To this end, the employees, board of directors, location, equipment, and even product name may remain the same or change only slightly at the moment of succession.
[1] The major advantage is saving the money for the initial ramp-up (employee training, equipment purchase, marketing, etc.).
In general, the successor is not responsible for the liabilities of the predecessor, unless the consent was given to this, or a court decided that the succession was not "clean hands"; e.g., the successor was de facto the same company, of the succession transfer was an instrument to avoid liabilities.
In order to conclude whether a corporation is a legal successor of previous businesses, connections between them must be analyzed.
Other contributing indicators include same trade, same workforce, similar company and product names, and substantial asset transfer between successors and predecessors.