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This content is for informational and educational purposes only. It is not legal advice and does not create an attorney-client relationship. For advice about your specific situation, consult with a licensed attorney.
A zombie business is what happens when a business loses its owner or a key owner without any plan in place for what comes next. The owner is gone, but the business staggers forward without direction, without legal authority, and without any structure to resolve the chaos.
It can happen when a founder dies, becomes incapacitated, or simply wants to retire. It can happen when a co-founder relationship falls apart with no exit plan. But death is the clearest example, and it is where the consequences hit hardest.
Are there horrors lurking in your business’s outdated operating agreements or bylaws, problematic contractor agreements, expired licenses, or other dusty business corners? If you’re not sure, right now is the time to find out, before they cause serious problems. This is essential business maintenance you need to do at least once a year. This article, gives you a clear 7-point checklist you can work through now to save yourself major headaches.
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