I find it hard to believe that it’s legal to buy a company, but not it’s contractual obligations. Seems line a hell of a loophole for getting out of things you don’t want to do.
You can go to a company and ask to buy their office building. Or the name trademark. Or staff. Or customer database. Or website. And you continue this until you’ve acquired literally everything the company has except the actual company itself - it’s called an “asset acquisition” - so you get all the stuff, but because the original company technically still exists it’s left with most of the liabilities.
Most, because some liabilities thankfully do transfer.
In this instance:
According to VPNSecure’s owners, their acquisition netted them “the tech, the brand, and the infrastructure/technology—but none of the company, contracts, payments, or obligations from the previous owners.”
…how you can claim not to have gotten the contracts, yet be in a position to cancel them sound a bit of a, well, lie.
They claim they didn’t bought the contractual obligations, so to be fair they should cancel all subscription and not just the lifetime subscriptions. But obviously it’s just a bullshit claim by some corpo…
Contracts always have some bullshit like: “We can do whatever the fuck we want. Service not guaranteed. We have the right to refuse service to anyone. Lifetime is defined by the lifetime of the service which is defined by us. Can change at anytime.”
I find it hard to believe that it’s legal to buy a company, but not it’s contractual obligations. Seems line a hell of a loophole for getting out of things you don’t want to do.
Yet it is.
You can go to a company and ask to buy their office building. Or the name trademark. Or staff. Or customer database. Or website. And you continue this until you’ve acquired literally everything the company has except the actual company itself - it’s called an “asset acquisition” - so you get all the stuff, but because the original company technically still exists it’s left with most of the liabilities.
Most, because some liabilities thankfully do transfer.
In this instance:
…how you can claim not to have gotten the contracts, yet be in a position to cancel them sound a bit of a, well, lie.
They claim they didn’t bought the contractual obligations, so to be fair they should cancel all subscription and not just the lifetime subscriptions. But obviously it’s just a bullshit claim by some corpo…
If the customers came across in the transaction, so did the contractual obligations. You can’t have it both ways.
Capitalism at work baby
Probably legal (for the buying company) but customers should sue the original company and get paid out of the money used to buy it.
No you probably sue them both.
This would almost certainly depend on the contracts themselves.
Contracts always have some bullshit like: “We can do whatever the fuck we want. Service not guaranteed. We have the right to refuse service to anyone. Lifetime is defined by the lifetime of the service which is defined by us. Can change at anytime.”