At what point after a business closes does its product line become public domain? If a software company goes out of business--not just bought out, but shuts down entirely--and its product line is no longer supported, does not that product line become public domain? If no one is around to exercise copywrite or license, then is not that license invalid?
I understand if one company is bought by another, their product line is usually included in the deal and licenses transfer to the new company, unless it is otherwise specified in the language of the contract.
I know that almost all software written for the Apple II, for example, is now in the public domain and available for download for free. So, should not programs written by a company like IOBOX, who ceased to exist in 2004, also be public domain?
Or, just for discussions sake, do the rights transfer back to the original individual programmer?

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Dave
Tech Trainer
A BIIIIG cable company