Increasingly, entities are accumulating Internet assets. These assets include websites, web logs (blogs), Internet stores, social media connections, Internet applications, content, domain names and crypto currency (such as bitcoin) to name a few. Since many Internet assets are intangible, licenses for such assets are a noteworthy type of contract that has not yet been fully performed. Both licensors and licensees are well advised to know what can happen to Internet asset licenses when a bankruptcy is filed.
Businesses and service providers, by and large, have Internet sites and blogs. In order to secure sites and blogs, entities must acquire various Internet assets including domain name, Internet hosting agreement and content acquisition and management system. These intangible assets are normally memorialized by contracts and transferred by licensing agreements.
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