For advisors
Recovering value for clients in a company dissolution
You advise on the dissolution. Vetrix is not a law firm, and a description of a license is not your opinion. Raise the records while the client can still sign, and ask who has authority to license. You review the paper. You sign only when a written authority already makes you an officer of the client. Personal details stay out of the copy.
Up to $150K · $0 cost · 3 days
| Fact | Detail |
|---|---|
| Who is speaking | Vetrix is not a law firm. A description of a data license is not an opinion on your client's dissolution. |
| Personal details | Names, emails, phone numbers, and customer and staff details are never in the copy. That is the personal-data point to give the client. |
| Right to license | The client has to show the right to license, including systems that hold a customer's data or a former parent's data. |
| Timing | Flag the license before the company loses the ability to sign. Ask, in the jurisdiction you practice, when that moment arrives. |
| Introduction | There is no referral fee. Introducing a client is not a paid channel. |
What wind-down lawyers are deciding
You are a dissolution lawyer. A client asks whether leftover records are an asset you should raise before the company can no longer sign. Vetrix is not a law firm. Your engagement letter remains the advice. You review authority, you separate company records from client records and former-parent records, and you tell the client what personal details stay out. You do not sign unless a written authority already makes you an officer. The engagement does not include that signature unless the writing says so.
Your role as a wind-down lawyer, and who signs
Raise the license early enough that the people who can bind the company are still in place. Ask, in the jurisdiction you practice, when that ability ends. The enquiry form does not answer that question. A closed company may enquire later. That enquiry does not decide capacity. Your advice does. There is no referral fee for introducing the client. The client company sends the enquiry. You can read the agreement with them. You are not the counterparty.
The company signs an NDA and the licensing agreement directly with the data partner, not with Vetrix. We tell the company the data partner's name before anyone signs.
What to tell a client
Is this legal advice?
No. Vetrix is not a law firm. The advice is the opinion in your engagement letter.
Do you sign for us?
Only if a written authority already makes you an officer. A dissolution engagement, by itself, does not.
Can staff names be included?
No. Names, emails, phone numbers, and customer and staff details stay out of the copy.
If the company has already stopped operating, read sell data from a closed company. For a Delaware corporation, follow how to dissolve a Delaware corporation. Compare dissolution fees and final-pay rules by state before you advise on the last payroll.
Checklist
| Check |
|---|
| Confirm who has authority to bind the client. |
| Separate client data and former-parent data from the company's own records. |
| Keep personal details out of the copy. |
| Raise a license while the company can still sign. |
| Keep your engagement letter as the advice. A license is not that letter. |
When a different role fits
If you are an office-holder who may control assets, rather than a lawyer who advises, that is a different authority question. Lawyers advise. An office-holder still has to show who can sign. A job title is not that showing.
For the company's side of this, read sell data from a closed company.
If that is your job instead, read realizing data assets in insolvency.
If you are the accountant preparing the final return, read helping clients close a business.
For the wider job, read how to wind down a company. Other roles are under company data licensing for advisors.
Read how company data licensing works for the steps. For the four license terms, read the company data license agreement, in plain English.
For the wider legal question, read is it legal to sell company data to AI companies.
General information only. This is not legal, tax or financial advice.
Related
- For advisors
Company data licensing for founders, finance leaders, investors, and advisors.
- Winding down
Order of operations to wind down a company, from approval through taxes and dissolution.
- Insolvency practitioners
Authority questions for an office-holder before anyone signs.
- Already closed
Whether a closed company's records can still be licensed, and who may sign.
- How it works
The six steps from a short enquiry to payment, and how to stop.
- License terms
The four license terms: what you give, keep, agree, and sign.
- Is it legal?
What GDPR, US rules, and bankruptcy law say about licensing company data.
Questions about data licensing for wind-down lawyers
Does a data-license note replace advice on a client's dissolution?
No. Vetrix is not a law firm. A description of a data license is not an opinion on your client's dissolution. Your engagement letter is the advice. Use the license facts to name an asset and to list what stays out of a copy. You still decide authority, timing, and what to tell the board. General information is not a substitute for the opinion your client hired you to give.
Do I sign the license for the client?
Not unless you are an authorized signatory of the client, and you should not assume that you are. You review. The client company signs with the data partner. A lawyer's role in the dissolution does not place the lawyer's firm on the signature block. If your engagement includes signing as an officer, that authority should already be in writing. Otherwise the client's officer signs.
What personal data has to stay out of the copy?
Names, emails, phone numbers, and customer and staff details. Passwords and legal files stay out as well. Personal details are removed before anything leaves the company. Tell the client that list, and tell them they approve each system before anything is shared. A wind-down does not create an exception for a staff directory or a customer export. You can hold back any other system the client wants kept.
Should the license be raised before the company is dissolved?
Yes. Raise it while the company can still sign. Ask, in the jurisdiction you practice, when the company loses that ability. If you wait for the certificate, the people who can bind the company may already be gone. A closed company may still enquire, and that enquiry does not decide capacity. Your opinion on capacity is the one the client should rely on. Raise the records question early enough for that opinion to matter.
Sources
- Vetrix Labs. Vetrix Data Licensing.