close your business with a legaletch

Closing your business using a legaltech: when, why and how?

Various other digital platforms are able to perform the legal procedures business-related. THE legaltechs intervene at each stage of their existence, including during their cessation of activity. They can thus take charge of administrative formalities necessary for the liquidation of a company. Foundation-company-ricard offers you a folder that described this form of assistance, and which answers the questions: when, Why et how to close your business with a legaltech ?

close your business with a legaletch

Stopping your business using a legaltech, what is it?

The legaltechs are companies that use technology to automate of legal services. They are not only aimed at companies, but also at individuals.

Automation can be complete or require human assistance. She focuses on the drafting of legal documents and filling of administrative documents.

Online legal platforms are an integral part of a process of dematerialisation as well as digitizing of business services.

It is important to emphasize that it is the companies that provide the information required for their closing. Then, software assembles the data entered and automatically generates the acts.

When can the management of procedures resulting from a dissolution be entrusted to a legaltech?

Regarding the dissolution of a company, only companies whose financial situation is healthy can subcontract the formalities to a legaltech. In other words, they should not not be in default and must be able to repay their creditors.

Otherwise, the partners cannot dissolve their partnership amicably. They must then file for bankruptcy and request placement in compulsory liquidation. The dissolution will only be final if the possibility of reorganizing the company is ruled out by the judge.

Why is it advantageous to use a Legaltech to close your business?

The legaltechs have automated their processes to enable their customers to reduce their costs of procedures related to closure. This digitization allows them to achieve savings significant on their operating costs. They are thus able to apply them to their prices.

In fact, they don't needphysical agency because clients do not travel (therefore they have lower rental charges than lawyers) and do not intervene systematically a lawyer to work on the files.

How to find the right legal tool to close your business?

There are a multitude of legaltechs online: Legalstart, Captain Contract, Legal Agency, LegalPlace, etc. It's not always easy to make a choice. However, there is no perfect solution. Each service responds to a needs.

Some people may want their dissolution costs as little as possible. In this case, they only have to choose the supplier offering the lowest price.

Others will choose, on the other hand, to close their company by taking all the precautions necessary, even if it will cost them more and they will have to resort tointervention of a professional (for example, a lawyer).

Finally, others will place themselves at an intermediate level and will choose an online service whose cost is not necessarily the lowest, but which has obtained good ratings and reviews of users.

 

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You can also read about business closures:

When to close your business using a legaltech?

It is advisable to close your business using a legaltech when the business ceases operations, the owner has no intention of relaunching it, and all debts have been paid.

Why close your business using a legaltech?

Legaltechs offer online business closing services, which is more convenient and faster than the traditional administrative procedure. They also offer support services for entrepreneurs who wish to learn about the process and the steps to follow when closing their business.

How to close your business using a legaltech?

To close your business using a legaltech, you will first need to find a legaltech that offers business closing services and that meets your needs. Once you have chosen a legaltech, you must follow the legaltech's instructions to implement the closing process. This may include filing the necessary documents with the relevant authorities, notifying customers and suppliers, and paying taxes and duties.

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