What can I assume is copyrighted and in the event I pay and assume copyright?

The copyright notice most likely refers to the website itself and not previously copyrighted elements within the website, such as games, artwork, sound tracks, etc. Check with the seller to see what you are actually purchasing and what rights attach to that purchase.

I'm not entirely clear on your question. Are you suggesting that you may purchase the MMORPG business or company? If so, you need to hire a professional to go over the sales contract with you and perform due diligence to make sure everything was properly valued. If you are buying an player account with the MMORPG, you do not "assume" the copyright. Look to your license as a player with the MMORPG. You cannot, for example, take the MMORPG's graphics and use them in a competing game. For a better answer, please clarify your question.

I am not sure what is meant by "pay and assume copyright" but you can only gain rights in copyright by written agreement by the other party to give you those rights and only to the degree that they have agreed to give you those rights. Merely signing up for a MMORPG and playing as a customer does not generally give you any copyright rights that are held by the owners of the game except the rights needed to play the game. Setting up a competing game that uses their protected material would generally subject you to liability without further permission. You can obtain that permission by either buying their company and all the rights it owns or by licensing those rights from the company.

For others reading, a MMORPG is a massively multiplayer online role playing game. I am trying to understand your question. If you are hoping to set up an alternate and competing online game, you would not likely be using the copyrighted material from a different already existing game. Your game would have its own concept, its own characters, its own features. It sounds as if someone is making you an offer where you would purchase an existing set of copyrighted material. If that is the case, then you would not likely be creating an alternate and competing game, but continuing on with the same game. Sometimes people DO buy out a company or product that they think of as a competitor, simply so that it is no longer competing with them. However, in the world of online role playing games, most games come in and out of fashion, and once it is a bit old, it is not really competing in the market. People may go back to an old game for nostalgia, but the technical improvements in newer games draw the most users. If you wish to start a game company, please be aware it is an expensive and complex undertaking. You must have computer programmers who know how to write games. You also must know the game market. You also need great art and great ideas. The best studios have dedicated motion graphics studios. And any game that is Massively Multiplayer needs to have great servers so that many users around the world can simultaneously play the game. In short, before you buy anything, consider carefully and consult with a lawyer and other business people. DO NOT make any such purchase without consulting a lawyer.