investors.8b1d1c2d.webp"/><a class="absolute bottom-2 right-2 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500 text-rebrand-neutral-950 tablet:hidden" href="/solutions/for-investors/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div><div class="relative z-10 hidden w-[120px] rounded-lg bg-rebrand-neutral-100 p-4 text-left font-mono text-body-small text-rebrand-neutral-950 transition-transform duration-300 ease-out tablet:block tablet:w-[200px]">Clean portfolio company closure, handled with the speed and rigor required to protect what matters.<a class="absolute bottom-4 right-4 grid size-[26px] place-items-center rounded-full bg-rebrand-green-500" href="/solutions/for-investors/"><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 13 11" width="12" height="11"><path fill="currentColor" d="m6.957 10.892-.998-.97 3.82-3.82H0V4.79h9.78L5.96.97 6.956 0l5.475 5.446z"></path></svg></a></div></div></div></div></h2></div></section><section><div class="mx-auto w-full max-w-[1440px] px-5 flex flex-col gap-6 tablet:flex-row"><div class="flex max-w-[767px] flex-col gap-6 tablet:px-32"><span style="opacity:0;transform:translateY(30px)"><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 bg-rebrand-gold-100">WHAT WE DO</div></span><div class="flex flex-col gap-16"><h2 class="font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3" style="opacity:0;transform:translateY(30px)">There is a right way to shut down—we&#x27;ve helped <i>thousands</i> of founders do it.</h2><span style="opacity:0;transform:translateY(30px)"><div class="flex w-full flex-col gap-6"><div class="relative flex origin-left flex-col gap-5 border-t border-rebrand-neutral-150 pt-5 last:border-b last:pb-5"><div class="absolute -top-[1px] left-0 h-px w-full origin-left transition-none bg-rebrand-gold-700" aria-label="Progress bar for We build your shutdown plan and manage execution" aria-valuemax="100" aria-valuemin="0" aria-valuenow="0" role="progressbar" style="transform:scaleX(0)"></div><button aria-controls="auto-accordion-panel-0" aria-expanded="true" class="flex w-full items-start justify-between gap-6 text-left text-rebrand-neutral-950" id="auto-accordion-button-0" type="button"><span class="grow font-medium text-rebrand-neutral-950">We build your shutdown plan and manage execution</span><span aria-hidden="true" class="shrink-0">–</span></button><div aria-labelledby="auto-accordion-button-0" class="max-w-[80%] text-balance text-rebrand-gray animate-[fadeIn_0.3s_ease-in]" id="auto-accordion-panel-0" role="region">Assessment of your company structure, liabilities, and obligations—translated into a clear, sequenced roadmap. We manage legal filings, tax compliance, and execution from start to finish.</div></div><div class="relative flex origin-left flex-col gap-5 border-t border-rebrand-neutral-150 pt-5 last:border-b last:pb-5"><div class="absolute -top-[1px] left-0 h-px w-full origin-left transition-none bg-rebrand-gold-700" aria-label="Progress bar for We handle all dissolution filings and state withdrawals" aria-valuemax="100" aria-valuemin="0" aria-valuenow="0" role="progressbar" style="transform:scaleX(0)"></div><button aria-controls="auto-accordion-panel-1" aria-expanded="false" class="flex w-full items-start justify-between gap-6 text-left text-rebrand-neutral-950" id="auto-accordion-button-1" type="button"><span class="grow font-medium text-rebrand-neutral-950">We handle all dissolution filings and state withdrawals</span><span aria-hidden="true" class="shrink-0">+</span></button></div><div class="relative flex origin-left flex-col gap-5 border-t border-rebrand-neutral-150 pt-5 last:border-b last:pb-5"><div class="absolute -top-[1px] left-0 h-px w-full origin-left transition-none bg-rebrand-gold-700" aria-label="Progress bar for We close payroll accounts and handle final tax compliance" aria-valuemax="100" aria-valuemin="0" aria-valuenow="0" role="progressbar" style="transform:scaleX(0)"></div><button aria-controls="auto-accordion-panel-2" aria-expanded="false" class="flex w-full items-start justify-between gap-6 text-left text-rebrand-neutral-950" id="auto-accordion-button-2" type="button"><span class="grow font-medium text-rebrand-neutral-950">We close payroll accounts and handle final tax compliance</span><span aria-hidden="true" class="shrink-0">+</span></button></div><div class="relative flex origin-left flex-col gap-5 border-t border-rebrand-neutral-150 pt-5 last:border-b last:pb-5"><div class="absolute -top-[1px] left-0 h-px w-full origin-left transition-none bg-rebrand-gold-700" aria-label="Progress bar for We help recover value from what you built" aria-valuemax="100" aria-valuemin="0" aria-valuenow="0" role="progressbar" style="transform:scaleX(0)"></div><button aria-controls="auto-accordion-panel-3" aria-expanded="false" class="flex w-full items-start justify-between gap-6 text-left text-rebrand-neutral-950" id="auto-accordion-button-3" type="button"><span class="grow font-medium text-rebrand-neutral-950">We help recover value from what you built</span><span aria-hidden="true" class="shrink-0">+</span></button></div><div class="relative flex origin-left flex-col gap-5 border-t border-rebrand-neutral-150 pt-5 last:border-b last:pb-5"><div class="absolute -top-[1px] left-0 h-px w-full origin-left transition-none bg-rebrand-gold-700" aria-label="Progress bar for We coordinate stakeholders and finalize documentation" aria-valuemax="100" aria-valuemin="0" aria-valuenow="0" role="progressbar" style="transform:scaleX(0)"></div><button aria-controls="auto-accordion-panel-4" aria-expanded="false" class="flex w-full items-start justify-between gap-6 text-left text-rebrand-neutral-950" id="auto-accordion-button-4" type="button"><span class="grow font-medium text-rebrand-neutral-950">We coordinate stakeholders and finalize documentation</span><span aria-hidden="true" class="shrink-0">+</span></button></div></div></span></div></div><span class="block w-full tablet:w-auto" style="opacity:0;transform:translateY(30px)"><div class="group relative overflow-hidden aspect-[650/700] w-full tablet:aspect-auto tablet:h-[700px] tablet:w-[650px]"><div class="absolute inset-0 z-10 [&amp;_video]:h-full [&amp;_video]:w-full [&amp;_video]:object-cover overflow-hidden rounded-2xl"><img alt="background" loading="lazy" decoding="async" data-nimg="fill" class="object-cover" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/_next/static/media/background.a5ea2ff3.webp"/></div><div class="relative z-20 grid h-full w-full place-items-center p-12 tablet:p-16"><div class="transition-transform duration-300 ease-in-out"><img alt="product shot" loading="lazy" width="1036" height="1182" decoding="async" data-nimg="1" class="h-auto w-full max-w-[518px] tablet:h-[587px] tablet:w-[518px]" style="color:transparent" src="/rebrand/product-fg.webp"/></div></div></div></span></div></section><section><div class="mx-auto w-full max-w-[1440px] px-5 flex flex-col items-center gap-12 tablet:gap-16"><div class="flex max-w-[750px] flex-col items-center justify-center gap-6"><span style="opacity:0;transform:translateY(30px)"><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 bg-rebrand-gold-100">THE PROCESS</div></span><h2 class="text-center font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3" style="opacity:0;transform:translateY(30px)">A clear process that <i>begins</i> with understanding and ends with <i>closure</i>.</h2></div><div class="flex w-full flex-wrap justify-center gap-8 tablet:gap-2" style="opacity:0;transform:translateY(30px)"><div class="flex basis-full flex-col gap-6 tablet:basis-[32.8%] tablet:gap-10"><div class="group relative overflow-hidden aspect-square w-full overflow-hidden rounded-2xl"><div class="absolute inset-0 z-10 [&amp;_video]:h-full [&amp;_video]:w-full [&amp;_video]:object-cover "><video src="/_next/static/media/bg1.cfaeef3d.mp4" poster="/_next/static/media/bg1-poster.122ba8b2.webp" muted="" loop="" playsInline="" preload="none"></video></div><div class="relative z-20 grid h-full w-full place-items-center rounded-2xl"><div class="transition-transform duration-300 ease-in-out"><img alt="" loading="lazy" width="300" height="300" decoding="async" data-nimg="1" class="p-2" style="color:transparent" src="/_next/static/media/fg1.fc049279.webp"/></div></div></div><div class="flex flex-col gap-3 pr-8 tablet:gap-6"><div class="flex flex-col gap-1 text-body-lead"><p class="text-rebrand-neutral-500">Step one</p><p class="text-rebrand-neutral-950">Tell us about your company</p></div><p class="text-body text-rebrand-neutral-500">Answer a few questions about your structure, operations, and obligations. We’ll build a custom shutdown plan tailored to your situation.</p></div></div><div class="flex basis-full flex-col gap-6 tablet:basis-[32.8%] tablet:gap-10"><div class="group relative overflow-hidden aspect-square w-full overflow-hidden rounded-2xl"><div class="absolute inset-0 z-10 [&amp;_video]:h-full [&amp;_video]:w-full [&amp;_video]:object-cover "><video src="/_next/static/media/bg2.ba5eb169.mp4" poster="/_next/static/media/bg2-poster.1e4071e6.webp" muted="" loop="" playsInline="" preload="none"></video></div><div class="relative z-20 grid h-full w-full place-items-center rounded-2xl"><div class="transition-transform duration-300 ease-in-out"><img alt="" loading="lazy" width="300" height="300" decoding="async" data-nimg="1" class="p-2" style="color:transparent" src="/_next/static/media/fg2.8cdc6f32.webp"/></div></div></div><div class="flex flex-col gap-3 pr-8 tablet:gap-6"><div class="flex flex-col gap-1 text-body-lead"><p class="text-rebrand-neutral-500">Step two</p><p class="text-rebrand-neutral-950">We get to work and run our process</p></div><p class="text-body text-rebrand-neutral-500">You&#x27;re paired with a dedicated team who handles every filing, communication, and compliance step.</p></div></div><div class="flex basis-full flex-col gap-6 tablet:basis-[32.8%] tablet:gap-10"><div class="group relative overflow-hidden aspect-square w-full overflow-hidden rounded-2xl"><div class="absolute inset-0 z-10 [&amp;_video]:h-full [&amp;_video]:w-full [&amp;_video]:object-cover "><video src="/_next/static/media/bg3.c2a5ab2f.mp4" poster="/_next/static/media/bg3-poster.312bfdb4.webp" muted="" loop="" playsInline="" preload="none"></video></div><div class="relative z-20 grid h-full w-full place-items-center rounded-2xl"><div class="transition-transform duration-300 ease-in-out"><img alt="" loading="lazy" width="300" height="300" decoding="async" data-nimg="1" class="p-2" style="color:transparent" src="/_next/static/media/fg3.0cb01e51.webp"/></div></div></div><div class="flex flex-col gap-3 pr-8 tablet:gap-6"><div class="flex flex-col gap-1 text-body-lead"><p class="text-rebrand-neutral-500">Step three</p><p class="text-rebrand-neutral-950">Track progress with peace of mind</p></div><p class="text-body text-rebrand-neutral-500">Follow every step in your dashboard. When we’re done, you’re done: compliantly, cleanly, and fully documented.</p></div></div></div></div></section><section><div class="mx-auto w-full max-w-[1440px] px-5"><div aria-label="Slideshow" aria-roledescription="carousel" class="overflow-hidden rounded-2xl transition-colors duration-300 ease-out bg-rebrand-blue-100" role="region" tabindex="0"><div aria-atomic="true" aria-live="polite" class="sr-only"></div><div class="relative grid"><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 absolute right-6 top-6 bg-rebrand-green-300 tablet:right-[26px] tablet:top-[37px]">Hear from our customers</div><div aria-hidden="false" aria-label="1 of 3" aria-roledescription="slide" class="group/slide col-start-1 row-start-1 h-full min-w-0 tablet:hidden" role="group" style="pointer-events:auto;opacity:1;will-change:opacity"><div class="flex h-full flex-col gap-8 p-6"><div class="flex-1"><div class="flex flex-col gap-3"><span aria-hidden="true" class="h-[0.35em] font-serif text-[120px] leading-[0.7] tablet:h-[0.71666667em] tablet:leading-[0.95] text-rebrand-blue-700">“</span><p class="text-pretty font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3">My lawyer recommended working with the SimpleClosure team. They had clients who had a really good experience working with them.</p></div></div><div class="flex flex-col gap-6 text-rebrand-neutral-950"><span class="font-sans text-body">Meg Williams</span><div class="flex flex-col font-mono text-body-small"><span>Co-Founder of ARRIVANT</span><span>$5M+ Raised</span></div></div><button aria-label="Watch Meg&#x27;s story" class="group relative block aspect-square w-full cursor-pointer self-center overflow-hidden rounded-2xl p-0" data-visual-mask="" type="button"><div aria-hidden="true" class="absolute inset-0 overflow-hidden"></div><span aria-hidden="true" class="pointer-events-none absolute bottom-6 right-6 flex items-center gap-2 rounded-full p-3 group-hover:bg-rebrand-neutral-50/30"><span class="font-sans text-body text-white opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100">Watch</span><span class="relative h-6 w-[21px] shrink-0"><svg fill="none" viewBox="0 0 21 24" class="absolute inset-0 text-white opacity-100 transition-opacity duration-200 ease-out group-hover:opacity-0" height="24" width="21"><path stroke="currentColor" stroke-width="2" d="M1 2.003a1 1 0 0 1 1.5-.866L19 10.663a1 1 0 0 1 0 1.733L2.5 21.922a1 1 0 0 1-1.5-.866z"></path></svg><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 21 24" class="absolute inset-0 h-6 w-[21px] text-rebrand-green-500 opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100"><path fill="currentColor" d="M19.5 9.797c1.333.77 1.333 2.694 0 3.464L3 22.788c-1.333.77-3-.193-3-1.733V2.003C0 .463 1.667-.499 3 .271z"></path></svg></span></span></button><div class="flex items-center justify-between"><a class="group inline-flex items-center gap-2 font-sans text-body text-rebrand-neutral-950" href="/customer-stories/arrivant/">Read Meg’s story<span aria-hidden="true" class="inline-block transition-transform duration-200 ease-out group-hover:translate-x-1">→</span></a><div class="flex gap-2"><button aria-label="Previous slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 active:bg-rebrand-blue-700 text-rebrand-neutral-950" type="button"><svg fill="none" height="14" viewBox="0 0 10 9" width="16" xmlns="http://www.w3.org/2000/svg"><path d="M4.40367 8.79013e-08L0 4.375L4.40367 8.75L5.20642 7.9712L2.13303 4.90183L10 4.90183V3.84817L2.13303 3.84817L5.20642 0.778796L4.40367 8.79013e-08Z" fill="currentColor"></path></svg></button><button aria-label="Next slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 active:bg-rebrand-blue-700 text-rebrand-neutral-950" type="button"><svg fill="none" height="14" viewBox="0 0 10 9" width="16" xmlns="http://www.w3.org/2000/svg"><path d="M5.59633 8.75L10 4.375L5.59633 0L4.79358 0.778796L7.86697 3.84817H0V4.90183H7.86697L4.79358 7.9712L5.59633 8.75Z" fill="currentColor"></path></svg></button></div></div></div></div><div aria-hidden="true" aria-label="2 of 3" aria-roledescription="slide" class="group/slide col-start-1 row-start-1 h-full min-w-0 tablet:hidden" role="group" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><div class="flex h-full flex-col gap-8 p-6"><div class="flex-1"><div class="flex flex-col gap-3"><span aria-hidden="true" class="h-[0.35em] font-serif text-[120px] leading-[0.7] tablet:h-[0.71666667em] tablet:leading-[0.95] text-rebrand-green-700">“</span><p class="text-pretty font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3">Having SimpleClosure as part of this meant that I could sleep soundly at night. It felt like a weight off my shoulders.</p></div></div><div class="flex flex-col gap-6 text-rebrand-neutral-950"><span class="font-sans text-body">Anisha Gupta</span><div class="flex flex-col font-mono text-body-small"><span>Co-Founder of Bluebird</span><span>$2M+ Raised</span></div></div><button aria-label="Watch Anisha&#x27;s story" class="group relative block aspect-square w-full cursor-pointer self-center overflow-hidden rounded-2xl p-0" data-visual-mask="" type="button"><div aria-hidden="true" class="absolute inset-0 overflow-hidden"></div><span aria-hidden="true" class="pointer-events-none absolute bottom-6 right-6 flex items-center gap-2 rounded-full p-3 group-hover:bg-rebrand-neutral-50/30"><span class="font-sans text-body text-white opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100">Watch</span><span class="relative h-6 w-[21px] shrink-0"><svg fill="none" viewBox="0 0 21 24" class="absolute inset-0 text-white opacity-100 transition-opacity duration-200 ease-out group-hover:opacity-0" height="24" width="21"><path stroke="currentColor" stroke-width="2" d="M1 2.003a1 1 0 0 1 1.5-.866L19 10.663a1 1 0 0 1 0 1.733L2.5 21.922a1 1 0 0 1-1.5-.866z"></path></svg><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 21 24" class="absolute inset-0 h-6 w-[21px] text-rebrand-green-500 opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100"><path fill="currentColor" d="M19.5 9.797c1.333.77 1.333 2.694 0 3.464L3 22.788c-1.333.77-3-.193-3-1.733V2.003C0 .463 1.667-.499 3 .271z"></path></svg></span></span></button><div class="flex items-center justify-between"><a class="group inline-flex items-center gap-2 font-sans text-body text-rebrand-neutral-950" href="/customer-stories/blue-bird/">Read Anisha’s story<span aria-hidden="true" class="inline-block transition-transform duration-200 ease-out group-hover:translate-x-1">→</span></a><div class="flex gap-2"><button aria-label="Previous slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 active:bg-rebrand-blue-700 text-rebrand-neutral-950" type="button"><svg fill="none" height="14" viewBox="0 0 10 9" width="16" xmlns="http://www.w3.org/2000/svg"><path d="M4.40367 8.79013e-08L0 4.375L4.40367 8.75L5.20642 7.9712L2.13303 4.90183L10 4.90183V3.84817L2.13303 3.84817L5.20642 0.778796L4.40367 8.79013e-08Z" fill="currentColor"></path></svg></button><button aria-label="Next slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 active:bg-rebrand-blue-700 text-rebrand-neutral-950" type="button"><svg fill="none" height="14" viewBox="0 0 10 9" width="16" xmlns="http://www.w3.org/2000/svg"><path d="M5.59633 8.75L10 4.375L5.59633 0L4.79358 0.778796L7.86697 3.84817H0V4.90183H7.86697L4.79358 7.9712L5.59633 8.75Z" fill="currentColor"></path></svg></button></div></div></div></div><div aria-hidden="true" aria-label="3 of 3" aria-roledescription="slide" class="group/slide col-start-1 row-start-1 h-full min-w-0 tablet:hidden" role="group" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><div class="flex h-full flex-col gap-8 p-6"><div class="flex-1"><div class="flex flex-col gap-3"><span aria-hidden="true" class="h-[0.35em] font-serif text-[120px] leading-[0.7] tablet:h-[0.71666667em] tablet:leading-[0.95] text-rebrand-pink-700">“</span><p class="text-pretty font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3">I’m really good at starting businesses, I’m not very good at shutting them down. SimpleClosure really helped me through this journey.</p></div></div><div class="flex flex-col gap-6 text-rebrand-neutral-950"><span class="font-sans text-body">Daniel Seeff</span><div class="flex flex-col font-mono text-body-small"><span>Founder of Krispy Cuts</span></div></div><button aria-label="Watch Daniel&#x27;s story" class="group relative block aspect-square w-full cursor-pointer self-center overflow-hidden rounded-2xl p-0" data-visual-mask="" type="button"><div aria-hidden="true" class="absolute inset-0 overflow-hidden"></div><span aria-hidden="true" class="pointer-events-none absolute bottom-6 right-6 flex items-center gap-2 rounded-full p-3 group-hover:bg-rebrand-neutral-50/30"><span class="font-sans text-body text-white opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100">Watch</span><span class="relative h-6 w-[21px] shrink-0"><svg fill="none" viewBox="0 0 21 24" class="absolute inset-0 text-white opacity-100 transition-opacity duration-200 ease-out group-hover:opacity-0" height="24" width="21"><path stroke="currentColor" stroke-width="2" d="M1 2.003a1 1 0 0 1 1.5-.866L19 10.663a1 1 0 0 1 0 1.733L2.5 21.922a1 1 0 0 1-1.5-.866z"></path></svg><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 21 24" class="absolute inset-0 h-6 w-[21px] text-rebrand-green-500 opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100"><path fill="currentColor" d="M19.5 9.797c1.333.77 1.333 2.694 0 3.464L3 22.788c-1.333.77-3-.193-3-1.733V2.003C0 .463 1.667-.499 3 .271z"></path></svg></span></span></button><div class="flex items-center justify-between"><span></span><div class="flex gap-2"><button aria-label="Previous slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 active:bg-rebrand-blue-700 text-rebrand-neutral-950" type="button"><svg fill="none" height="14" viewBox="0 0 10 9" width="16" xmlns="http://www.w3.org/2000/svg"><path d="M4.40367 8.79013e-08L0 4.375L4.40367 8.75L5.20642 7.9712L2.13303 4.90183L10 4.90183V3.84817L2.13303 3.84817L5.20642 0.778796L4.40367 8.79013e-08Z" fill="currentColor"></path></svg></button><button aria-label="Next slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 active:bg-rebrand-blue-700 text-rebrand-neutral-950" type="button"><svg fill="none" height="14" viewBox="0 0 10 9" width="16" xmlns="http://www.w3.org/2000/svg"><path d="M5.59633 8.75L10 4.375L5.59633 0L4.79358 0.778796L7.86697 3.84817H0V4.90183H7.86697L4.79358 7.9712L5.59633 8.75Z" fill="currentColor"></path></svg></button></div></div></div></div><div aria-label="1 of 3" aria-roledescription="slide" class="col-start-1 row-start-1 hidden w-full items-stretch gap-[72px] px-6 py-20 tablet:grid tablet:grid-cols-[minmax(0,5fr)_minmax(0,6fr)_minmax(0,4fr)]" role="group"><div class="grid min-w-0"><div aria-hidden="false" class="col-start-1 row-start-1 min-w-0" style="pointer-events:auto;opacity:1;will-change:opacity"><div class="flex h-full flex-col justify-between gap-[47px] pb-4"><div class="flex flex-col gap-3"><span aria-hidden="true" class="h-[0.35em] font-serif text-[120px] leading-[0.7] tablet:h-[0.71666667em] tablet:leading-[0.95] text-rebrand-blue-700">“</span><p class="text-pretty font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3">My lawyer recommended working with the SimpleClosure team. They had clients who had a really good experience working with them.</p></div><a class="group flex items-center gap-2 font-sans text-body text-rebrand-neutral-950" href="/customer-stories/arrivant/">Read Meg’s story<span aria-hidden="true" class="inline-flex transition-transform duration-200 ease-out group-hover:translate-x-1"><svg fill="none" height="9" viewBox="0 0 10 9" width="10" xmlns="http://www.w3.org/2000/svg"><path d="M5.59633 8.75L10 4.375L5.59633 0L4.79358 0.778796L7.86697 3.84817H0V4.90183H7.86697L4.79358 7.9712L5.59633 8.75Z" fill="currentColor"></path></svg></span></a></div></div><div aria-hidden="true" class="col-start-1 row-start-1 min-w-0" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><div class="flex h-full flex-col justify-between gap-[47px] pb-4"><div class="flex flex-col gap-3"><span aria-hidden="true" class="h-[0.35em] font-serif text-[120px] leading-[0.7] tablet:h-[0.71666667em] tablet:leading-[0.95] text-rebrand-green-700">“</span><p class="text-pretty font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3">Having SimpleClosure as part of this meant that I could sleep soundly at night. It felt like a weight off my shoulders.</p></div><a class="group flex items-center gap-2 font-sans text-body text-rebrand-neutral-950" href="/customer-stories/blue-bird/">Read Anisha’s story<span aria-hidden="true" class="inline-flex transition-transform duration-200 ease-out group-hover:translate-x-1"><svg fill="none" height="9" viewBox="0 0 10 9" width="10" xmlns="http://www.w3.org/2000/svg"><path d="M5.59633 8.75L10 4.375L5.59633 0L4.79358 0.778796L7.86697 3.84817H0V4.90183H7.86697L4.79358 7.9712L5.59633 8.75Z" fill="currentColor"></path></svg></span></a></div></div><div aria-hidden="true" class="col-start-1 row-start-1 min-w-0" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><div class="flex h-full flex-col justify-between gap-[47px] pb-4"><div class="flex flex-col gap-3"><span aria-hidden="true" class="h-[0.35em] font-serif text-[120px] leading-[0.7] tablet:h-[0.71666667em] tablet:leading-[0.95] text-rebrand-pink-700">“</span><p class="text-pretty font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3">I’m really good at starting businesses, I’m not very good at shutting them down. SimpleClosure really helped me through this journey.</p></div><span aria-hidden="true" class="block h-0"></span></div></div></div><div class="grid min-w-0"><div aria-hidden="false" class="group/slide col-start-1 row-start-1 min-w-0" style="pointer-events:auto;opacity:1;will-change:opacity"><button aria-label="Watch Meg&#x27;s story" class="group relative block aspect-square w-full cursor-pointer self-center overflow-hidden rounded-2xl p-0" data-visual-mask="" type="button"><div aria-hidden="true" class="absolute inset-0 overflow-hidden"></div><span aria-hidden="true" class="pointer-events-none absolute bottom-6 right-6 flex items-center gap-2 rounded-full p-3 group-hover:bg-rebrand-neutral-50/30"><span class="font-sans text-body text-white opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100">Watch</span><span class="relative h-6 w-[21px] shrink-0"><svg fill="none" viewBox="0 0 21 24" class="absolute inset-0 text-white opacity-100 transition-opacity duration-200 ease-out group-hover:opacity-0" height="24" width="21"><path stroke="currentColor" stroke-width="2" d="M1 2.003a1 1 0 0 1 1.5-.866L19 10.663a1 1 0 0 1 0 1.733L2.5 21.922a1 1 0 0 1-1.5-.866z"></path></svg><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 21 24" class="absolute inset-0 h-6 w-[21px] text-rebrand-green-500 opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100"><path fill="currentColor" d="M19.5 9.797c1.333.77 1.333 2.694 0 3.464L3 22.788c-1.333.77-3-.193-3-1.733V2.003C0 .463 1.667-.499 3 .271z"></path></svg></span></span></button></div><div aria-hidden="true" class="group/slide col-start-1 row-start-1 min-w-0" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><button aria-label="Watch Anisha&#x27;s story" class="group relative block aspect-square w-full cursor-pointer self-center overflow-hidden rounded-2xl p-0" data-visual-mask="" type="button"><div aria-hidden="true" class="absolute inset-0 overflow-hidden"></div><span aria-hidden="true" class="pointer-events-none absolute bottom-6 right-6 flex items-center gap-2 rounded-full p-3 group-hover:bg-rebrand-neutral-50/30"><span class="font-sans text-body text-white opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100">Watch</span><span class="relative h-6 w-[21px] shrink-0"><svg fill="none" viewBox="0 0 21 24" class="absolute inset-0 text-white opacity-100 transition-opacity duration-200 ease-out group-hover:opacity-0" height="24" width="21"><path stroke="currentColor" stroke-width="2" d="M1 2.003a1 1 0 0 1 1.5-.866L19 10.663a1 1 0 0 1 0 1.733L2.5 21.922a1 1 0 0 1-1.5-.866z"></path></svg><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 21 24" class="absolute inset-0 h-6 w-[21px] text-rebrand-green-500 opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100"><path fill="currentColor" d="M19.5 9.797c1.333.77 1.333 2.694 0 3.464L3 22.788c-1.333.77-3-.193-3-1.733V2.003C0 .463 1.667-.499 3 .271z"></path></svg></span></span></button></div><div aria-hidden="true" class="group/slide col-start-1 row-start-1 min-w-0" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><button aria-label="Watch Daniel&#x27;s story" class="group relative block aspect-square w-full cursor-pointer self-center overflow-hidden rounded-2xl p-0" data-visual-mask="" type="button"><div aria-hidden="true" class="absolute inset-0 overflow-hidden"></div><span aria-hidden="true" class="pointer-events-none absolute bottom-6 right-6 flex items-center gap-2 rounded-full p-3 group-hover:bg-rebrand-neutral-50/30"><span class="font-sans text-body text-white opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100">Watch</span><span class="relative h-6 w-[21px] shrink-0"><svg fill="none" viewBox="0 0 21 24" class="absolute inset-0 text-white opacity-100 transition-opacity duration-200 ease-out group-hover:opacity-0" height="24" width="21"><path stroke="currentColor" stroke-width="2" d="M1 2.003a1 1 0 0 1 1.5-.866L19 10.663a1 1 0 0 1 0 1.733L2.5 21.922a1 1 0 0 1-1.5-.866z"></path></svg><svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 21 24" class="absolute inset-0 h-6 w-[21px] text-rebrand-green-500 opacity-0 transition-opacity duration-200 ease-out group-hover:opacity-100"><path fill="currentColor" d="M19.5 9.797c1.333.77 1.333 2.694 0 3.464L3 22.788c-1.333.77-3-.193-3-1.733V2.003C0 .463 1.667-.499 3 .271z"></path></svg></span></span></button></div></div><div class="flex min-w-0 flex-col justify-between gap-8"><div aria-hidden="true" class="h-[35px]"></div><div class="relative grid min-w-0"><div aria-hidden="false" class="col-start-1 row-start-1 min-w-0" style="pointer-events:auto;opacity:1;will-change:opacity"><div class="flex flex-col gap-6 text-rebrand-neutral-950"><span class="font-sans text-body">Meg Williams</span><div class="flex flex-col font-mono text-body-small"><span>Co-Founder of ARRIVANT</span><span>$5M+ Raised</span></div></div></div><div aria-hidden="true" class="col-start-1 row-start-1 min-w-0" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><div class="flex flex-col gap-6 text-rebrand-neutral-950"><span class="font-sans text-body">Anisha Gupta</span><div class="flex flex-col font-mono text-body-small"><span>Co-Founder of Bluebird</span><span>$2M+ Raised</span></div></div></div><div aria-hidden="true" class="col-start-1 row-start-1 min-w-0" inert="" style="pointer-events:none;opacity:0;will-change:opacity"><div class="flex flex-col gap-6 text-rebrand-neutral-950"><span class="font-sans text-body">Daniel Seeff</span><div class="flex flex-col font-mono text-body-small"><span>Founder of Krispy Cuts</span></div></div></div></div><div><div class="flex gap-2"><button aria-label="Previous slide" class="flex h-[35px] w-[35px] items-center justify-center rounded-full transition-colors text-rebrand-neutral-950 bg-rebrand-blue-300 hover:bg-rebrand-blue-500 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class="mx-auto w-full max-w-[1440px] px-5 flex flex-col gap-6 text-center tablet:flex-row tablet:items-end tablet:justify-between tablet:text-left"><div class="flex flex-col gap-8"><span style="opacity:0;transform:translateY(30px)"><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 self-center bg-rebrand-gold-100 tablet:self-auto">YOUR SHUTDOWN TEAM</div></span><h2 class="font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-heading-3" style="opacity:0;transform:translateY(30px)">Dissolution experts <i>enabled</i> by technology</h2></div><p class="text-body text-rebrand-neutral-500 tablet:w-[480px]" style="opacity:0;transform:translateY(30px)">Our dissolution experts are backed by lawyers and accountants who&#x27;ve seen every complication. Not a tool, not a law firm, and not patchwork. We&#x27;re a tech-enabled team delivering the shutdown standard.</p></div><div class="carousel mx-auto w-full min-[1440px]:max-w-[calc(1440px+400px)] carousel--edge-fades" style="--carousel-fade-color:white;--carousel-slide-gap:32px"><div class="carousel__viewport relative overflow-hidden" data-visual-mask=""><div class="carousel__container flex" style="align-items:flex-end"><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Lee" loading="lazy" width="280" height="364" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/lee.96a771a9.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Lee D.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Dissolution Advisor</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Carina" loading="lazy" width="280" height="260" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/carina.94a69641.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Carina O.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Partnerships</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Ilan" loading="lazy" width="280" height="364" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/ilan.232e3514.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Ilan S.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Chief of Staff</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Monica" loading="lazy" width="280" height="401" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/monica.2f12c39c.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Monica P.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Growth</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Juan" loading="lazy" width="280" height="364" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/juan.fc2ae443.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Juan L.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Dissolution Expert</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Hannah" loading="lazy" width="280" height="242" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/hannah.225c9157.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Hannah P.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Community</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Nick" loading="lazy" width="280" height="337" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/nick.d15c249f.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Nick T.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Legal Counsel</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Jessica" loading="lazy" width="280" height="401" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/jess.3862acda.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Jessica P.</p><p class="font-mono text-body-small text-rebrand-neutral-500">Legal Operations</p></div></div></div><div class="carousel__slide"><div class="flex flex-col gap-7"><img alt="Javon" loading="lazy" width="280" height="337" decoding="async" data-nimg="1" class="rounded-xl" style="color:transparent" src="/_next/static/media/javon.47520151.webp"/><div class="flex flex-col gap-4"><p class="text-body-lead">Javon B.</p><p class="font-mono text-body-small text-rebrand-neutral-500">CPA</p></div></div></div></div></div></div></section><section><div class="mx-auto w-full max-w-[1440px] px-5 flex flex-col gap-16"><div class="flex flex-col items-center gap-6"><span style="opacity:0;transform:translateY(30px)"><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 bg-rebrand-gold-100">HERE TO HELP</div></span><h2 class="text-center font-serif text-heading-4 text-rebrand-neutral-950 tablet:text-left tablet:text-heading-3" style="opacity:0;transform:translateY(30px)">What to know <i>before</i> you close</h2></div><div data-visual-mask="true" class="flex flex-wrap gap-12 tablet:flex-nowrap tablet:justify-between tablet:gap-10" style="opacity:0;transform:translateY(30px)"><div class="w-full tablet:min-w-0 tablet:flex-1"><a class="group flex flex-col" href="/blog/insights/what-ai-is-really-changing-for-startup-lawyers/"><div class="relative mb-3 aspect-video w-full overflow-hidden rounded-xl bg-rebrand-neutral-150"><img alt="law-in-the-age-of-ai-panel" loading="lazy" width="532.2338830584707" height="355" decoding="async" data-nimg="1" class="h-full w-full object-cover transition-transform duration-300 ease-in-out group-hover:scale-[1.05]" style="color:transparent" src="https://images.ctfassets.net/tx0hc13c5c2c/1u6BjilV1JOCtT7b493T7o/44d4270309207f7392aaae97253516eb/magnific__photo-four-men-average-age-30-average-race-white-a__71600.jpg?w=1064&amp;h=710&amp;fit=fill&amp;fm=webp&amp;q=75"/><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 absolute bottom-3 left-3 bg-rebrand-neutral-100/80 backdrop-blur-sm">Insights</div></div><time class="mb-1 font-sans text-body-small text-rebrand-neutral-500">July 8, 2026</time><h3 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bg-rebrand-neutral-100/80 backdrop-blur-sm">Strategy</div></div><time class="mb-1 font-sans text-body-small text-rebrand-neutral-500">July 8, 2026</time><h3 class="line-clamp-2 font-sans text-body-lead text-rebrand-neutral-950 group-hover:text-rebrand-neutral-600">Managed Wind-Down vs. ABC vs. Bankruptcy: Startup Closure Guide [2026]</h3></a></div><div class="w-full tablet:min-w-0 tablet:flex-1"><a class="group flex flex-col" href="/blog/insights/introducing-the-shutdown-standard/"><div class="relative mb-3 aspect-video w-full overflow-hidden rounded-xl bg-rebrand-neutral-150"><img alt="Introducing the Shutdown Standard Graphic" loading="lazy" width="632.8260869565216" height="355" decoding="async" data-nimg="1" class="h-full w-full object-cover transition-transform duration-300 ease-in-out group-hover:scale-[1.05]" style="color:transparent" src="https://images.ctfassets.net/tx0hc13c5c2c/b0l8gtZvMp7HUlLugeKwg/8a876763bee5f6b97b48e915f52ae56c/LaunchBlog.png?w=1230&amp;h=690&amp;fit=fill&amp;fm=webp&amp;q=75"/><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 absolute bottom-3 left-3 bg-rebrand-neutral-100/80 backdrop-blur-sm">Insights</div></div><time class="mb-1 font-sans text-body-small text-rebrand-neutral-500">June 15, 2026</time><h3 class="line-clamp-2 font-sans text-body-lead text-rebrand-neutral-950 group-hover:text-rebrand-neutral-600">Introducing the Shutdown Standard</h3></a></div><div class="w-full tablet:min-w-0 tablet:flex-1"><a class="group flex flex-col" href="/blog/guides/dissolve-delaware-corporation/"><div class="relative mb-3 aspect-video w-full overflow-hidden rounded-xl bg-rebrand-neutral-150"><img alt="blog 43" loading="lazy" width="518.8461538461538" height="355" decoding="async" data-nimg="1" class="h-full w-full object-cover transition-transform duration-300 ease-in-out group-hover:scale-[1.05]" style="color:transparent" src="https://images.ctfassets.net/tx0hc13c5c2c/3r8ge8SYKsWxjApL5ovtFT/6dd7425028e2efd780cd406404c58f29/43.jpg?w=1038&amp;h=710&amp;fit=fill&amp;fm=webp&amp;q=75"/><div class="inline-flex w-fit items-center rounded-full bg-rebrand-blue-500 p-2 font-mono text-label uppercase leading-[100%] text-rebrand-neutral-950 absolute bottom-3 left-3 bg-rebrand-neutral-100/80 backdrop-blur-sm">Guides</div></div><time class="mb-1 font-sans text-body-small text-rebrand-neutral-500">June 12, 2026</time><h3 class="line-clamp-2 font-sans text-body-lead text-rebrand-neutral-950 group-hover:text-rebrand-neutral-600">How to Dissolve a Corporation in Delaware</h3></a></div></div></div></section><section class="mb-12"><div class="mx-auto w-full max-w-[1440px] px-5"><span style="opacity:0;transform:translateY(30px)"><section class="flex flex-col items-center gap-8 rounded-2xl 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Legal tech companies are building into areas shaped by old ethics rules. Law firms are trying to figure out which tasks should still be done by lawyers, which can be automated, and which should be handed off entirely.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"That was the throughline of SimpleClosure’s panel, “Law in the Age of AI.” The conversation was not really about whether AI will replace lawyers. It was more practical than that. AI is already changing the work around startup law: how founders ask questions, how legal tools get built, how firms think about workflow, and how quickly companies move from formation to wind-down.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"For startup lawyers, the pressure is coming from a few directions at once.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"heading-2\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Founders are showing up with AI-generated answers\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Startup lawyers are used to founders trying to solve things on their own before calling counsel. Founders have always searched online, asked other founders, reused old documents, or tried to avoid legal spend until they had to.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"AI changes the shape of that conversation.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"A founder may now come to counsel with a polished answer from ChatGPT, a draft document, or a list of reasons the model gave them for why something should be fine. The answer may look organized and even be directionally useful, but it often depends on facts the model never had.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Jeff Laretto, a partner at Cooley, described the pattern from the law firm side. 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The AI answer may not be fake. It may be partly right while missing the detail that changes the analysis.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Jeff was clear about who is responsible when AI gets it wrong in a legal context: “It’s the firm, it’s the lawyer.”\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"That creates a supervision issue inside firms, not just a client issue. Junior lawyers may use AI to get an answer before they know enough to evaluate it. Jeff described young associates taking AI output and going “off on a tangent that is not the right tangent.”\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"This is where AI becomes tricky for law firms. It can remove some of the rote work that lawyers and paralegals used to handle manually, which may help clients avoid paying for hours of process work. But some of that rote work is also how junior lawyers learn what matters.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Jeff put it plainly: “There’s a cost that will come due. 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How do you deal with export controls?”\",\"slug\":\"7MhqMJbS0Zncy43Obb0d7u\",\"subtitle_01\":\"Jeff Laretto\",\"subtitle_02\":\"Emerging Companies Partner, Cooley LLP\"}}},\"content\":[]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"If a legal tech company cannot answer those questions, the demo does not matter much.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"This is one of the reasons legal tech adoption can look slow from the outside. Lawyers can be resistant to change, but the procurement friction is not only personality. Firms have client confidentiality obligations, data security concerns, and internal risk standards that are not optional.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Even after a tool gets approved, there is another problem: lawyers actually have to use it. Jeff noted that selling into a law firm is not the same as getting adoption. Lawyers have habits, existing systems, and little patience for another platform unless it solves a problem they feel often enough.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"A tool can clear procurement and still fail inside a firm if lawyers do not have a reason to open it during the workday. The products that last are usually the ones that remove a step lawyers already dislike, reduce a dependency they already feel, or fit into a workflow they already use. A flashy AI layer will not carry a product very far if using it creates another place to log in, another system to check, or another output someone has to clean up.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"heading-2\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Workflow is becoming its own category\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Dori Yona, Co-founder and CEO of SimpleClosure, drew a line that many companies need to consider: there is legal advice, and then there is the workflow around legal and regulatory processes.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"He described SimpleClosure’s position directly: “We are not a law firm, we are not accounting firm, we are not providing legal advice.”\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"That matters because a lot of startup legal work includes tasks that are important but not always judgment-heavy. Documents need to be created. Filings need to be submitted. State responses need to be tracked. Payments need to be made. Investors may need visibility. Someone has to make sure the process does not stall.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Dori described SimpleClosure as building workflows around dissolution paperwork, franchise tax, state filings, document creation, state submissions, state responses, and payments.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"For law firms, this is not necessarily bad news. Jeff made that point from the Cooley side. Some process-heavy work has low perceived value for clients and is not the kind of work a law firm wants to own manually. If that work can go to a specialized provider, the client may get a better experience and the lawyer can focus on the parts that actually need legal judgment.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"The question is now whether a task belongs with a lawyer, with software, with a specialized workflow provider, or with some mix of the three.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"heading-2\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"AI is speeding up the company lifecycle\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"The panel was not only about legal work inside law firms. It also touched on what AI is doing to the startup lifecycle itself.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Jesse Carey, Product Strategy at Stripe, said Stripe Atlas is seeing an increase in company formation, including solo-founded C-Corps. He also said more founders are finding their first customer faster than before.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"That is the optimistic side of AI: it is easier to research a market, build a prototype, launch something, and test demand without a large team.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Dori brought in the other side of that same cycle. More companies are forming, but more companies are also shutting down. He talked about older SaaS companies struggling to raise if they are not AI-first, and AI wrapper companies having trouble once foundation models start releasing similar features directly.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"That has practical consequences for startup lawyers. A founder may shut down one company and start another faster than they would have a few years ago. Dori described founders shutting down and then raising for an AI version of what they had been building.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"The legal cleanup still has to happen. The entity still exists. Investors still need to know what happened. Assets, IP, taxes, filings, liquidation preferences, and remaining obligations do not disappear because the founder has moved on to the next idea.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Dori also pointed out that a clean shutdown can affect the founder’s next company. When founders handle the process transparently, investors may appreciate it and sometimes become the first check into the next company.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"That is the part startup lawyers should not miss. AI may make starting easier, but it does not make the rest of the lifecycle disappear. If anything, it makes lifecycle work more common: formation, financing, pivoting, wind-down, and restart.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"heading-2\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"What startup lawyers should take from this\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"AI is changing startup law in several places at once.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"It is changing how founders show up to legal conversations. It is changing how junior lawyers work. It is pushing legal tech companies into ethics questions earlier than they may expect. It is making law firms rethink procurement, data security, and adoption. It is also making the startup lifecycle move faster, with more companies forming, testing, shutting down, and restarting.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"For lawyers, the practical question is not whether to use AI or avoid it. The question is where legal judgment is actually needed.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Some work still belongs with counsel: risk assessment, investor dynamics, fiduciary questions, ethics, supervision, negotiation, and the moments when a founder is asking the wrong question.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Some work needs a better workflow, especially process-heavy parts of the lifecycle like company wind-down, where the work can be tedious, fragmented, and easy to leave half-finished.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Startup lawyers do not need to own every filing, notice, signature, and state follow-up by hand. They do need to know when those things matter, when the facts are unusual, and when a founder needs actual advice instead of another AI-generated answer.\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"AI may make parts of startup law move faster, but it also creates new points where lawyers have to slow down and check the work. Founders may arrive with AI-generated answers that leave out key facts. Junior lawyers may rely on tools before they have enough context to evaluate the output. Legal tech companies may build into ethics rules they have not fully considered. 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Compare Managed Wind-Down, ABC, and Bankruptcy with detailed insights on costs, timelines, and benefits to make an informed decision.\",\"author\":[{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"fXxB3kVpKDuG9wNGVxBvt\",\"type\":\"Entry\",\"createdAt\":\"2023-11-14T15:44:33.704Z\",\"updatedAt\":\"2026-03-05T23:23:38.027Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":9,\"revision\":3,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"person\"}},\"locale\":\"en-US\"},\"fields\":{\"slug\":\"fXxB3kVpKDuG9wNGVxBvt\",\"name\":\"Jessica Pedraza\",\"title\":\"Legal Consultant\",\"image\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"7n9dVjM97MwmRABv1fMU42\",\"type\":\"Asset\",\"createdAt\":\"2023-11-14T15:37:30.795Z\",\"updatedAt\":\"2026-07-06T16:11:15.628Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":23,\"revision\":5,\"locale\":\"en-US\"},\"fields\":{\"title\":\"jessica pedraza\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/7n9dVjM97MwmRABv1fMU42/ebcb4c06161f9137aaa066672486fdc8/JessP.png\",\"details\":{\"size\":5250146,\"image\":{\"width\":3039,\"height\":3040}},\"fileName\":\"JessP.png\",\"contentType\":\"image/png\"}}},\"bio\":\"Jessica Pedraza is the VP of Legal Operations \u0026 Client Support at SimpleClosure. With experience in fund administration, cap table management, financing rounds, entity maintenance, and corporate compliance, she helps guide founders through complex legal and operational processes with clarity and precision. Jess works closely with founders, legal counsel, tax providers, and internal teams to ensure dissolutions are handled responsibly, efficiently, and with a strong focus on accountability.\",\"linkedin\":\"https://www.linkedin.com/company/simpleclosure\"}}],\"image\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"77OHR0D0pqwNOExtl2nAsQ\",\"type\":\"Asset\",\"createdAt\":\"2025-01-27T12:07:14.179Z\",\"updatedAt\":\"2025-01-27T12:07:14.179Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":3,\"revision\":1,\"locale\":\"en-US\"},\"fields\":{\"title\":\"managed-wind-down-vs-abc-vs-bankruptcy-guide\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/77OHR0D0pqwNOExtl2nAsQ/62dc502c219e6f1cc217ff76fcdbc1aa/managed-wind-down-vs-abc-vs-bankruptcy-guide.png\",\"details\":{\"size\":1964958,\"image\":{\"width\":1456,\"height\":816}},\"fileName\":\"managed-wind-down-vs-abc-vs-bankruptcy-guide.png\",\"contentType\":\"image/png\"}}},\"imageRebrand\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"YbitDFdDzvgVS0vYqOwTP\",\"type\":\"Asset\",\"createdAt\":\"2026-06-10T01:29:34.521Z\",\"updatedAt\":\"2026-06-10T01:29:34.521Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":4,\"revision\":1,\"locale\":\"en-US\"},\"fields\":{\"title\":\"blog 24\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/YbitDFdDzvgVS0vYqOwTP/459a530e85e9d071e73195db22c27474/24.jpg\",\"details\":{\"size\":1137849,\"image\":{\"width\":2336,\"height\":1600}},\"fileName\":\"24.jpg\",\"contentType\":\"image/jpeg\"}}},\"category\":\"Strategy\",\"content\":{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"TL;DR\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Three typical paths exist for closing a startup: managed wind-down, Assignment for Benefit of Creditors (ABC), and bankruptcy. Managed wind-down is the fastest (2–8 weeks) and least expensive ($25K–$75K) when your company can cover its obligations. ABC suits situations with substantial physical assets or complex creditor disputes. Bankruptcy is the most formal and expensive option, reserved for situations requiring court supervision.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Key takeaways:\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Cost and timeline differ sharply: managed wind-down takes weeks; bankruptcy can take years\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"All three can protect founders from \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/regulations/personal-liability-and-business-debt/\"},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"personal liability\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\" when executed correctly, but each has specific failure modes\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The right choice depends on your cash position, debt structure, and whether creditors are likely to dispute the process\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Consult legal or financial counsel before committing to a path\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{\"target\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"2yOdkZIfgesJOTo14CAaJy\",\"type\":\"Entry\",\"createdAt\":\"2025-01-03T17:28:20.814Z\",\"updatedAt\":\"2025-01-03T17:28:20.814Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":2,\"revision\":1,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"ebook\"}},\"locale\":\"en-US\"},\"fields\":{\"name\":\"ebook\"}}},\"content\":[],\"nodeType\":\"embedded-entry-block\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Choosing how to close your company is one of the most consequential decisions you make during a shutdown. The right process protects your reputation, limits liability, and gives creditors and employees a clean resolution. The wrong one can mean personal exposure, protracted disputes, or a process that drains the remaining cash you needed to finish.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://www.spglobal.com/market-intelligence/en/news-insights/articles/2024/1/global-venture-capital-investments-continue-downtrend-in-december-2023-80043834\"},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"VC funding dropped from $435B in 2022 to $260B in 2023\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\", and the number of startups reaching the end of their runway has risen with it. Founders who understand their options before they run out of time are in a far better position than those making this decision under pressure.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"This guide walks through all three paths.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Quick Overview of Your Shutdown Options (Average)\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Aspect\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Timeline\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Cost\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Control\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Privacy\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Managed wind-down\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"2–8 weeks*\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"$$25K–$75K*\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Company Retained\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Private\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"ABC\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"3–6 months\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"$$75K–$150K\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Assigned to Trustee\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Semi-Private\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Bankruptcy\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"6–24 months\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"$$100K–$500K+\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Court Controlled\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Public\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"}],\"nodeType\":\"table\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\\nEach option involves different processes and trade-offs. The right one for your company depends on your cash reserves, debt level, complexity, and whether you want court involvement or prefer privacy. \",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"*Can be shortened and more cost effective when using a service like SimpleClosure\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What Is the Cheapest Way to Shut Down a Startup?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Managed wind-down is usually the least expensive option, ranging from $25,000 to $75,000 (lower when using a service like SimpleClosure) when your company has sufficient cash reserves and limited creditor disputes. ABC runs $75,000–$150,000 due to trustee fees. Bankruptcy starts at $100,000 and can exceed $500,000 for complex cases.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"One important caveat: if you start a managed wind-down and run out of cash before completing it, you may need to convert to ABC or bankruptcy anyway, adding costs on top. The cheapest path depends on your cash position at the time you decide, not just the headline price of each option.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"How Long Does Each Startup Shutdown Method Take?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Managed wind-down typically takes 2–8 weeks, with ABC taking 3-6 months and bankruptcy taking 6-24 months (longer for more complex cases), all on average. If speed matters, to minimize ongoing liabilities, lease obligations, or payroll, managed wind-down is the fastest path when your company qualifies.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What affects the timeline:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Managed wind-down:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Number of creditors, complexity of asset distribution, and state filing requirements. Simpler cap tables and fewer creditors mean faster completion.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"ABC:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Trustee's caseload and how quickly creditors file claims. The 3–6 month range assumes an experienced assignee and a clean asset transfer.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Bankruptcy (Chapter 7):\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Creditor disputes, court scheduling, and complexity of the estate. Chapter 11 reorganizations often run 12–24+ months.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Note: These timelines reflect when the active process concludes. Post-dissolution tasks—final tax filings, state registrations, EIN cancellation—add time in all three cases.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Which Shutdown Option Protects Founders From Personal Liability?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"All three options can protect founders from personal liability when executed correctly, but they differ significantly in how that protection works and where it can break down.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Managed wind-down:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Protection depends on following state dissolution law precisely. Founders who distribute assets to themselves before paying creditors, or who miss required creditor notification steps, can lose that protection. Working with legal counsel or a managed dissolution service reduces this risk.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"ABC:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Once assets are transferred to the trustee, founders step back from distributions. The trustee handles creditor payments in legal priority order, which reduces the risk of preferential transfer claims against founders.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Bankruptcy:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" The automatic stay immediately halts creditor lawsuits, providing the broadest short-term protection. For personal liability specifically, the structure of your entity and whether any personal guarantees exist matters as much as the shutdown method you choose.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What none of the three can protect against:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Personally guaranteed debts (bank loans, some SaaS contracts, office leases)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Fraudulent conveyance claims if assets were moved improperly before the shutdown\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Officer and director liability for wage and tax obligations\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"italic\"}],\"value\":\"This section covers general principles. Personal liability depends on your specific situation, entity structure, and state law. Consult legal counsel for guidance on your case.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What Happens to Employees in Each Shutdown Scenario?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The legal obligations to employees are the same regardless of which method you choose. The timeline and who manages those obligations is what differs.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"In all three methods, you must:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Pay all final wages on your state's required schedule (some states require payment on the last day of employment)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Pay out accrued PTO if your state requires it\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Provide COBRA election notices within 44 days of the qualifying event (14 days from when the plan administrator is notified)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Issue W-2s by January 31 of the following year\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Provide 60 days' notice under the WARN Act if you have 100 or more employees\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Managed wind-down:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Founders manage employee wind-down directly—timing, severance decisions, and communications. Most flexibility, most responsibility.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"ABC:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" The trustee oversees final payroll and WARN Act compliance. Founders step back from the process entirely.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Bankruptcy:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" An automatic stay goes into effect, which can complicate wage payment timing. Employee wage \",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"claims hold a priority position in bankruptcy, but actual payment depends on available assets and can take months.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Can You Recover Assets During a Startup Shutdown?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Yes, but the ability to recover value depends on which method you use and when you start.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Managed wind-down:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Founders retain control over asset sales. You can negotiate directly with buyers, sell IP, equipment, and customer contracts, and keep proceeds after creditor obligations are met. \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://www.simpleclosure.com/product/asset-hub/\"},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"SimpleClosure's Asset Hub\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\" connects companies going through a managed wind-down with vetted buyers for software, domains, hardware, and other startup assets—making it easier to recover value without managing the sale process yourself.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"ABC:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" The trustee liquidates assets with the goal of maximizing creditor recovery. Founders have no control over sale prices or timing once the assignment is made. In most ABC cases, nothing is left for equity holders after creditors are paid.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Bankruptcy (Chapter 7):\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" A court-appointed trustee liquidates assets. Sales require court approval and can move slowly. Chapter 11 preserves the business and its asset base but requires a viable restructuring plan.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What's recoverable across all methods:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Intellectual property (patents, trademarks, code, brand assets)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Hardware and equipment\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Customer contracts and data assets (subject to privacy law)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Domain names and digital infrastructure\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Prepaid contracts with remaining value\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Option 1: Managed Wind-Down (Dissolution)\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What It Is\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"A \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://www.simpleclosure.com/blog/posts/closing-down-a-business-checklist/\"},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"managed wind-down\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\" is a process where a company closes operations in a streamlined, private manner without requiring full court supervision. You maintain control as you follow state-governed procedures to settle debts, liquidate assets, and dissolve the legal entity.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Key Benefits\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Privacy:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" No public filings beyond required state paperwork\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Control:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" You decide how to handle asset liquidation, subject to legal rules\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Speed:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Can often be completed in 2–8 weeks\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Cost:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" The least expensive route at $25K–$75K\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Legal Requirements\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Board Resolution:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" The board formally approves the decision to dissolve\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Stockholder Approval:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Secure approval from stockholders—more than 50% voting power in most cases, though the exact threshold depends on your company's bylaws or charter\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Asset Liquidation and Creditor Notification Plan:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" A documented plan outlining how assets will be liquidated and creditors notified\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Final Tax Filings and Administrative Tasks:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Final tax returns, license cancellations, and registration withdrawals\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Factors to Consider\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"State Law Differences:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Dissolution is governed by state law, and requirements vary between \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/posts/how-to-dissolve-a-corporation-in-california/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"California\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\", \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/posts/dissolve-delaware-corporation/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"Delaware\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\", \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/posts/how-to-dissolve-a-corporation-in-new-york/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"New York\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\", and other states.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Level of Control:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" You have direct say in how assets are sold or transferred, as long as you follow state dissolution rules and respect creditor priorities.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Attorney Involvement:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Not always required if you're solvent or have manageable debt, but legal counsel or a managed dissolution service helps avoid errors.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Time:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Typically the fastest method because it happens outside of court.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Who Should Consider Managed Wind-Down?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Companies with fewer creditors or simpler debt structures, startups primarily dealing in intellectual property rather than physical assets, founders who want to retain control and keep the process private, and solvent or near-solvent companies that can negotiate directly with creditors.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Option 2: Assignment for Benefit of Creditors (ABC)\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What It Is\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"An Assignment for Benefit of Creditors (ABC) is a state-law alternative to bankruptcy. The company transfers its assets and liabilities to a third-party trustee (the \\\"Assignee\\\"), who liquidates the assets to repay creditors. Once completed, the company ceases to exist or operates as an empty shell.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Key Benefits\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Streamlined Process:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Less formal than bankruptcy, often faster and more flexible\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Cost:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Ranges from $75K–$150K, less expensive than bankruptcy\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Less Exposure:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Avoids the public nature of federal bankruptcy filings\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Legal Requirements\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Engage an Assignee:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Hire a third-party trustee experienced in managing ABCs\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Transfer Assets:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Formally assign all company assets to the trustee, relinquishing control over how they are liquidated\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Notify Creditors:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Provide all creditors with notice of the assignment and details on filing claims\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Complete Tax Filings:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Finalize all state and federal tax obligations\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Factors to Consider\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"State Law Variations:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" ABCs are governed by state law, and the process differs significantly by state. Delaware and California have well-defined frameworks; others require more tailored approaches.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Control Loss:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Once assets are assigned, the trustee determines how they are managed and distributed.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Attorney Involvement:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Legal representation is recommended to oversee the transfer and ensure compliance.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Timeframe:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" ABCs take 3–6 months, with the trustee managing most responsibilities.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Who Should Consider ABC?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Companies with substantial physical assets such as inventory or equipment, founders comfortable delegating control to a trustee, and startups with multiple secured creditors or complex debt structures that make a self-\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"managed wind-down risky.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Option 3: Bankruptcy\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"What It Is\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Bankruptcy is a formal federal court process that provides a structured framework for either liquidating assets (Chapter 7) or reorganizing debts (Chapter 11). It is highly regulated and provides legal protections, but comes with significant costs and public scrutiny.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Key Benefits\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Comprehensive oversight:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" All creditors are treated equitably under federal law\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Legal protections:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" An automatic stay halts creditor lawsuits and collections immediately upon filing\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Debt resolution:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Certain debts can be discharged, or a reorganization path can be established\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Legal Requirements\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"File a petition:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Initiate the process by filing in federal court\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Provide financial documentation:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Submit a detailed schedule of assets, liabilities, income, and expenses\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Engage with creditors:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Attend creditor meetings to discuss asset liquidation or reorganization plans\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Complete court-approved actions:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Liquidate or reorganize assets under the court's direction\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Cost Breakdown\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Court filing fees: $338 (Chapter 7) / $1,738 (Chapter 11)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Attorney fees: $75K–$300K+\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Trustee fees: Based on disbursements\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Administrative costs: $25K–$100K\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Factors to Consider\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Cost:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" $100K–$500K+, the most expensive of the three options.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Timeframe:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" 6–24 months or longer depending on complexity.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Public Nature:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Bankruptcy filings are public records.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Legal Involvement:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Legal counsel is essential throughout the process.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Who Should Consider Bankruptcy?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Companies with large, complex debt structures, numerous creditors, or disputes over asset distribution. Also appropriate for regulated industries, businesses facing active lawsuits where an automatic stay is needed, or situations where the debt is too complex to resolve through negotiation.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Which Option Fits Your Situation?\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The comparison table and option sections above cover the mechanics. These are the practical signals that point toward each path. None of this substitutes for legal or financial advice—these are the questions worth bringing to counsel before you commit.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Signs managed wind-down is likely the right fit:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Your company can cover all outstanding debts from remaining cash\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Your creditors are primarily vendors, landlords, and service providers, not secured lenders with complex collateral agreements\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"You don't have significant physical inventory that needs third-party liquidation\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"You want to stay in control of how assets are sold or transferred\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"You want to keep the process private and move quickly\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Signs ABC may be worth exploring:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"You have substantial physical assets—inventory, equipment, or hardware — that need organized liquidation and your team isn't equipped to manage that process\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"You have multiple secured creditors with competing claims and want a neutral third party to manage the distribution\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Creditor disputes are likely and you want to step back from those negotiations entirely\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Signs bankruptcy may need to be on the table:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The company is deeply insolvent and creditors are likely to challenge any distribution made outside of a court process\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"There are active lawsuits or creditor threats that require an automatic stay\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The debt structure includes large SBA loans, personal guarantees, or creditor classes with competing interests that can't be resolved through negotiation\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"When none of the above is clear, the key variables to work through with legal or financial counsel: how much cash remains, what total liabilities are, whether any personal guarantees exist, and whether creditors are likely to dispute the process.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{\"target\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"7f3MCGunCp42l1qL6PotF5\",\"type\":\"Entry\",\"createdAt\":\"2025-01-29T07:14:26.322Z\",\"updatedAt\":\"2025-01-29T07:14:26.322Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":7,\"revision\":1,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"ctaBlog\"}},\"locale\":\"en-US\"},\"fields\":{\"title\":\"Why This Matters Now\",\"copy\":{\"nodeType\":\"document\",\"data\":{},\"content\":[{\"nodeType\":\"unordered-list\",\"data\":{},\"content\":[{\"nodeType\":\"list-item\",\"data\":{},\"content\":[{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Approximately 85% of startups backed in 2021\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}},{\"nodeType\":\"text\",\"value\":\" are at risk of failing or running out of cash by 2024.\",\"marks\":[],\"data\":{}}]}]},{\"nodeType\":\"list-item\",\"data\":{},\"content\":[{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"VC funding\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}},{\"nodeType\":\"text\",\"value\":\" dropped from \",\"marks\":[],\"data\":{}},{\"nodeType\":\"hyperlink\",\"data\":{\"uri\":\"https://www.spglobal.com/market-intelligence/en/news-insights/articles/2024/1/global-venture-capital-investments-continue-downtrend-in-december-2023-80043834\"},\"content\":[{\"nodeType\":\"text\",\"value\":\"$$435B (2022) to $260B (2023)\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"text\",\"value\":\".\",\"marks\":[],\"data\":{}}]}]},{\"nodeType\":\"list-item\",\"data\":{},\"content\":[{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"The \",\"marks\":[],\"data\":{}},{\"nodeType\":\"text\",\"value\":\"average startup runway\",\"marks\":[{\"type\":\"bold\"}],\"data\":{}},{\"nodeType\":\"text\",\"value\":\" has shrunk from 18 months to 12 months.\",\"marks\":[],\"data\":{}}]}]}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\",\"marks\":[],\"data\":{}}]}]},\"backgroundColor\":\"purple\"}}},\"content\":[],\"nodeType\":\"embedded-entry-block\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Additional Considerations\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Employee Obligations\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Ensuring compliance with final paychecks is a critical first step when closing down operations. Each state has specific timing requirements for how quickly employees must be paid after termination. Review your state's rules and act promptly to avoid penalties.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Accrued PTO is another consideration. Some states require payouts for unused vacation days — confirm what applies in your state before calculating final compensation.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"If your company has 100 or more employees, the WARN Act requires 60 days' advance notice before large-scale layoffs. Missing this requirement can result in legal penalties and claims.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Employees must also be notified of their right to continue health coverage under COBRA. This must happen within 14 days of coverage loss.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Stock options require clear communication. Most have a 90-day exercise window after termination — if the stock is underwater, employees need to know this upfront so they can make an informed decision.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Asset Management\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/insights/simpleclosure-asset-hub/\"},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Intellectual property\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\" requires care during any closure. Patent assignments, trademark transfers, copyright assignments, and software escrow arrangements must all be handled correctly to complete the transfer of ownership.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Customer data obligations remain regardless of which closure method you use. Follow your privacy policy, honor any data transfer restrictions, and send customers clear notification of the closure.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Common Pitfalls to Avoid\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Missing statutory deadlines\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" for filings or creditor notices — this can trigger penalties and extend liabilities\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Mishandling creditor priorities\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" — ignoring the legal hierarchy of payments can lead to lawsuits or preferential transfer claims\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Running out of cash mid-process\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" — exhausting resources before completing the shutdown leaves obligations unmet and increases personal liability exposure\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Incomplete documentation\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" — poor record-keeping creates compliance issues and complicates any future audit or legal inquiry\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"italic\"}],\"value\":\"This article is for general informational purposes only and does not constitute legal, tax, or financial advice. Startup closure requirements vary by entity type, state, and specific circumstances. Consult legal counsel before choosing a shutdown path.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"If you need guidance on which path fits your company, \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/get-started/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"reach out for a consultation\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\". Working with experienced professionals can help you navigate the legal, financial, and operational requirements of closing your startup.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"document\"},\"faq\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"1v5ka2CaCPu7nBZ7elosNP\",\"type\":\"Entry\",\"createdAt\":\"2026-07-08T02:56:18.369Z\",\"updatedAt\":\"2026-07-08T02:56:18.369Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":10,\"revision\":1,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"paragraphs\"}},\"locale\":\"en-US\"},\"fields\":{\"entryName\":\"Managed Wind-Down vs. ABC vs. Bankruptcy: Startup Closure Guide [2026]\",\"name\":\"FAQ\",\"slug\":\"1v5ka2CaCPu7nBZ7elosNP\",\"content\":[{\"sys\":{\"type\":\"Link\",\"linkType\":\"Entry\",\"id\":\"3eYcgK4KQ5lQFFj0nPOkhD\"}},{\"sys\":{\"type\":\"Link\",\"linkType\":\"Entry\",\"id\":\"2zAlfrCrAhCGqtFHUzXVNC\"}},{\"sys\":{\"type\":\"Link\",\"linkType\":\"Entry\",\"id\":\"3qUPYE8SEiN7eeUWGLV6fZ\"}},{\"sys\":{\"type\":\"Link\",\"linkType\":\"Entry\",\"id\":\"4LaoVMWAqMrkwdDkB2m1WZ\"}},{\"sys\":{\"type\":\"Link\",\"linkType\":\"Entry\",\"id\":\"6xBm9Wp4MWlP8eGK8N8akv\"}},{\"sys\":{\"type\":\"Link\",\"linkType\":\"Entry\",\"id\":\"6BTKSzzGu6145bJD5o9Gss\"}}]}},\"metaTitle\":\"Managed wind-down vs. ABC vs. Bankruptcy: Startup Closure Guide\",\"metaDescription\":\"Compare managed wind-down, ABC, and bankruptcy for startup closure. Costs, timelines, liability protection, and how to choose the right path.\",\"index\":true}},{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"5Uh436RoVPgYi8RYwx6z8W\",\"type\":\"Entry\",\"createdAt\":\"2026-06-15T15:28:30.407Z\",\"updatedAt\":\"2026-06-15T16:30:19.166Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":26,\"revision\":4,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"blog\"}},\"locale\":\"en-US\"},\"fields\":{\"title\":\"Introducing the Shutdown Standard\",\"slug\":\"introducing-the-shutdown-standard\",\"created\":\"2026-06-15\",\"subtitle\":\"Why shutdown deserves a standard—and what we built to set it.\",\"author\":[{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"4sMju2eIeLPxmv8iupsApA\",\"type\":\"Entry\",\"createdAt\":\"2023-08-10T01:03:58.876Z\",\"updatedAt\":\"2026-06-29T17:52:17.054Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":64,\"revision\":25,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"person\"}},\"locale\":\"en-US\"},\"fields\":{\"slug\":\"dori-yona\",\"name\":\"Dori Yona\",\"title\":\"CEO, SimpleClosure\",\"image\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"6ZiiVWID1zzgmche8BKZ4N\",\"type\":\"Asset\",\"createdAt\":\"2023-08-10T01:03:53.558Z\",\"updatedAt\":\"2026-07-06T16:00:34.145Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":32,\"revision\":7,\"locale\":\"en-US\"},\"fields\":{\"title\":\"Dori Yona Profile Pic\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/6ZiiVWID1zzgmche8BKZ4N/ca0eeb8fc3a0617f739771dca93daacb/SimpleClosure-Dori.png\",\"details\":{\"size\":13613786,\"image\":{\"width\":4791,\"height\":4790}},\"fileName\":\"SimpleClosure-Dori.png\",\"contentType\":\"image/png\"}}},\"bio\":\"Dori Yona started SimpleClosure after facing a tough moment in his own business when he needed help closing down a company but couldn't find good advice anywhere. After running a company called Earny that millions of people used, he knew there had to be a better way to help business owners close their companies. Now, SimpleClosure helps founders shut down their companies faster and cheaper than traditional methods.\",\"linkedin\":\"https://linkedin.com/in/dori-yona-b8369877\",\"email\":\"dori@simpleclosure.com\",\"scheduleLink\":\"https://simpleclosure.com/get-started/\"}}],\"image\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"b0l8gtZvMp7HUlLugeKwg\",\"type\":\"Asset\",\"createdAt\":\"2026-06-15T15:19:15.225Z\",\"updatedAt\":\"2026-06-15T15:19:23.417Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":8,\"revision\":2,\"locale\":\"en-US\"},\"fields\":{\"title\":\"Introducing the Shutdown Standard Graphic\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/b0l8gtZvMp7HUlLugeKwg/8a876763bee5f6b97b48e915f52ae56c/LaunchBlog.png\",\"details\":{\"size\":1380887,\"image\":{\"width\":1230,\"height\":690}},\"fileName\":\"LaunchBlog.png\",\"contentType\":\"image/png\"}}},\"category\":\"Insights\",\"content\":{\"nodeType\":\"document\",\"data\":{},\"content\":[{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"Startups are built on ambition. But not every company ends in acquisition. Most end in closure, and for a long time, that ending had no standard.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nWhen I shut down my own company, I felt that gap personally. What could have been a manageable process became months of confusion, fragmented advice, and the persistent feeling that I was doing it wrong. Not because I wasn't capable. Because the infrastructure simply didn't exist. There was no trusted resource, no clear playbook, and no professional category built around this moment.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nThat experience is why we built SimpleClosure. \\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nWe launched with a straightforward belief: the startup journey deserves support at every stage—including the end. Formation has a standard. Building has a standard. Shutting down should too. So we set out to build one.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nThree years later, more than 6,000 companies have trusted us to support them. Responsibly, completely, and with the rigor this moment deserves. Behind every one of those companies are founders who have poured real time, real energy, and real belief into something. That’s not lost on us. It shapes how we do this work every single day.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nBecause clean closure isn’t just about wrapping up the past. It protects founders from the fees, penalties, and loose ends that follow them forward. It closes the chapter—fully and properly—so they can get back to what they do best: building and creating.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nToday, we’re introducing a new look for SimpleClosure. But beyond the visual refresh, this is a category statement. We’ve spent three years proving that shutdown deserves professional handling. The new brand is a clearer, sharper expression of that commitment, and of the standard we intend to keep setting. \\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nThe startup ecosystem has incredible infrastructure for building. We’re here to make sure it has  the same for closing.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nTo every founder, lawyer, accountant, investor, and partner who has trusted us along the way: thank you. You’ve helped prove this problem is worth solving for. And to those navigating closure during an already difficult moment in the founder journey—we’re here, and we’re ready. \\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\nHere’s to the standard this moment has always deserved.\\n\",\"marks\":[],\"data\":{}}]},{\"nodeType\":\"paragraph\",\"data\":{},\"content\":[{\"nodeType\":\"text\",\"value\":\"\\n-Dori\",\"marks\":[],\"data\":{}}]}]},\"metaTitle\":\"Introducing the Shutdown Standard\",\"metaDescription\":\"Why startup shutdown deserves a standard—and what we built to set it.\",\"index\":true}},{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"5MgCJycj6X7MFBjp0hCPKr\",\"type\":\"Entry\",\"createdAt\":\"2024-06-03T09:35:39.778Z\",\"updatedAt\":\"2026-07-23T03:07:08.378Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":72,\"revision\":14,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"blog\"}},\"locale\":\"en-US\"},\"fields\":{\"title\":\"How to Dissolve a Corporation in Delaware\",\"slug\":\"dissolve-delaware-corporation\",\"created\":\"2026-06-12\",\"subtitle\":\"Dissolving a Delaware corporation? Follow our clear, step-by-step guide to meet all legal requirements and close your business properly.\",\"author\":[{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"fXxB3kVpKDuG9wNGVxBvt\",\"type\":\"Entry\",\"createdAt\":\"2023-11-14T15:44:33.704Z\",\"updatedAt\":\"2026-03-05T23:23:38.027Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":9,\"revision\":3,\"contentType\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"ContentType\",\"id\":\"person\"}},\"locale\":\"en-US\"},\"fields\":{\"slug\":\"fXxB3kVpKDuG9wNGVxBvt\",\"name\":\"Jessica Pedraza\",\"title\":\"Legal Consultant\",\"image\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"7n9dVjM97MwmRABv1fMU42\",\"type\":\"Asset\",\"createdAt\":\"2023-11-14T15:37:30.795Z\",\"updatedAt\":\"2026-07-06T16:11:15.628Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":23,\"revision\":5,\"locale\":\"en-US\"},\"fields\":{\"title\":\"jessica pedraza\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/7n9dVjM97MwmRABv1fMU42/ebcb4c06161f9137aaa066672486fdc8/JessP.png\",\"details\":{\"size\":5250146,\"image\":{\"width\":3039,\"height\":3040}},\"fileName\":\"JessP.png\",\"contentType\":\"image/png\"}}},\"bio\":\"Jessica Pedraza is the VP of Legal Operations \u0026 Client Support at SimpleClosure. With experience in fund administration, cap table management, financing rounds, entity maintenance, and corporate compliance, she helps guide founders through complex legal and operational processes with clarity and precision. Jess works closely with founders, legal counsel, tax providers, and internal teams to ensure dissolutions are handled responsibly, efficiently, and with a strong focus on accountability.\",\"linkedin\":\"https://www.linkedin.com/company/simpleclosure\"}}],\"image\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"3r8ge8SYKsWxjApL5ovtFT\",\"type\":\"Asset\",\"createdAt\":\"2026-06-10T01:49:58.156Z\",\"updatedAt\":\"2026-06-10T01:49:58.156Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":4,\"revision\":1,\"locale\":\"en-US\"},\"fields\":{\"title\":\"blog 43\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/3r8ge8SYKsWxjApL5ovtFT/6dd7425028e2efd780cd406404c58f29/43.jpg\",\"details\":{\"size\":1231845,\"image\":{\"width\":2432,\"height\":1664}},\"fileName\":\"43.jpg\",\"contentType\":\"image/jpeg\"}}},\"imageRebrand\":{\"metadata\":{\"tags\":[],\"concepts\":[]},\"sys\":{\"space\":{\"sys\":{\"type\":\"Link\",\"linkType\":\"Space\",\"id\":\"tx0hc13c5c2c\"}},\"id\":\"3r8ge8SYKsWxjApL5ovtFT\",\"type\":\"Asset\",\"createdAt\":\"2026-06-10T01:49:58.156Z\",\"updatedAt\":\"2026-06-10T01:49:58.156Z\",\"environment\":{\"sys\":{\"id\":\"master\",\"type\":\"Link\",\"linkType\":\"Environment\"}},\"publishedVersion\":4,\"revision\":1,\"locale\":\"en-US\"},\"fields\":{\"title\":\"blog 43\",\"description\":\"\",\"file\":{\"url\":\"//images.ctfassets.net/tx0hc13c5c2c/3r8ge8SYKsWxjApL5ovtFT/6dd7425028e2efd780cd406404c58f29/43.jpg\",\"details\":{\"size\":1231845,\"image\":{\"width\":2432,\"height\":1664}},\"fileName\":\"43.jpg\",\"contentType\":\"image/jpeg\"}}},\"category\":\"Guides\",\"content\":{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"If you've decided to dissolve your Delaware corporation, it's important to follow the right steps to avoid any legal or financial issues.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"This guide provides a clear, step-by-step approach to help you understand the voluntary dissolution process. The goal is to ensure that all requirements are met and the closure is as smooth and trouble-free as possible.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Common Delaware Corporation Dissolution Scenarios\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Delaware corporations dissolve for many reasons. Here are three situations we see regularly, each with its own complexity and timeline.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Failed pre-seed startup returning funds to investors.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" A Delaware C-Corp raises $500K via SAFE(s), fails to reach product-market fit, and has roughly $150K remaining in the bank. With no employees and no outstanding creditor obligations, board and stockholders approve of dissolution and liquidation, and remaining assets are distributed in accordance with applicable law, the SAFE dissolution provisions, and the company’s governing documents. This is one of the cleaner paths: no creditor negotiation with minimal litigation risk. Timeline: 4–8 weeks from decision to formal dissolution.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Shell entity left after an acquisition.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" A Delaware C-Corp completes a partial asset sale—transferring its team and a technology license to an acquirer—but the legal entity itself remains open. The shell holds no active employees and no ongoing revenue, but it still requires formal dissolution filings, a final tax return, and confirmation that all state obligations are closed. Timeline: 2–3 months.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/posts/llc-termination-vs-dissolution/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Co-founder separation\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\" before dissolution.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Two founders decide to go separate directions. One co-founder's equity is bought back through a law firm before the dissolution is initiated. The remaining founder dissolves the entity with $8K in cash on hand and a SAFE investor who writes off their position. If the company had employees in multiple states, payroll accounts in each state must be closed before the dissolution is complete, which can add complexity and time.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Key Terms to Know\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Voluntary vs. involuntary dissolution.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" A voluntary dissolution is initiated by the corporation's own board and shareholders, as described in this guide. An involuntary dissolution is forced by the state (for failure to file annual reports or pay franchise taxes) or by a court order. For a deeper breakdown of both types, see our guide to \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/posts/voluntary-vs-involuntary-company-dissolution\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"voluntary vs. involuntary company dissolution\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\".\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Franchise tax.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Delaware's franchise tax is an annual fee charged for the privilege of being incorporated in the state. It is not a tax on revenue or profit — a company can owe franchise tax even if it never generated a dollar of income. All franchise taxes must be paid in full before a Certificate of Dissolution can be accepted.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Certificate of Dissolution.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" This is the official state filing that formally ends the corporation's active legal existence in Delaware and begins the post-dissolution wind-up period. After filing, the corporation may continue for limited purposes, such as resolving calais, paying liabilities, disposing of assets, and making final distributions. \",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Delaware offers two forms: a short form ($10 filing fee) for corporations that meet specific eligibility requirements, including having no assets, having ceased business captivity, and having paid only the minimum franchise tax for each year since incorporation. Corporations that do not meet the short-form requirements generally use the standard Certificate of Dissolution ($224 filing fee). \",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Asset distribution hierarchy.\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" During dissolution, the corporation must address creditor claims and known liabilities before distributing remaining assets to stockholders. After creditor obligations are paid, resolved, or appropriately reserved for, any remaining assets are distributed according to the company’s charter, cap table, and investor rights, including any applicable liquidation preferences.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Delaware vs. Other States: Key Differences\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"One reason Delaware is a common incorporation choice is that its dissolution process is relatively straightforward compared to other states.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\\n\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Delaware\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"New York\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"California\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Tax clearance required before filing\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"No\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Yes (Form TR-960 from NYS Dept. of Taxation and Finance)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"No\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Additional pre-filing step\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"None\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Must obtain written consent from NYS Tax Dept.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"May require Certificate of Election to Wind Up and Dissolve if shareholders don't vote unanimously\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Dissolution available\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Yes ($10 filing fee)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"No\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Yes (under certain conditions)\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Standard dissolution filing fee\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"$$224\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"See NYS Dept. of State for current fee\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"See CA Secretary of State for current fee\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Post-dissolution winding up period\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Up to 3 years\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Up to 3 years\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Wind up happens before dissolution\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"table-cell\"}],\"nodeType\":\"table-row\"}],\"nodeType\":\"table\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"New York's tax clearance requirement is the most significant practical difference: corporations cannot file for dissolution until the state confirms all taxes are filed and paid, which can add weeks or months to the process. Delaware imposes no such requirement, though taxes must still be current — the state simply does not gate the dissolution filing on a formal clearance letter.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Delaware is often more straightforward than states that require pre-filing tax clearance or additional tax-agency consent before dissolution. For example, some states require a corporation to resolve tax obligations with the state tax department before the Secretary of State will accept dissolution paperwork. Delaware does not require a separate tax clearance certificate before filing a Certificate of Dissolution, though franchise taxes and annual reports still need to be current.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step 1: Board of Directors \u0026 Shareholders Agree to Dissolve the Corporation\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"A corporate dissolution in Delaware starts with the board of directors adopting a resolution to dissolve. Then, all eligible shareholders must vote on the matter (to ensure that those invested in the company support the decision). The corporate dissolution process formally begins once the majority favors dissolution. This is typically done by the board adopting a resolution recommending dissolution, and stockholders then approving the dissolution by the required vote under Delaware law and the corporation’s governing documents. \",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Note:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Shareholders entitled to vote have the option to provide written consent in lieu of attending \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://delcode.delaware.gov/title8/c001/sc10/index.html#275\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"a formal meeting\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\".\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The board needs to properly notify its shareholders by sticking to the following \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://delcode.delaware.gov/title8/c001/sc07/index.html#222\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"guidelines\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\":\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Send written notice to shareholders before the meeting, as specified in the Certificate of Incorporation.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Include the purpose, date, time, and place of the meeting (and instructions for remote access if that's an option).\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Deliver the notice via U.S. mail, courier service, or email.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"You should document the board's resolution and the shareholder vote in the corporation's official records. Make sure to keep detailed minutes of the shareholders' meeting, including all discussions and the vote results.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"If you're using the written consent method, collect all written consents, document them, and store them properly.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step 2: File Form 966 and Settle State Tax Obligations\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Once the shareholders agree to dissolve the corporation, the next step is to complete the required tax-related filings, settle all financial obligations with the state, pay outstanding taxes, and file the necessary annual reports.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Before moving forward with state filings, corporations should file \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://simpleclosure.com/blog/posts/state-laws-for-corporate-dissolution/\"},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"IRS Form 966\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\", Corporate Dissolution or Liquidation. This form notifies the IRS that the corporation has adopted a resolution or plan to dissolve and is generally due within 30 days after that resolution or plan is approved. Form 966 is separate from the corporation’s final federal tax return, which is filed later for the tax year the business closes.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Once the IRS has been notified, the next step is to get current with Delaware and any other states where the corporation has tax obligations\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Settle State Taxes\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"1. Franchise Taxes:\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-4\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Franchise taxes are the annual fees charged to companies for the right to do business in different states. Delaware offers two methods to calculate these taxes: the Authorized Shares Method and the Assumed Par Value Capital Method (The \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://corp.delaware.gov/frtaxcalc/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"Delaware Division of Corporations\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\" page shows how).\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"It's wise to calculate your taxes using both methods to see which results in a lower tax bill. Ensure all franchise taxes are paid up to the date of dissolution, including taxes for the current year and any past-due amounts (otherwise, you can't \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://law.resource.org/pub/us/code/de/title8.web.pdf\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"legally dissolve\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\" the company).\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"2. Other State Taxes:\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-4\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Beyond franchise taxes, settle all other state taxes, including state income taxes if your corporation earned income, payroll taxes if you have employees, and sales taxes if you've collected sales tax. Each of these must be paid up to date to avoid any issues during the dissolution process.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"File Annual Franchise Tax Report\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-3\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"In addition to paying taxes, you must also file your final annual franchise tax report, which details your corporation's status and financials.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"This report must include key information like your corporation's name, principal office address, the names and addresses of directors and officers, and the number of authorized shares. Gather this information ahead of time to avoid bottlenecks.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The fastest and most efficient way is to file the franchise tax report online through the Delaware Division of Corporations' website. When submitting the report, you'll also need to pay the associated filing fee, which is detailed on the Division's \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://corp.delaware.gov/paytaxes/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"website\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\".\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Unlike some states, Delaware doesn't require a tax clearance certificate to file the Certificate of Dissolution. However, ensuring all taxes and fees are paid is crucial to avoid potential legal complications.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Finally, maintain records of all your tax payments and filings, including receipts, confirmation emails, and copies of filed reports. These documents are essential for legal and tax purposes, so you should keep them for a few years after your corporation shuts down.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step 3: File a Certificate of Dissolution\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step number 3 is to file the Certificate of Dissolution. In the state of Delaware, this certificate is of two different types: a standard form and a short form.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Use the short form if your corporation has no assets, has stopped all business activities, and has paid the minimum franchise tax (for each year since its incorporation). The short form has a $10 filing fee.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The standard form, on the other hand, is for corporations that don't meet the above requirements and has a $204 filing fee. Whichever form you end up using, you will need to submit the following details within the Certificate of Dissolution:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The corporation's name\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The date of incorporation\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The exact date when the dissolution was authorized\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The names and titles of current officers and directors.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"To file the certificate, mail the completed form, cover memo, and filing fee to the \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://corp.delaware.gov/disso09/\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"Delaware Department of State\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\". Some preliminary steps and fee payments can often be submitted online, speeding up the process. Ensure that an authorized officer of the corporation signs the form.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"After filing, you will receive a confirmation from the Delaware Department of State. It is important to keep this confirmation and verify that the corporation's status is updated to \\\"dissolved\\\" in state records.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Note that the corporation can continue existing for up to three years post-dissolution to wrap up any remaining business, such as legal actions, debt settlement, and asset distribution.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step 4: Notify Your Creditors\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Delaware provides a formal process for giving notice to known claimants and setting a deadline for claims. This process is optional, but if used, it must follow statutory requirements. Companies should consult counsel before relying on a creditor notice process to limit future claims.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Under \",\"nodeType\":\"text\"},{\"data\":{\"uri\":\"https://delcode.delaware.gov/title8/title8.pdf\"},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"underline\"}],\"value\":\"Delaware law\",\"nodeType\":\"text\"}],\"nodeType\":\"hyperlink\"},{\"data\":{},\"marks\":[],\"value\":\", a notification is valid if it includes all of the following:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Statement of Dissolution:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Clearly state that the corporation is in the process of dissolving.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Claim Submission:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Inform readers that they must submit their claims in writing, including the amount owed and the basis for the claim.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Mailing Address:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Provide a specific address where creditors can submit their claims.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Deadline for Claims:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Specify the deadline (the deadline cannot be earlier than 60 days from the date of the notice).\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Consequence of Missing Deadline:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" State that your corporation will not entertain any claims made after the deadline.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Distribution Information:\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" Include a statement that the corporation or its successor may distribute remaining assets to other creditors and shareholders without further notice to the claimant.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"list-item\"}],\"nodeType\":\"unordered-list\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Send notices to known creditors via registered or certified mail. If using Delaware’s formal notice process for unknown claimants, the notice should also be published in a newspaper of general circulation in the county where your corporation's principal office is located.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The following is a creditor notification template you can take inspiration from:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"[Corporation Name]\",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[],\"value\":\" \",\"nodeType\":\"text\"},{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"[Corporation Address]\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"NOTICE OF DISSOLUTION\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"To Whom It May Concern:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"This notice is to inform you that [Corporation Name] is in the process of dissolving. As such, we are notifying all known creditors and claimants of this dissolution.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"If you have a claim against [Corporation Name], you must submit your claim in writing. Your claim should include the amount owed, the basis for the claim, and any supporting documentation. Please send your claim to the following address:\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"[Mailing Address]\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"All claims must be received by [Deadline Date, at least 60 days from the date of this notice]. Any claims received after this date will be barred.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"The corporation or its successor may distribute the remaining assets to other creditors and shareholders without any further notice.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"Sincerely,\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"[Authorized Officer's Name]\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"bold\"}],\"value\":\"[Title]\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step 5: Settle Debts and Distribute Remaining Assets to Shareholders\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Once creditor claims and liabilities are paid, resolved, or reserved for, remaining assets may be distributed to stockholders according to the company’s governing documents, cap table, and investor rights. For venture-backed corporations, this often requires reviewing liquidation preferences, SAFE or convertible note terms, and any other contractual rights before making distributions.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Start by reviewing and validating each claim. Pay off valid claims if possible, and if not, distribute the assets according to their priority under state law. Also, document all payments, including the amount, date, and recipient.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Once these debts are settled, note what's left of the corporation's assets. Then, distribute these remaining assets to shareholders based on their ownership stakes.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Ensure that asset distribution is consistent with the company’s governing documents and applicable priority rules. Like the debt settlement process, you should record all the necessary details, including who received what and when.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"By carefully settling debts and distributing assets, you fulfill the corporation's financial obligations and ensure each shareholder gets their fair share.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Step 6: Close Bank Accounts and Cancel Licenses \u0026 Permits\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"The final step in dissolving your corporation is to tie up any loose ends. This includes closing bank accounts, canceling licenses and permits, and other state registrations.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Begin by reconciling all transactions (to ensure everything is in order) and distributing any remaining funds from your corporate accounts to shareholders. Then, contact your bank to close these accounts and request a written confirmation.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Next, cancel any business licenses and permits your corporation holds, including state, local, and special permits. Reach out to the relevant authorities to complete this process and request confirmation of cancellation.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"If your corporation is registered to do business in other states, you must terminate these registrations. File the necessary withdrawal forms with the appropriate state agencies and include any required documentation and fees. Again, make sure to get confirmation that the registrations have been terminated.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Notify the Delaware Division of Revenue to ensure all state tax filings are complete and that there are no outstanding tax obligations (including any employment and payroll tax obligations at the state level).\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Finally, complete your final federal and state tax filings, including the corporation’s final federal income tax return and any required employment, payroll, contractor, or state tax filings. After all required returns are filed and taxes are paid, you can request that the IRS deactivate the company’s EIN and close the IRS business account. Keep corporate, tax, payroll, dissolution, and distribution records for the applicable retention period.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"By thoroughly closing all accounts, canceling licenses and permits, and terminating out-of-state registrations, you ensure the corporation's operations are properly concluded.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Conclusion\",\"nodeType\":\"text\"}],\"nodeType\":\"heading-2\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"Dissolving a Delaware corporation requires more than filing one form. Founders need to coordinate approvals, franchise taxes, creditor obligations, federal and state tax filings, account closures, and final records. Some companies handle this with attorneys, accountants, and internal operators. Others use a managed shutdown process to coordinate the moving pieces and reduce founder workload.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"SimpleClosure helps founders manage the administrative and operational work of shutting down a company, from dissolution filings to wind-up coordination. Reach out to see how we can help.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[],\"nodeType\":\"hr\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[{\"type\":\"italic\"}],\"value\":\"This article is for general informational purposes only and does not constitute legal, tax, or financial advice.\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"},{\"data\":{},\"content\":[{\"data\":{},\"marks\":[],\"value\":\"\\n\",\"nodeType\":\"text\"}],\"nodeType\":\"paragraph\"}],\"nodeType\":\"document\"},\"metaTitle\":\"How to Dissolve a Corporation in Delaware\",\"metaDescription\":\"Dissolving a Delaware corporation? 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