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Okt 15, 2012
John C. Paul, Finnegan, Henderson, Farabow, Garett & Dummer LLP, USA
D. Brian Kacedon, Finnegan, Henderson, Farabow, Garett & Dummer LLP, USA
First published on www.lexology.com

Seventh Circuit holds that a trademark licensee is perm...


John C. Paul, Finnegan, Henderson, Farabow, Garett & Dummer LLP, USA, D. Brian Kacedon, Finnegan, Henderson, Farabow, Garett & Dummer LLP, USA, First published on www.lexology.comAn issue of potential concern for any licensee of intellectual property is the possibility of losing that license if its licensor files for bankruptcy protection. For a bankrupt licensor, its intellectual property may be a significant asset that could be sold or otherwise licensed as part of a dissolution or restructuring. But any license on such intellectual property essentially acts as an encumberance on that property that may reduce the value of the asset to a potential purchaser. Moreover, the bankruptcy laws do permit entities to "reject" or terminate contracts under certain circumstances as part of the bankruptcy process. Therefore, a licensee might be rightly concerned about a potential for loss of its license rights if its licensor enters bankruptcy.
In 1985, the Court of Appeals for the Fourth Circuit held, in Lubrizol Enterprises, Inc. v. Richmond Metal Finishers, Inc., 756 F.2d 1043 (4th Cir. 1985), that a licensee can lose  read more