Trademarks and trade names not protected by bankruptcy law, but licensee rights prevail

United States of America

In Mission Prod Holdings Inc v Tempnology LLC, addressing a circuit split over a trademark licensee’s rights following a debtor/licensor’s bankruptcy, the US Bankruptcy Appellate Panel for the First Circuit has held that, although trademarks and trade names are not included in bankruptcy law’s definition of 'intellectual property', the licensee’s rights to use the licensor’s trademarks as set forth in the agreement were not terminated by the debtor’s rejection of the agreement.

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