Ch. 15 And Public Policy Lessons From Jaffe V. Samsung

Law360, New York (March 21, 2014, 12:36 AM EDT) -- Under U.S. bankruptcy law, a debtor generally has a right to reject executory contracts that the debtor, in its business judgment, determines are burdensome. However, the right is not unlimited. In certain circumstances, the debtor’s rejection right may be restricted or conditioned.

For example, in the area of intellectual property, § 365(n) of the Bankruptcy Code provides that where a debtor licensor of intellectual property elects to reject that license, nevertheless the licensee may elect “to retain its rights (including a right to enforce any exclusivity...
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