There is also a need to legally protect the license agreement from the bankruptcy of licensee as well as licensor. The Korean Insolvency Act of April 1, 2006, however, does not have any measure as to protecting the licensee from the insolvency. This p...
There is also a need to legally protect the license agreement from the bankruptcy of licensee as well as licensor. The Korean Insolvency Act of April 1, 2006, however, does not have any measure as to protecting the licensee from the insolvency. This paper analyzes why we Koreans should adopt certain remedies for the interests of licensee. It has come to the conclusion, that it is high time to regulate such a situation in Korean Insolvency Law. It would be much more available for us to give the licensee or the translicensee the right to request to make a new license agreement with the bankruptcy trustee, when the licensor or the licensee becomes insolvent.