Dear Members,
Here are some of the legal points you need to keep in mind to ensure that you make a clean exitโฆ
1. Be clear about how you will pay your liabilities, if any, to creditors.
2. If you need to file for insolvency, find out how to go how to go about it.
3. Find out if you have any outstanding tax obligations.
4. Be prepared to deal with your current clientsโ pending projects.
5. If you have employees, give them adequate notice and clear their dues.
6. If you have partners, members and other stakeholders, notify them too.
7. Review your partnership agreement to ensure that you have met your legal obligations.
8. Find out if you are entitled to any compensation from other partners or franchiser.
Source: ET Wealth