Liquidating Business Property And Assets: How Liquidating Virtual Property Helps

When you have decided to hang up your business's permanent "Closed" sign, you need to liquidate everything first. Regardless of the equipment and property you have, you should try to sell it all. This includes "virtual property," the type of property you have online and inside the computing world. Here are the whys and hows of liquidating virtual property and how it can boost your final bottom line.

Types of Virtual Property You Should Sell

There are a few main types of virtual property you should sell. One is your company's website and/or domain name. Another company that wants to use it or use something similar and has not been able to because you already own it would be interested in buying it and using it or buying and modifying it for their use. Another type of virtual property is the IP address, or addresses, that your company owns. These are actually quite valuable to most of the virtual world and can be used and reused by just about anybody. 

Why You Should Sell Your Virtual Property

Your virtual property is essentially yours until you decide to quit paying for it or you just drop it and walk away. Rather than just drop it or let it go, you could profit from selling your virtual property. Additionally, if you are filing for bankruptcy and attempting to liquidate business assets, your virtual property may be listed under "assets" in your state, since it can be sold for a profit and the proceeds used to pay debts.

How to Sell It 

There are companies that will either buy back the virtual property you purchased from them or buy the virtual property you want to sell. For example, if you want to sell IP address blocks, you could easily sell those to any larger business or corporation that needs extra IP addresses for security purposes. You could also sell your IP address blocks to an IP address broker, who could in turn sell the blocks for you and give you a cut of the profits. Domain names and website addresses you can almost always sell back to the company you bought them from, or sell them to other companies who want to use the same or similar addresses.

How It Helps to Liquidate Virtual Property

Liquidating your virtual property can bring in hundreds of dollars, sometimes thousands (if you have a big IP address block to sell or a domain name and website address that somebody is desperate to buy). Several hundred dollars more than you would have had just selling physical property and equipment is worth the effort alone. If you make an extra thousand or two selling your virtual property, that could make all the difference between just shy of half a million and just over half a million dollars (i.e., as an example, of course--it depends on the size of business you are liquidating).

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