Have you completely misunderstood the concept here? This isn't some IP virus that infects anyone that touches it. J&J keeps the IP that it owns, in all cases, obviously. The bankrupt company must release the IP that the bankrupt company owns, unless someone like J&J wants to acquire it and keep things running. Obviously a company that fails wouldn't destroy the IP of another company. Obviously the failed company only impacts the failed company IP. I think you may be trying too hard to find flaws in this idea, instead of trying to make it work.