The termination of a company refers to the factual state and legal result that the company completely terminates its business activities in accordance with legal procedures, so that its legal personality disappears; The legal liability of company termination refers to the legal consequences caused by the failure of the responsible subjects in the company termination procedure, including the liquidation obligor and the liquidator (group) to perform their due liquidation obligations in accordance with the provisions of relevant laws and regulations.
Extended data:
Characteristics of company termination:
1. The legal significance of the termination of the company lies in the elimination of the company's legal person qualification and market operation subject qualification.
2. The termination of the company must be carried out in accordance with legal procedures.
3. The termination of the company must go through liquidation procedures, and the company can be eliminated only after paying off debts with the company's property and distributing the remaining property.
Baidu Encyclopedia-Company Termination