Glossary · Doing the deal
In short
The formal legal process of closing down a business entity, effectively ending its legal existence. As a buyer, you must ensure the seller properly dissolves the selling entity if it is not being acquired.
If you are purchasing the assets of a business, the seller's original legal entity often remains after the sale and must be formally dissolved. Ensure your purchase agreement clearly specifies who is responsible for this process, as unresolved liabilities from the seller's old entity could potentially create issues for you down the line.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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