Bankruptcy Update

Third Circuit Broadly Defines IP Licenses Entitled to Bankruptcy Code Protection

, The Legal Intelligencer


The U.S. Court of Appeals for the Third Circuit recently affirmed its expansive definition of what constitutes an intellectual property license in In re Spansion. The Third Circuit clarified that a license need not be expressly labeled as such or formally grant intellectual property rights, but instead is a mere waiver by the holder of intellectual property of its right to sue.

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