We own the name, what we don't own is the records, players, etc..
However, if we really wanted to we could acquire all the records and stuff like that. I think it would be a nice gesture to acquire the records and stuff that were exclusive to Charlotte, i.e.: Mugsy, LJ, Zo, attendance records, playoff appearances etc.
Teeray stated in another post that he read that New Orleans and Charlotte would be able to share the Hornets history. I am not sure of his source but maybe he can relay bthe source to confirm.