Legal Question in Technology Law in Maryland

Purchasing failed internet business.

I am interested in purchasing an internet business that has filed for Chapter 7. I would like the Domain name and continue the business but using our company as operators. Is there any adverse ramifications of this action? Can creditors from the previous company sue us? How do I terminate their contract with Internic for the Domain name? Is there a way of finding out who their customer base was? Is there any hidden problems doing this? Thank you.


Asked on 11/13/03, 8:42 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Purchasing failed internet business.

You (or your counsel) need to contact the Chapter 7 trustee and work out a deal to buy the assets, which can include customer lists, etc. If you do it right, you should not be liable for the old company's debts. The trustee should be able to assume and assign to you the domain name agreement, but you will have to pay the new registration fee. We often handle this type of transaction. Let me know if we can assist.

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Answered on 11/13/03, 9:39 am


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