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Assigning your rights away – changes to the Insolvency Act 1986

TECHNICAL UPDATE - APRIL 2015

The Small Business, Enterprise and Employment Act 2015 (“the Act”), which received Royal Assent on 26 March 2015, contains a number of changes and additions to the Insolvency Act 1986 (“IA 1986”). 

A summary of the changes, as they relate to insolvency proceedings, are highlighted below but for full details as to the newest additions to the IA 1986, please see s117 to s146 of the Act which can be located at:

United Kingdom, Insolvency & Restructuring, Charles Russell Speechlys, Insolvency Act 1986 (UK)
U.S. bankruptcy laws may prevent a patent licensor from using foreign bankruptcy proceedings to cancel patent cross-licenses and impose new royalty-bearing licenses

First published in LES Insights

USA, Insolvency & Restructuring, Litigation, Patents, Finnegan, Henderson, Farabow, Garrett & Dunner, LLP, Bankruptcy, United States bankruptcy court
Seventh Circuit holds that a trademark licensee is permitted to continue using licensed marks despite bankruptcy rejection of the license agreement

An 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.

USA, Insolvency & Restructuring, Litigation, Trademarks, Finnegan, Henderson, Farabow, Garrett & Dunner, LLP, Bankruptcy, Seventh Circuit