6th Circ. Case Offers Lessons For Lenders And IP Licensees

Law360, New York (January 25, 2016, 11:32 AM EST) -- The United States Court of Appeals for the Sixth Circuit recently issued a decision in the case of Cyber Solutions International LLC v. Pro Marketing Sales Inc. Although the decision blazes no new legal territory, the facts of the case and rulings offer important lessons for both lenders and licensees.

The decision recounts the startup efforts of an emerging company focused on cybersecurity technology. As the company grew, it obtained a secured loan from a lender. In return for the loan, the company granted the lender a first position lien on all company assets including intellectual property. As is typical in...

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