Copyright

• A copyright is an intellectual property right. A copyright is valuable because an owner has the exclusive right to limit its use by others. An owner can earn royalties from copyrights.
  
  

Assets

• In bankruptcy, the debtor must disclose all assets. Assets include property the debtor owns but does not possess, property the debtor owns and possesses, property recently given away, property the debtor has a right to receive but does not yet possess, and certain types of property received 180 days after filing for bankruptcy.
  
  

Chapter 7

• In Chapter 7, a bankruptcy trustee can take a debtor's valuable property and sell it to pay creditors with the proceeds. A bankruptcy trustee may choose to liquidate a debtor's copyright assets.
  
  

Chapter 13

• In Chapter 13, a debtor is able to keep valuable property but must repay creditors in a court-approved payment plan. Like other valuable assets, the debtor can keep copyright assets.