Sec. 11. Protection of intellectual property licenses in bankruptcy
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Section 1522 of title 11, United States Code, is amended by adding at the end the following: Section 365(n) shall apply to cases under this chapter. If the foreign representative rejects or repudiates a contract under which the debtor is a licensor of intellectual property, the licensee under such contract shall be entitled to make the election and exercise the rights described in section 365(n). . Section 101(35A) of title 11, United States Code, is amended— in subparagraph (E), by striking or ; in subparagraph (F), by adding or at the end; and by adding after subparagraph
(F)the following new subparagraph: a trademark, service mark, or trade name, as those terms are defined in section 45 of the Act of July 5, 1946 (commonly referred to as the Trademark Act of 1946 ( 15 U.S.C. 1127 )); . 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 after the semicolon; in subparagraph (C), by striking the period at the end of clause
(ii)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 licensee shall not be relieved of any of its obligations to maintain the quality of the products and services offered under or in connection with the licensed trademark, service mark or trade name, and the trustee shall retain the right to oversee and enforce quality control for said products and/or services. . The amendments made by this section shall take effect on the date of 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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Sec. 11
Protection of intellectual property licenses in bankruptcy
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