A business is a money making venture. A company is a tool for conducting your business. Tools are disposable when their usefulness has come to an end. Never fall in love with a tool.
Don’t confuse your business with your company. A business is valuable as long as it makes money. A company is valuable until it loses its usefulness. When it’s usefulness comes to an end, throw it away. Every operating company should be a disposable shell. If it becomes more than that, it severely limits your options. It becomes a lead weight dragging you down.
If your operating company has become a lead weight, spin off operations. Don’t expose your intellectual assets to lawsuits. A business lasts as long as it makes money. Companies last until their utility ends. Don’t confuse them. The best Corporate restructures keep your valuable assets out of your operating companies to protect them from lawsuits. Brand your business concept, not your companies.