18 Jul, 2024
2 mins read

The Cause of the Bankruptcy

If a company has two outstanding debts, the company has met the requirements for bankruptcy. Some companies that go bankrupt are usually caused by:

  1. Not able to capture every consumer need.
  2. Too focused on developing a product.
  3. Having excessive fear. Having a fear of bankruptcy, loss and others is indeed a natural thing. However, do not let this fear become excessive so that it does not focus on serving consumer needs. In fact, this condition must be watched out for because it will hinder the company’s performance which can have a devastating effect.
  4. Stop to innovate. No matter how great a company is, if it does not innovate it will cause the company to lose the competition and be left behind.
  5. Lack of sensitivity or not observing competitors’ movements.
  6. The price is too expensive.
  7. Having a debt liability which is the main cause of bankruptcy of a company. Sometimes companies are too brave to take risks by taking on debt that is too high, regardless of how to return it. This is what makes the company go bankrupt.

Why do companies need to hook up with lawyers and legal consultants?

Advocates are people whose profession is to provide legal services, both inside and outside the court. In society, a lawyer is often called a lawyer or legal consultant.

The duties of a lawyer / advocate, in principle, are to provide legal assistance, defend and protect the client’s legal rights and interests in accordance with the prevailing laws and regulations.

Legal services provided by Advocates are in the form of providing legal advice, legal assistance, exercising power, representing, accompanying, defending, and taking other legal actions for the client’s legal interests.

Does your company need an Advocate and Legal Consultant? Need.

Nothing is beyond the law in this country, including business activities by companies and individuals. For example, cooperation agreements (contracts) with business partners, company establishment, licensing, trademarks, patents, copyrights, mergers, acquisitions, work agreements with employees, bankruptcy and so on. It is all regulated by law. This means that all these activities must comply with and comply with applicable laws. Oklahoma bankruptcy attorney can help you more.

If it is not in accordance with the law, then be prepared for your company to face lawsuits or lawsuits from third parties (for example the public, employees, business partners or even the government).

And if a problem occurs, it will disrupt the company’s business activities, destroy the company’s reputation and good name, and other things that lead to the company’s economic loss.…