WHO Poll

PwoperNaughtyButNot 10:47 Tue Feb 6
Contract law advice
If I signed a licencing agreement with a company and that company was struck off and dissolved, do they have any claim over any intellectual property?

My understanding is that the company no longer exists and nothing was transferred to any other company so I’m free to use assets again. You may know more.

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Infidel 9:16 Wed Feb 7
Re: Contract law advice
This will depend on two things.

First, the licencing contract. It's usual for there to be clauses relating to the insolvency of change of control of the licensee. You would need to read the contract to see what the provisions are - and frankly it's a bit strange to ask for advice on here without doing that first as it will probably answer your question.

Second, it may be that during the insolvency process the company's assets were passed to (or acquired by) a third party - for example a creditor or a former director. If the licensee agreement has any value it would have formed part of the asset base, and provided the licensee agreement did not prohibit it, the asset could now be in the hands of that third party.

When companies become insolvent it's normal for their assets to be sold off to pay creditors (and shareholders if there's anything left). You should check to see what assets were sold off, if any, and whether the licensee agreement was among them.

onsideman 8:14 Wed Feb 7
Re: Seek legal advice SPLATT!!!
Most IP contracts will have a clause providing for the return of any rights in the event of bankruptcy/dissolution etc. Haven't you got the agreement?

Darby_ 6:35 Wed Feb 7
Re: Seek legal advice SPLATT!!!
I’m not a lawyer, but I can’t see how a company can own something if that company doesn’t exist.

joe royal 4:07 Wed Feb 7
Seek legal advice SPLATT!!!

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