Jan. 7 at 4:21 PM
$EBET Defunct companies often become secretive because they're dissolving, protecting valuable intellectual property (IP) or trade secrets from competitors, managing liabilities, or simply ceasing operations, leading to reduced public disclosure as records are archived, sold off, or buried in bankruptcy proceedings, all to control narrative, extract final value, or avoid scrutiny after failure.
Here's a breakdown of reasons for their secrecy:
Asset Liquidation & IP Protection: When companies fail, their assets (like brands, patents, technology) become valuable commodities, often sold to "asset-light" firms (like Authentic Brands Group) that license them out, requiring secrecy to protect the IP's value from free-riders and competitors.
Bankruptcy & Legal Processes: In bankruptcy, information becomes part of complex legal processes (like Chapter 11), with disclosures often limited to what's required for creditors, not public consumption.
