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Involuntary Bankruptcy - What's Next?
In the standard contracts and creatove firms, there's a statement about the ip does not transfer until we've been paid in full. This doesn't happen as much now, but ten years ago, part of what you did for the client was to build a web presence. So if three or more vendors together, these have to be unsecured vendors, are to her owed ten thousand dollars or more. At least three of you can get together and force an involuntary bankruptcy. Now, it's not going to happen, because they're just going to pay you off. That's so much easier than dealing with an involuntary bankruptment. It's a really interesting element of corporate law that not