In Mission Product Holdings, Supreme Court Decides That Trademark Licensee’s Rights Are Not Revoked by Licensor’s Rejection of a Trademark License in Bankruptcy
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Categories: Bankruptcy, IP
Recently, in Mission Product Holdings v. Tempnology LLC, the Supreme Court held that a trademark licensee may continue using a licensed trademark after its licensor files for bankruptcy and rejects the relevant license agreement. While a debtor-licensor may “reject” a trademark license agreement under Section 365 of the Bankruptcy Code, such rejection is only a breach of the agreement and does not allow the licensor to revoke the licensee’s rights.
Tags: Intellectual Property Licenses in Bankruptcy Act, Mission Product Holdings, Section 365, Supreme Court, Tempnology LLC
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