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Shutdown and startup data
6 short answers on Shutdown and startup data. Each one is checked against primary sources and written in plain words.
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What happens if I close my business and walk away?
If you want to close your business and walk away, file the dissolution first. An abandoned company keeps owing state fees and taxes until the state dissolves it, and unpaid payroll tax can follow you personally under IRC 6672.
Should you license company data before you sell the business?
Only with your acquirer in the loop. A data license is a contract the acquirer inherits or has to unwind, so it shows up in the LOI, in diligence and in your reps and warranties.
What to do with company records when you close
When you close a company, keep what federal rules require: employment tax records 4 years, FLSA payroll records 3, hiring records 1, OSHA logs 5, and I-9s 3 years from hire or 1 after the job ends. Past those, delete, or license first if your contracts allow it.
AI labs buying startup archives: who, why, how much
AI labs buy startup archives to train agents on real workplace records. SimpleClosure processed nearly 100 deals in a year at $10,000 to $100,000 per company, and Mercor made offers up to $300,000.
Startup wind down service: SimpleClosure, Sunset
A startup wind down service handles legal filings, payroll tax closures and stakeholder coordination. SimpleClosure runs these and added an Asset Hub on 16 Apr 2026 to sell source code and workspace data.
License data in acquisition: AI buyers and diligence
List the data among the business assets. California's merger exception covers transfers where the buyer takes control of the business.
Could your company's data be licensed?
Answer a few questions about the systems you run and the records you hold. You get a readiness result and a plain list of what to check next. You never upload data.
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