Law

Terminating a business can be a difficult decision, especially if it is a long-standing part of your life. However, maintaining an inactive one can cause financial hardship or legal risk over time. Regardless of the reason behind your decision, closing an inactive company can be a necessary step for moving forward with your life.

Should You Close Your Inactive Business?

Shutting a firm down is never an easy choice, but there are valid reasons some owners decide it is the best path forward.

The lines between work-life balance are constantly blurred in today's remote and hybrid workforce, especially as modern technology has given rise to around-the-clock accessibility. Employees demand schedule flexibility and respect for their personal lives, while employers expect teams to prioritize their jobs, regardless of the time. The result is often burnout, stress and a decline in productivity. 

California's "Right to Disconnect" bill sought to remedy the issue by limiting communications during off-work hours, much to corporate dissatisfaction. However, the bill didn't pass, leaving many wondering what's next for ensuring work-life balance and supporting employee well-being. 

Taking your business public is a significant milestone that can open new opportunities for growth and expansion. Going public can provide access to substantial capital, increase your company’s visibility and enhance its credibility. However, the transition of an initial public offering (IPO) also brings new challenges.

To achieve success, careful preparation and thoughtful planning are essential. There are numerous considerations to have in mind, and knowing each of them will be critical to ensuring public ownership is a good decision.

Everyone in business technology and IT must understand the world’s leading compliance frameworks and cybersecurity certifications to stay competitive and informed. The landscape is changing perpetually, from transitioning to cloud infrastructure to managing AI-gathered data. What are the foundational compliance systems for the most well-regarded tech experts, and how easy is it to obtain them?

1. ISO 27001 and 27002

The International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) house the world’s most regarded cybersecurity frameworks. They solidify a company’s authority and enhance security efficacy.

The goal of many law school graduates is to land a job at a mid sized or large law firm right out of school. They value the security and learning opportunities from experienced lawyers, the benefits of having existing clients, and the relief of practicing law without concern for the business side of things.

For the more entrepreneurial among them, the appeal of starting their own solo firm is more attractive than working for someone else. This offers control and flexibility, and despite the risks, they can build something that’s theirs.