Restructuring an Entity
Many internal and external changes occur over the life of a business or nonprofit. Due to changing circumstances, you may find it favorable to change the way your entity is structured. There are several ways to restructure, but changes to an entity’s legal identity typically come in the form of a merger, conversion, or domestication.
Mergers are intricate business agreements used to consolidate two or more entities. There are a number of reasons for entities to consider a merger, but common goals include increasing market share, diversifying, and cutting costs. To learn more about mergers, click here.
Conversion allows you to change the entity type of your business or nonprofit. Depending on the states involved, your business may also be able to change its home state during the conversion process. To learn more about conversions, click here.
Filing a statement of domestication changes the home state of your entity. Instead of dissolving your existing entity and reforming in a different state, domestication allows your entity to remain in existence while transferring to the authority of a new jurisdiction. To learn more about domestications, click here.