If a company owns a patent then what happens to the patent if the company goes bankrupt?

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A patent is treated as an item of property just like any other. So when a company goes bankrupt, it is up to the receivers/liquidators to sell off all assets, like buildings, cars, patents; belonging to the bankrupt company. If the patent is not sold in this way then it defaults to the state (in the UK at least). In most countries annual renewal fees are payable for patents (although they are less frequent in the US) so it's important to maintain these otherwise the patent will expire and be of no value.
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