Definition(s):
In the financial domain, the term “bankruptcy” is associated with the inability to pay debts. So, it refers to the financial status of a company that has been legally judged either to have debts that exceed assets or to be unable to pay it is billed. In the technical debt context, the term bankruptcy may be associated with the difficulty and costs to maintain and evolve a software product caused by existing technical debt items, which can be equal to or greater than new software products.
Source(s):
- Tom, Edith, Aybuke Aurum, and Richard Vidgen. “A consolidated understanding of technical debt.” Proceedings of the 20th European Conference on Information Systems (ECIS’12), AIS Electronic Library, Barcelona, Spain (2012).
- Tom, Edith, AybüKe Aurum, and Richard Vidgen. “An exploration of technical debt.” J. Syst. Softw., 86.6 (2013), pp. 1498-1516.
- Ampatzoglou, Areti, et al. “The financial aspect of managing technical debt: A systematic literature review.” Inform. Softw. Technol., 64 (2015), pp. 52-73.
- Cambridge Dictionary. Avaible at: https://dictionary.cambridge.org/dictionary/english/bankruptcy.