If a company is dissolved, it means that the business has been formally and legally closed and removed from the official register. The company ceases to exist as a legal entity and can no longer operate, trade, enter into contracts, or conduct business activities. Dissolution involves settling all outstanding debts and obligations, liquidating assets, filing final tax returns, and notifying interested parties such as creditors, shareholders, and employees. The company no longer has legal standing, and any remaining assets may pass to the government if not claimed. It is a formal and final closure process that typically requires filing dissolution paperwork with the relevant government authority (such as Companies House in the UK or the secretary of state in the US). Directors and owners must handle all legal, financial, and administrative responsibilities properly to avoid legal consequences. Sometimes, dissolved companies can be restored under specific conditions, but voluntary dissolutions usually mean the end of the company unless a new entity is formed. The dissolution clears the company from the register, marking the end of its existence as a business entity.
