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Ep13 – Shuttering a Business: Things to Consider

For Episode lucky number 13 of the Business Decisions podcast, we’re joined by Ally Compeau. Ally is currently part of the team at Flipp, which is a very exciting company, but we wanted to speak with her about her company Woof Signs, which was shut down in 2018. Caravel Law purchased a sign from Woof Signs and it was a great experience and a beautiful sign. Ally shares the full story of Woof Signs – from the decision to start the company through the decision to shut it down. It’s a difficult decision to shut down your company, and Ally describes the process of dissolving her corporation as taking longer and costing more than she expected. This is a part of the start-up journey that doesn’t get talked about as much, so it was great that Ally was willing to share her story with us on the podcast for others to learn from. Her dog even joins the conversation to pay tribute to Woof Signs!
 
Following the conversation with Ally, (22:00) we’re joined by Randy Witten, a corporate and commercial lawyer with Caravel Law. Randy outlines some of the things that owners need to consider if they are faced with shutting down a business, key things that a founder needs to keep in mind and what to look for in contracts and agreements that could have an impact on his/her responsibilities.
 
It’s important to note that Randy Witten is sharing his thoughts on general topics and questions and not anyone’s specific business or legal situation. Nothing you hear on this podcast should be considered legal advice.
 
Links:
Host: Stuart Wood, Caravel Law
Theme Music: The Box Jellys
Special Guest Star: Frankie!
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