A company is established by its registration with the court register of the competent commercial court, and it is dissolved when erased from the same court registry. In certain cases anticipated by the law a company can make a decision en the dissolution of the company. In this case a liquidation procedure is carried out within the company, and certain decisions made during the liquidation are entered in the court registry of the commercial court in which the company is registered. This paper provides a conceptualization of companies, that is, it provides a conceptual definition and description of their basic characteristics. The paper deals with the concept of liquidation as the one of the possible ways to dissolve a company. The main thesis of the paper is a regular liquidation of companies performed based on a decisions taken by their own Assemblies. The paper also elaborates on the basic characteristics of both the Iiquidation ex officio and the compulsory liquidation. Since the bankruptcy proceedings are the other way to dissolve a company, the paper also outlines the basic differences between the bankruptcy and liquidation. The paper deal s with the liquidation procedure and the role of the liquidator in this procedure, as well as the role of the court registry if a reason fer the dissolution of a company appears, having in mind that this type of liquidation is net a court proceedings but it is carried out by the company itself. The paper also examines possibilities for the suspension of liquidation procedure and the continuation of the company although the decision en its dissolution has been taken. In practice, there are concrete examples of the suspension of a liquidation procedure and continued operation of a limited liability companies which can be seen from the data entered in the court register.