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https://www.thebrandprotectionblog.com/covid-19-major-risk-flowing-from-non-exclusive-ip-licenses-under-german-insolvency-law/

COVID-19: Major risk flowing from non-exclusive IP licenses under German insolvency law

2020-09-01 09:46:29, , The Brand Protection Blog

Content Categorization
/Law & Government/Legal/Bankruptcy

Word Count:
513

Words/Sentence:
29

Reading Time:
5.13 min

Reading Quality:
Advanced

Readability:
16th or higher

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Therefore, it is preferable to address the insolvency risks when the initial license agreement is negotiated.

In view of the potential impact of German insolvency law, the parties of non-exclusive license agreements are encouraged to review the terms of their licenses.

Particularly in the unprecedented, uncertain times of the COVID-19 pandemic, it would be advisable to explore what can be done to mitigate any potential insolvency risks, even if imminent issues may not yet be apparent.

Where a party to an IP license becomes insolvent and regular insolvency proceedings are commenced, an insolvency administrator will take over the management of the business.

German insolvency law confers on the administrator (or the self-administrating debtor) a choice as to whether to affirm or terminate a non-exclusive license agreement.

License agreements generally include continuing and recurring obligations for each party, most notably, ongoing license payments and the continued grant of the right to use the respective IP rights.

There are legal means which may help to reduce risks associated with an insolvency of a party to the license agreement; however, it is important that the parties take such measures before the threat of insolvency arises.

Link to full article: https://www.nortonrosefulbright.com/en-de/knowledge/publications/88a29bb1/covid-19-major-risk-flowing-from-nonexclusive-patent-licenses-under-german-insolvency-law

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