Trademark Licensing Protection Act of 2023

Bill 118 s 2173, also known as the Trademark Licensing Protection Act of 2023, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to provide protection for trademark licensees in the event that a licensor files for bankruptcy.

Under the provisions of the bill, if a licensor files for bankruptcy, the licensee would have the right to continue using the trademark as long as they continue to meet the terms of the licensing agreement. This would prevent the licensor or the bankruptcy court from terminating the licensing agreement and forcing the licensee to stop using the trademark.

Additionally, the bill would require the licensor to provide notice to the licensee of their intent to reject the licensing agreement as part of the bankruptcy proceedings. This would give the licensee the opportunity to negotiate with the licensor or seek alternative arrangements to continue using the trademark. Overall, the Trademark Licensing Protection Act of 2023 aims to provide stability and protection for trademark licensees in the event of a licensor's bankruptcy. It seeks to ensure that licensees are not unfairly penalized or forced to stop using a trademark that they have invested time and resources into developing.