This note sets out the top ten issues for boards of companies and businesses facing the challenge of the Covid-19 crisis. Companies may have other considerations but we hope that these will go some way towards addressing the key points to bear in mind in this crisis. As such, they represent a snapshot of the current state of the law and will need to be checked to reflect any changes that may come into effect.

Statutory duties

On October 28, 2011, the United States Bankruptcy Court for the Eastern District of Virginia issued an opinion with significant ramifications for any holder of a patent license that operates internationally.  At issue was an important protection afforded to patent licensees under the United States Bankruptcy Code, § 365(n), which limits a debtor's right to reject intellectual property licenses in bankruptcy and generally provides that, in the event of a rejection, the licensee may elect either to treat the license as terminated or retain its rights for the duration of the license.

On Oct. 28, 2011, the United States Bankruptcy Court for the Eastern District of Virginia issued an opinion with significant ramifications for any holder of a patent license that operates internationally. At issue was an important protection afforded to patent licensees under the United States Bankruptcy Code - § 365(n).