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You are a trademark licensee, and your licensor suddenly declares bankruptcy. Then, to make matters worse, the bankruptcy trustee rejects your licensing agreement. What does this mean for you? Although intellectual...more
Intellectual property (“IP”) can act as collateral to be pledged to secure an extension of credit. For example, a company that borrows money from a bank can pledge its patents as collateral for the loan. The bank (referred...more
Pursuant to 11 U.S.C. § 365, a debtor or bankruptcy trustee has the option, subject to court approval, of electing one of the following three alternatives with respect to an executory contract: (a) assuming the contract, (b)...more
A district court decision declaring that the character of Sherlock Holmes is copyright-free was affirmed by the U.S. Court of Appeals for the Seventh Circuit in a unanimous decision written by Circuit Judge Richard Posner....more
As 2012 winds down and we all recover from what I’m sure was a wonderful Festivus celebration (I know I’m still feeling the effects of a particularly bloody Feats of Strength and an overly ambitious Airing of Grievances...more
Most have probably heard today’s news that Hostess Brands is going out of business. This is sad news on many fronts, the most significant of which is the loss of livelihood for some 18,000 individuals....more
Originally published in the October 2012 issue of The Bankruptcy Strategist.
Much has been written over the past 20-plus years, in court decisions and scholarly articles, about the omission of “trademarks” from the...more
The U.S. Bankruptcy Code generally limits a Chapter 11 debtor-licensor’s ability to reject intellectual property licenses, but trademark licenses are not subject to such limitations. Trademark license agreements that are...more
Licensees of intellectual property, especially trademarks, may breathe easier thanks to a Circuit-splitting decision authored by the Seventh Circuit Court of Appeals earlier this month. In Sunbeam Products, Inc. v. Chicago...more
In reaction to a decision by the U.S. Court of Appeals for the Fourth Circuit, Lubrizol Enterprises, Inc. v. Richmond Metal Finishers, Inc., 756 F.2d 1043 (4th Cir. 1985), in which the court held that a licensee of patents,...more
In the last two weeks, the 6th Circuit and 7th Circuit Court of Appeals each issued decisions on important intellectual property issues in bankruptcy.
In the first decision, the 6th Circuit held that bankruptcy's...more
On July 9, 2012, the United States Court of Appeals for the Seventh Circuit significantly strengthened the potential ability of licensees to trademarks, international intellectual property, and other rights to continue to...more
On July 9, 2012, the United States Court of Appeals for the Seventh Circuit issued a decision in Sunbeam Products, Inc. v. Chicago American Mfg., LLC (No. 11-3920), a case that addresses the effect of a bankruptcy trustee's...more
In This Issue:
- Brinker: Meal and Rest Periods Clarified, But...
- Dodd-Frank and Bankruptcy Law
- New Faces: Points from the President
- Celebrity Brands: To Wed or Not to Wed?
- How Safe is your...more
There’s been a lot of ink spilled on Duets Blog about the long saga of the Tavern on the Green, here, here and here. The last we heard, back in March of 2010, was that a judge had ordered the cancellation of the trademark...more
This two-part article provides an overview of the main issues faced and decisions to be made by a trademark licensor whose licensee has filed for bankruptcy in the U.S. It covers the following four scenarios: (i) if the...more
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