It is always sold to another company. If a company is “destroyed” - eg, they must declare bankruptcy - then their assets will be sold off to pay back their debts. IP counts as an asset, so it would be sold to another company. It would not simply enter the public domain.
Meanwhile, you probably don’t want to kill all companies. Your friendly neighborhood taco truck is, after all, a company.
Well, we need to figure out how to kill companies first. They own the copyright in the situations you would care about.
So, it kind of already works that way. If the company dies, no one is gonna come after you. Unless it was sold of to another company, that is.
It is always sold to another company. If a company is “destroyed” - eg, they must declare bankruptcy - then their assets will be sold off to pay back their debts. IP counts as an asset, so it would be sold to another company. It would not simply enter the public domain.
Meanwhile, you probably don’t want to kill all companies. Your friendly neighborhood taco truck is, after all, a company.