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I bought a website already up and running one, is that considered my intellectual property. And if so what happens when the company who sells the website business to me says I can't move it to another hosting site? What are my legal options,...
You already have most of the answers and we would all have many questions to ask before any further analysis is possible, but I would like to expand on a point made earlier. When a website is developed for someone, there are many components that come into play. First, the developer typically uses publicly available templates, tools and open source software. For example, it is not uncommon to see a site using open source (free) server software and content management (CMS) software. You won't have any rights to that, except (hopefully) for the right to use those components.
Even if you have an agreement with a developer, unless there are very specific assignment rights AND the developer had the right to assign the property, you only have a license to use the intellectual property associated with the site.
If you ever sell, be very careful not to make any representations about title, etc.
Good luck, MichaelSee question