United States:
Rejection Of A Trademark License Is Not A Termination Of That License
18 July 2019
Pryor Cashman LLP
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Recently, the Supreme Court in Mission Product Holdings,
Inc. v Tempnology, LLC resolved what the International
Trademark Association called "the most significant unresolved
legal issue in trademark licensing" when it found that a
trademark licensing agreement rejected under the Bankruptcy Code is
a breach, and not an outright revocation, of the agreement. In so
ruling, the Court held that the licensee of a rejected contract can
continue to use the mark post-rejection.
In their article for International Corporate Rescue,Seth Lieberman, co-head of Pryor
Cashman's Bankruptcy, Reorganization + Creditors' Rights
Group, and Patrick Sibley examine the Court's
decision and what it means for bankruptcy trademark licensors and
licensees going forward.
Read the full article here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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