Drafting to Protect Your IP Rights in Licensor’s Bankruptcy
In the day-to-day operations of a company, the distinction between owned IP rights and in-licensed IP rights can easily get lost. But what happens if a licensor files for bankruptcy? Will an in-license protect the licensor’s right to continue to use the IP rights? Jason M. Rodriguez and Jessica M. Pelliciotta, associates with Morgan Lewis, discuss those issues in an article published by The National Law Review.
In the article, they lists contract drafting points that can help protect the licensee’s IP rights in the event of a licensor’s bankruptcy.
They also offer a sample provision to use in drafting.