Intellectual Property Law
Intellectual Property Law Questions? Ask a Lawyer
Hello and thank you for the opportunity to assist you. My name is ***** ***** I'll be glad to help if I can. Do you have any specific questions? I just want to make sure that I understand what legal information you are seeking. Thank you.
Yes, you can buy his customer list and software from the bankruptcy trustee. The trustee's job is to sell assets so that the proceeds can be used to repay the debtor's creditors. So, you would approach the trustee to inquire about purchasing those items. The trustee will likely first need to hire somebody to assess the value so that the bankruptcy estate is fairly compensated. But you can certainly make an offer at any time.
As for things to look out for, this would be no different than any other business transaction from your perspective, except that you would need to understand that the items you purchase would be "as is" since the trustee certainly would not provide any representations, guarantees, promises, warranties, etc. What you see is what you get. Further, you would not be able to go after the debtor for any future problems. Otherwise, it should be treated just as any other business deal.
Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied.
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