In a recent seminar, attorney Peter Goldman discussed some pitfalls associated with claims on intellectual property assets in bankruptcy proceedings. Peter, who practices Business and Intellectual Property Law at DMYL, presented the seminar titled “Trying to Avoid a Perfect Storm: A Business Lawyer’s Perspective on Intellectual Property in Bankruptcy.”
During his presentation at the Arizona State Bar’s Business Law Section for the Southern Region, Peter focused primarily on executory contracts. Intellectual property typically is commercialized by licensing it. Yet a license is an executory contract, which in bankruptcy proceedings is treated differently from other assets. Consequently, bankruptcy can affect the use and value of licensed intellectual property, often in ways not desired or foreseen by the parties to the license. Typical executory contracts include IP licenses for assets such as trademark and branding rights, copyrights, trade secrets and patents.
“It’s about preserving the client’s assets. Here the assets are intellectual property or other intangibles. My seminar focuses on recognizing them and protecting clients’ rights to them in a bankruptcy, whether the client is the debtor, creditor or third party with a claim to the asset,” Goldman said.
DeConcini McDonald Yetwin & Lacy, P.C., founded in 1968 and one of Southern Arizona’s largest law firms with offices in Tucson and Phoenix, conducts a full service, multidisciplinary practice. Our members possess the knowledge and experience to solve a wide spectrum of complex legal issues for our individual, business and governmental clients. Additional information about the firm may be found at www.dmyl.com.
For additional information contact:Jo Ann Keckonen, Administrator for Operations and Human Resources DeConcini McDonald Yetwin & Lacy, P.C. 2525 E. Broadway, Suite 200 Tucson, AZ 85716 (520) 322-5000