SimpleClosure Asset Hub: what it takes, how it earns, what to check

Type

Shutdown service. Winds companies down and licenses or sells their data, and takes operating companies too.

Legal entity

SimpleClosure

Data it wants

Source code, and workspace data such as email, Slack, Notion and documents (workspace data was in beta at launch).

Its AssetHub page says companies that are still operating can license while they keep using the assets.

Who it takes

No staff minimum stated. Its AssetHub page says you do not need to be shutting down, and operating companies can explore licensing.

Not stated.

How it earns

Its AssetHub page says there is no upfront cost and SimpleClosure takes a percentage only when assets are sold or licensed.

The percentage is not published. Its terms refer to a separate asset purchase agreement.

Process

1. The founder lists assets.

2. Its AssetHub page says every dataset is processed for PII before it is licensed to a buyer.

   Its terms say only that its evaluation may include an assessment of embedded personal information.

3. Transfer to buyers, described as AI companies, research labs and enterprise teams.
4. Separate asset purchase terms govern price and fees.

Payout claims

• Nearly 100 deals in about a year at $10,000 to $100,000 per company, as SimpleClosure told Forbes, and Gizmodo relayed it.
• More than 350 companies have listed assets on the hub since April.
• Deals in the tens to hundreds of thousands of dollars for unique assets, including assets from companies still operating, per its AssetHub page.

Public figure, see sourceSelf-reported by the company unless marked reported.

Security claims

• No certification published on the pages we read.
• Its AssetHub page says every dataset is processed for PII before it is licensed to a buyer. Its terms make no such promise.

De-identification and privacy

Its AssetHub page says every dataset is processed for PII before licensing, and that sensitive employee, compensation and health information is excluded.

Its terms say only that its evaluation may include an assessment of embedded personal information.

No method or standard is named. Privacy advocates dispute that anonymization of workplace messages works, and Gizmodo reported that a policy group, the Center for AI and Digital Policy, wrote to the US Senate Commerce Committee urging stronger FTC oversight of AI companies.

Terms for companies

• License or ownership. The company grants SimpleClosure a non-exclusive, transferable, sub-licensable, royalty-free, perpetual, irrevocable, worldwide license.

  After an acquisition, title vests in the acquirer, who may license or sell onward.

• Your warranties. Six company representations: ownership and authority, no infringement, privacy-law compliance (CCPA, CPRA, GDPR) with required notices and consents, no liens, open-source use disclosed, and known issues disclosed in writing.
• Your indemnity and audit. The company indemnifies SimpleClosure for breach of the representations, IP claims, privacy-law violations and undisclosed open-source obligations.
• Liability cap. SimpleClosure's own liability is capped at the greater of six months of amounts paid or $100.
• Governing law. Delaware law, with exclusive jurisdiction in Los Angeles County, California courts.

Our guides go further: how SimpleClosure uses your company data.

Check before you share anything

These are facts from the company's own pages or from news and court reports, listed so you can ask about them. They are not verdicts. Companies change their terms, so confirm each one on the company's own page.

• The percentage it takes on a sale or license is not published.
• The company carries a broad warranty and indemnity stack while SimpleClosure's own liability cap is $100.
• The PII promise is on its AssetHub page, not in its terms, and the terms put privacy-law compliance on the company.
• Deletion terms are not published, and the license is perpetual and irrevocable.
• Deal counts and price ranges are the company's own, relayed by press.

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The logo identifies SimpleClosure Asset Hub. SimpleClosure Asset Hub does not endorse Vaultfish.

Not sure whether your data can be licensed at all? Read the risk map before you fill in any intake form.