This is FindLaw's Law Firm Management Center's collection of free articles related to Closing Business. Every business has a lifespan, and law firms are no different. At some point, it may be necessary to close your law practice. Understanding local, state and federal requirements and implications of closing your business is of utmost importance in these situations. Start your research with FindLaw.
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Closing Your Business Articles
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Small Business Succession Planning Strategies
There are more than 27 million small business owners in the United States. At some point during the life of the business, many business owners will have to decide when the right time to step out of the business will be, and the best way to do it. There are many tools business owners can use to transfer their business. Selecting the right one will depend on the circumstances -- whether business owners plan to retire from the business or keep it until they die. If the business owner has partners, it can be one of the most important decisions a business owner will make.
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Asset Liquidation Checklist
The time may come to close your business. If you are not able to sell your business and other succession strategies have failed, liquidating the assets may be the only remaining option.
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Key Considerations for Selling Your Law Firm Business
After investing years of hard work, time, and money, you have decided to sell your business. Executing on this decision requires much thought and a methodical approach, so you can maximize benefits of the decision and minimize the risks.
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Top Reasons for Small Business Failure and Factors to Consider
Only about half of new small businesses survive five years or more, reports the Small Business Administration (SBA). Why is that so many small businesses fail? What should potential small business owners consider when thinking about starting their own business?
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Closing Your Law Firm Business
Closing a business is no small matter. There are so many things that must be done. Where do you even begin? What considerations should be on your radar?
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Succession Planning: Your Exit Strategy
Business owners often invest all their time and energy into starting a business but fail to consider how they will eventually exit the business. How you exit your business is just as important as how you start it. It requires thoughtful planning, and may take weeks to years, depending on the size of the organization, the reasons for exiting, and whether any disputes have arisen.
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Your Firm's Future: Succession Planning Meets Marketing
From managing partners at firms I hear: we have a successful firm today, but too few rainmakers among the ranks of our senior and newer partners. I am concerned that my firm does not have a future, and I would like to retire in the next ten years.