The purpose of this final paper is to explore and to explain what exactly the term termination of companies with a particular focus on limited liability companies defines, since that is the most common form of a company in the Republic of Croatia. Firstly, in order to understand the reason that leads to this, at the very beginning we tried to explain general terms and definitions typical when it comes to companies. Same as everything else, companies have their own beginnings and endings, some of them last longer than the others, and their duration usually depends upon their members, will, ability and commitment. In order to protect everyone involved in the work of companies, especially when the facts that lead to their termination occur, the legislator prescribes the reasons, ways and procedures in what way they should be implemented. The paper is most concentrated on the ways of termination of a limited liability company, as the title of the paper indicates, and on the liquidation and bankruptcy proceedings that are initiated when some of the reasons for the termination of a limited liability company arise. The procedure for the termination of a limited liability company when the reasons for termination arise are explained in detail: in the case of expiry of the time specified in the social contract, if the company was founded for a fixed time, then by a decision of the members, in case a final decision of the registration court was passed. for the purpose of merging a company with another company and merging with another company, the decision of the bankruptcy council to open and conclude bankruptcy proceedings, to open bankruptcy proceedings, to terminate the company, to determine the company's nullity, and the reasons determined by the social contract.