16
Dec
10

Small Business Filing for Bankruptcy? Don’t Forget the Small Stuff.

Times are tough, your small business has fallen behind on bills, and creditors are filing suit.  You make the decision to file for bankruptcy and liquidate the business.  When listing the assets of the company, don’t forget the small stuff.

Your company name, web address, phone number and other intangibles may have value and should be listed as an asset.

Chances are unless your Microsoft or Home Depot these items are not going to have much value and it’s not going to be worth the trustee’s time to try to sell them.  Nevertheless, in my personal experience I have run across creditors who were interested in purchasing the phone number and company name.  So for practitioners and debtors alike, be sure to keep in mind the small stuff when listing assets.

www.financialfreshstart.org

info@financialfreshstart.org

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The content found on the financialfreshstart Blog is not legal advice and is purely for informational purposes. The Zarcone Law Firm does not guarantee the accuracy, integrity or quality of submissions. The information provided by the bloggers on this site may not represent the opinions of the Zarcone Law Firm or its affiliates. The information contained herein is not a substitute for the advice of an attorney.

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