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19 Int'l Insolvency Rev. 1 (2010)

handle is hein.journals/intvcy19 and id is 1 raw text is: The Inter-relationship between Intellectual Property and International Insolvency Bashar H. Malkawi*t Accounting and Commercial Law Program, Facult of Economics, Hashemite Uiversity. Abstract Provisions concerning the treatment of intellectual propcety licenses in the insol- vency context are perhaps frustrating to the 1eensors and licensees of intellectual property rights in the domestic realm, the dilcultie wrought by the variances in the laws are much more prevalent when considered in the international context. Recent efforts at harmonizing internio insolvency laws have focused on pro- cedural aspects of cross-border insolvenci , but have failed to amalgamate substan- tive laws with respect to the tre 1tn t of issets in bankruptcy. The current systems concerning cross-border insmo)eni do much to streamline the process by which such insolvencies are undcirtak, yet do not provide parties contracting in intellec- tual property rights wit sufficient certainty as to the likely state of adjudication of those contracted rights inI he event of a cross-border insolvency. Permitting these parties to invoke bankruptcy selection clauses with respect to the treatment of intel- lectual properyi 1i inse would be one means ofincreasing the commercial certainty of these parties. C pyright C 2010JohnWiley & Sons, Ltd. I. Introduction Intellectual property licenses place special obligations and rights upon contracting parties. Often, the subject intellectual property ofa particular license can be the basis for a licensee's entire business model. If the licensor of the rights in that subject intel- lectual property goes bankrupt, the licensee's rights under the license could be in jeopardy. Similarly, a non-debtor licensor could face significant losses in royalties and in control of the intellectual property rights if the licensee files bankruptcy. *E-mail: bmalkawi@hu.edu.jo from University of Arizona College of Law in 2001; tAssociate Professor of Commercial Law. He received S.J.D. from American University, Washington College his LL.B. from Yarmouk University in 1999; LL.M. of Law in 2005. Copyright ( 2010JohnWiley & Sons, Ltd. Int. Insolv. Rev.,Vol. 19:1 22 (2010) Published online 13 January 2010 inWiley InterScience (www.interscience.wiley.com) DOI: 10.1002/iir.178

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