Legal Question in Business Law in Illinois

Articles of Incorporation - Reactivate Business

I incorporated a business in approximately 1986 and ran the business until 1997. At that point my friend and I just gave it up to get involved in other business ventures. We want to get involved in the original business again using the same name. What needs to be done to get the corporation back up and running?


Asked on 4/29/09, 1:16 pm

2 Answers from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Articles of Incorporation - Reactivate Business

You need to follow the reinstatement procedures for the Secreatry of State. Good luck

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Answered on 4/29/09, 1:19 pm
David K. Staub Staub Anderson LLC

Re: Articles of Incorporation - Reactivate Business

You can't reinstate a corporation that has been inactive that long. Even if you could, it would be expensive and I see no real reason to do so if all you want is to start a new business using the same name. Just form a new entity (assuming the name is available).

At this point, you may also want to consider whether an LLC rather than a corporation best suits your needs. Illinois did not allow LLCs in 1986 when you first formed your previous business.

You can get more information on LLCs at

www.LimitedLiabilityCompanyCenter.com

David

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Answered on 4/29/09, 2:06 pm


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