What is the extinct company?
The extinct company is a company that is no longer active or operational. The local or state government usually applies the status of the extinct company and is a legally binding name. An extinct company can obtain this status in different ways. One of the primary ways of presenting legal documents and paperwork, which the company is obliged to file with its state. For example, if it is a corporation company, then the Foreign Minister requires the company to report an annual report. If the company does not provide an annual report and pays the fee that the state requires for submission, the company will go to an inactive state. Finally, according to the time framework set by the state, the inactive status turns into an extinct company that is no longer able to operate in the state. Owners may decide that the company will no longer change acceptable profit. Although it is more of a choice than a force when the darkers decided to close the business door, it is also an extinct business - a company that alreadydoes not work.
When a company is bankrupt, this is another way that usually leads to an extinct company. If the company submits bankruptcy but then continues the company and sells its products and services, then the company is not extinct. It is when the company submits bankruptcy and closes its door forever, is defined as an extinct company.
Another way to call companies to disappear is if the government agency closes the company. For example, if one of the laws of the Securities and Stock Exchange Commission (SEC) violates the business of the financial services, the government may come and force society to close its door. Usually these are repeated offenses, where the company was warned of its incorrect actions, fines and Given the opportunity to correct their crimes.
If the company continues to operate illegally, it may become an extinct company when the local region, state or federal government and closedI am doing business. Finally, the company may be extinct choice or force from a third party.