Wind Up Legal Meaning and Definition

Here is a simplified definition of the legal term Wind Up.

Wind Up (verb)

"Wind up" is a phrase meaning to finish or stop something. It is often used when talking about businesses or groups of people. For example, if a company is no longer making money, they might have to "wind up" their company. This means they stop all activities, sell the things they own, pay their bills, and share what's left among the owners.