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Code · BILL · 113th Congress · S. 1720 (Introduced in Senate) — To promote transparency in patent ownership and make other improvements to the patent system, and for other purposes. · Sec. 8

Sec. 8. Protection of intellectual-property licenses in bankruptcy

256 words·~1 min read·/bill/113/s/1720/is/section-8·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 1520(a) of title 11, United States Code, is amended— in paragraph (3), by striking ; and and inserting a semicolon; in paragraph (4), by striking the period at the end and inserting ; and ; and by inserting at the end the following new paragraph: section 365(n) applies to intellectual property of which the debtor is a licensor or which the debtor has transferred. . Section 101(35A) of title 11, United States Code, is amended— in subparagraph (E), by striking or ; in subparagraph (F), by striking title 17; and inserting title 17; or ; and by adding after subparagraph
(F)the following new subparagraph:
(G)trademark, service mark, or trade name, as defined in . section 1127 of title 15; Section 365(n)(2) of title 11, United States Code, is amended— in subparagraph (B)— by striking royalty payments and inserting royalty or other payments ; and by striking and where it appears after the semicolon; in subparagraph (C), by striking the period and inserting ; and ; and by adding at the end the following new subparagraph: in the case of a trademark, service mark, or trade name, the trustee shall not be relieved of a contractual obligation to monitor and control the quality of a licensed product or service. . The amendments made by this section shall take effect on the date of the enactment of this Act and shall apply to any case that is pending on, or for which a petition or complaint is filed on or after, such date of enactment.
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