Roquemore Skierski PLLC

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Frisco Business Dissolution Lawyer

Roquemore Skierski provides Frisco business owners with guided business dissolution assistance. 

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Frisco Business Dissolution Lawyer

Dissolve Your Business in Frisco With Our Business Dissolution Attorneys

Business dissolution is the legal process of bringing a business entity to a formal close. Companies in Frisco may dissolve for a variety of reasons, including ownership changes, strategic realignment, internal disputes, compliance failures, or the expiration of governing terms. Whether the decision is deliberate or triggered by operational challenges, dissolution creates legal and financial responsibilities that require organized planning and sound legal support.

 

Roquemore Skierski PLLC’s Frisco business dissolution lawyers work with owners, executives, and investors throughout Frisco and the surrounding North Texas business community. Our clients are often closely involved in daily operations and rely on guidance that is practical, detailed, and focused on protecting stability during a transition.

 

When we take on a dissolution matter, our focus is on clarity and structured decision-making. Whether your situation requires protective measures or a planned wind-down, we design strategies that reflect the realities of your business. We understand what is at stake. Your finances, reputation, time, and future plans depend on a careful dissolution, and we work to safeguard those interests.

What business dissolution involves

Business dissolution is the formal legal termination of a company under Texas law. This can occur voluntarily through a decision by the owners or involuntarily through administrative action or court involvement. Once dissolved, the entity no longer accumulates franchise taxes, filing obligations, or statutory penalties.

 

For Frisco businesses, the process typically includes filing with the Texas Secretary of State, closing franchise and other state tax accounts, and coordinating with banks, landlords, vendors, and creditors. Halting operations alone does not end liability. Unless all legal steps are completed, the business continues to incur obligations and risk.

The three steps required to shut down a company

Closing a business generally involves three central steps:

 

  • Legally dissolving the company in the state where it was formed
  • Winding up the company’s remaining affairs
  • Closing out and distributing assets to investors

 

Once dissolution is authorized, the winding-up period begins. This phase involves collecting outstanding receivables, addressing creditor claims, reviewing and concluding leases or service contracts, and issuing final employee wages or benefits. Owners should reconcile accounts, store records as required, and resolve secured obligations to release liens.

 

Only after debts and obligations have been settled should remaining assets be distributed based on the operating agreement, bylaws, or partnership agreement. Frisco businesses may also need to terminate assumed names in Collin or Denton County, close sales tax and payroll accounts, and end registrations in other states where they conducted business.

How voluntary and involuntary dissolution differ

Voluntary dissolution occurs when owners decide to end operations following the procedures outlined in their governing documents. Involuntary dissolution happens when the state or a court initiates closure because of compliance failures, disputes, or operational issues.

 

Administrative or involuntary dissolution may occur when a business misses required state filings, fails to maintain a registered agent, or falls out of good standing. Even after involuntary dissolution, an entity typically retains authority to wind up its affairs, although reinstatement deadlines can apply. Voluntary dissolution allows owners to plan ahead, settle obligations, and complete the process with greater control.

How long it takes to dissolve a Texas business

The dissolution timeline in Texas consists of two main phases. The first involves winding up the company’s internal affairs, which can take several weeks or months depending on the size of the business and the number of outstanding obligations. The second involves filing the Certificate of Termination with the Texas Secretary of State, which is usually processed within a few business days if tax clearance has been obtained.

 

The total time depends on how quickly the business resolves debts, receives Comptroller clearance, and withdraws from other states if required. Frisco businesses with multi-state operations should plan for additional time to complete these steps.

What happens to debts and contracts after a business dissolution

Dissolving a business does not eliminate existing financial or contractual responsibilities. Creditors may still pursue repayment, and agreements such as leases or vendor contracts remain binding unless renegotiated or terminated. Many business agreements include survival clauses for confidentiality, indemnity, and intellectual property obligations that continue even after dissolution.

 

Frisco business owners should review each contract to determine whether obligations can be assigned, negotiated, or ended. Personal guarantees often remain enforceable. Clearing liens and resolving secured obligations helps prevent future claims and reduces the risk of personal liability.

Our Frisco business dissolution lawyers help businesses and partnerships make a clean break

Partnership divorce occurs when business partners part ways due to conflict, strategic change, or long-term differences. The process often involves separating assets, resolving liabilities, and reallocating responsibilities. Roquemore Skierski PLLC helps Frisco clients protect their interests and bring structure to partnership separation.

Voluntary dissolution occurs when owners intentionally wind down business operations. This can stem from retirement, market changes, new opportunities, or strategic decisions. When managed properly, voluntary dissolution reduces liability and ensures compliance with Texas law. Our attorneys help guide clients through each stage of the process.

Involuntary dissolution occurs when a business is required to close due to statutory issues, disagreements among owners, or court intervention. These events can escalate quickly if not handled with care. Roquemore Skierski PLLC assists Frisco businesses facing involuntary dissolution by protecting ownership interests and minimizing disruptions.

Judicial dissolution takes place when a court determines that a business cannot continue operating due to deadlock, oppressive conduct, or governance failures. These matters often involve disputes over valuation, control, or operational direction. Our attorneys represent clients who seek judicial dissolution or who must defend against such requests.

Some businesses automatically dissolve when the period listed in their formation documents expires. Even in these cases, owners must complete the full winding-up process and satisfy outstanding obligations. Our firm assists clients with completing these steps so that the business closure remains compliant and orderly.

Administrative termination occurs when the state dissolves a business for missed filings, unpaid fees, or failure to maintain good standing. This can disrupt financing, contracts, and day-to-day operations. Roquemore Skierski PLLC helps businesses resolve compliance issues, pursue reinstatement when appropriate, or complete a controlled closure when reinstatement is unavailable.

Attorney Kelvin Roquemore

Kelvin Roquemore

Business Dissolution Attorney

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Navigating a business dissolution is difficult

Roquemore Skierski PLLC provides structured counsel to businesses throughout Frisco and surrounding communities that are approaching a dissolution. Our attorneys understand the practical and legal pressures companies face during these transitions and offer guidance aimed at protecting long-term stability.

 

We combine detailed legal knowledge with a tailored approach that reflects each client’s operational and financial circumstances. Our goal is to support business owners as they safeguard their interests and move forward with clarity.

 

Whether you are planning a voluntary wind-down or responding to a required closure, our Frisco business dissolution lawyers are prepared to guide you through each stage. We help Texas business owners review their options, resolve disputes, and complete a clean and compliant exit.

While our business litigation attorneys are based in Downtown Dallas, we proudly serve clients in and around Addison, Carrollton, Cedar Hill, Coppell, DeSoto, Farmers Branch, Flower Mound, Forney, Garland, Grand Prairie, Grapevine, Highland Park, Irving, Oak Cliff, Richardson, Rockwall, Rowlett, Royse City, University Park, and the surrounding area. Whether your company is facing a contract dispute, partnership conflict, or other commercial challenge, we deliver strategic counsel and strong representation across the DFW Metroplex.