Intellectual Property & Bankruptcy

What happens to a licensed intellectual property assest when a licensee files for bankruptcy? What are the implications in such a scenario of a clause in the license agreement prohibiting the licensee from assigning its rights under the agreement? For an interesting insight on this subject please see the following article by Theresa V. Brown-Edwards and Ryan M. Murphey of  Potter, Anderson, Corroon LLP.   

 

European Commission Blueprint On IP

The European Commission has set out its blueprint on Intellectual property rights (IPR). According to a Commission Press Release, …”technological change and, in particular, the growing importance of online activities, have completely changed the world in which IPR operate. The existing mix of European and national rules are no longer adapted and need to be modernised. That is why the Commission has adopted today a comprehensive strategy to revamp the legal framework in which IPR operate. Our objective is to enable inventors, creators, users and consumers to adapt to the new circumstances and to enhance new business opportunities. The new rules will strike the right balance between promoting creation and innovation, in part by ensuring reward and investment for creators and, on the other hand, promoting the widest possible access to goods and services protected by IPR. Getting this balance right will make a real difference to businesses (from the individual artist working alone to the big pharmaceutical companies) by encouraging investment in innovation. This will benefit the EU’s growth and competitiveness which is delivered through the single market. Consumers will benefit from wider and easier access to information and cultural content, for example online music. The strategy deals with many issues to ensure IPR are covered comprehensively – from the patent a business needs to protect an invention to tackling the misuse of such inventions via a proposal also adopted today which will strengthen action on counterfeiting and piracy. Among the first deliverables of this IPR overall strategy are today’s proposals for an easier licensing system for so-called “orphan works” that will allow many cultural works to be accessible online, and for a new regulation to reinforce customs actions in fighting trade of IPR infringing goods…”.

 

 

 

 

 

Digital Opportunity

A new report commissioned by the UK government proposes a clear change in the strategic direction of IP policy designed to ensure that the UK has an IP framework best suited to supporting innovation and promoting economic growth in the digital age.

The Review recommends:

  1. an efficient digital copyright licensing system.
  2. an approach to exceptions in copyright.
  3. a patent system capable of preventing heavy demand for patents.
  4. reliable and affordable advice for smaller companies.
  5. refreshed institutional governance of the UK’s IP system.

Digital Opportunity – A Review of Intellectual Property and Growth (Prof. Ian Hargreaves, May 2011).