this post was submitted on 07 Jun 2024
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Privacy
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Can they sink the IA name and just set up as another entity? I mean, declare bankruptcy etc. What happens to the archived data in this scenario? I am not a lawyer so I have no idea
Edit perhaps they can setup up an entity, sell the data to it, and bankrupt IA?
Surely not or else companies would be doing this every day to avoid litigation.
The mercenary company Blackgate(?) has done it a dozen times.
Again, I have no idea what I am talking about but you can have provisions to protect assets in bankruptcy. But besides that, I am not sure if distributing the assets to another nonprofit entity prior would help save the archived data
https://www.wolterskluwer.com/en/expert-insights/dissolving-a-nonprofit-when-and-how-to-dissolve-a-nonprofit
I mean, companies with a lot of employees, sure. But companies that are mostly just data, like movie watching sites, do it all the time