Closing your company? Deal with its data first

Why data belongs on your closure checklist

A closure checklist usually covers debts, tax, staff, bank accounts and physical assets. Digital records tend to get archived or deleted without a second thought. Yet a company with 30+ staff and a few years of history holds a detailed record of how its people made decisions, solved problems and served customers. That's what frontier AI labs need.

Closed and closing companies are already selling this data. Fast Company reported shuttered startups selling chat and email archives for $10K to $100K each. Fast Company, Apr 2026, checked Oct 23, 2026 (opens in a new tab) micro1 runs a separate program for companies that have stopped operating, with compensation of $100K to $2M+. micro1 referral partner portal, Opportunities (refer.micro1.ai/opportunities), checked Oct 24, 2026

For a solvent company, a license payment adds to what's left for shareholders once the debts are paid. For one that's short of cash, it may be what lets the company settle everything it owes and close cleanly.

When to ask for a quote

The process takes longer than most owners expect. Once terms are agreed, micro1 says a project takes two to three weeks, and payment follows in around 60 days. micro1 referral partner interview (YouTube), checked Oct 23, 2026 Add time to review the proposal and the contract, and allow around three months from registering to money in the bank.

1. Six months or more before you close

   The best time. Your data is intact, staff and customers are easy to reach, and you have time to compare the proposal, take advice and pick the closure route that suits the payment.

2. Three to four months before

   Still workable, but tight. In the UK, the license needs to be signed before the three months of inactivity that a strike-off requires.

3. After you stop trading

   Harder. Subscriptions get cancelled, data gets deleted and the people who know the systems have left.

4. After you apply to strike off or dissolve

   Usually too late for the directors. The application has to be withdrawn, or the company restored to the register, before anyone can sign.

Registering costs nothing, so there's no reason to wait until the closure plan is final. A quote tells you whether the data is worth building into it.

The UK order of events

Most solvent UK companies close in one of two ways. Each has a point after which the directors can no longer license anything.

After dissolution, anything the company still owned passes to the Crown as "bona vacantia" under section 1012 of the Companies Act 2006. Former directors can't license it unless the company is restored to the register first. That's slow and costly, so it's far easier to decide about the data beforehand.

Tax affects the choice of route too. Shareholder distributions in anticipation of a strike-off get capital treatment only up to £25,000 in total, under section 1030A of the Corporation Tax Act 2010. For larger amounts, accountants usually suggest an MVL. Ask yours how a license payment would be treated.

The US order of events

Closing a US company usually means filing articles of dissolution, or a certificate of dissolution, with the state where it's registered, then winding up: collecting what it's owed, paying creditors and selling assets before anything goes to owners. A data license fits naturally into winding up, but it's simpler to start the conversation before you file. The rules differ by state, so check with your attorney.

If the company can't pay its creditors in full, an assignment for the benefit of creditors or a bankruptcy puts asset sales in someone else's hands. My page on who can sign for a closed company covers those situations.

Four checks before you close

All of this sits on top of de-identification: real names replaced with consistent stand-ins before a frontier AI lab sees anything. My de-identification guide explains how that works and lists the questions to ask.

This is a general explanation, not legal or tax advice. I'm not a lawyer or an accountant. If the company can't pay its debts, directors must put creditors' interests first, so take advice before signing anything.

Common questions about company data and closure

What happens to company data when a company is dissolved?

In the UK, anything a company still owns when it's dissolved passes to the Crown as bona vacantia under section 1012 of the Companies Act 2006, including its rights in its records. Former directors can't license or sell it unless the company is restored to the register first.

Can I sell company assets before striking off?

Yes. Selling or disposing of assets is a normal part of closing a company. But a company can't apply for voluntary strike-off if it has traded or carried on business in the previous three months, so finish any sales or licenses first, then let three months pass before you apply.

Is company email and chat data a digital asset?

It can be. Frontier AI labs need real business records to train their models, and AI training data companies such as micro1 pay to license de-identified copies. Put the data on your closure checklist alongside equipment, stock and intellectual property.

How long does licensing company data take?

Allow around three months from registering to payment. micro1 says a project takes two to three weeks once terms are agreed, with payment in around 60 days, and you'll need time to review the proposal and contract.

Does a company have to be operating to license its data?

No. micro1 runs a separate program for companies that have stopped operating, for those with 30+ employees at their peak, with compensation of $100K to $2M+. Who can sign depends on the company's status, so check who can sign for a closed company.

Getting a figure before you decide

Registering costs nothing and doesn't commit you. The sooner you ask, the more options you keep. micro1 reviews the company and the data, then makes a proposal. If the company is still operating, apply to the main program. If it has already stopped operating, say so in the application.

I'm not employed by micro1. If a company signs up through my introduction, micro1 may pay me a referral fee. It costs you nothing and doesn't change your terms.