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Entertainment and Sports Law Litigation

How §365(n) Can Help Licensees When Licensors File for Bankruptcy

This article seeks to explain the scope of §365(n), then touches upon steps that intellectual property licensees can take to minimize the loss of the use of their licenses, such as those involving copyrights in entertainment content, in the event a licensor files for bankruptcy.

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Section 365 of the U.S. Bankruptcy Code is a key provision that allows a debtor to assume, assume and assign, or reject certain executory contracts and unexpired leases. Section 365(n) is a carve-out, however, to a debtor’s broad §365 power. The carve-out allows a non-debtor counterparty the right to either accept the rejection of a contract/license or continue performing under the agreement.

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