Appropriate Legal Measures for Managing Intellectual Property Licensing Agreements in Bankruptcy Cases

Abstract

This research article analyzes appropriate legal measures for managing intellectual property licensing agreements in bankruptcy cases, with the purpose of protecting the contractual parties from disproportionate effects resulting from one party’s insolvency. The studies revealed that intellectual property licensing agreements possess certain qualities that set them apart from ordinary contracts and have significance for national growth via the ongoing use of intellectual property. The Bankruptcy Act of 1940 does not explicitly address intellectual property licensing agreements, in contrast to U.S. bankruptcy law, which prioritizes the protection and remuneration of individual contracting parties and the advantages to the nation from allowing licensees to utilize intellectual property during bankruptcy proceedings. To optimize the advantages of managing intellectual property licensing agreements for the debtor’s estate in Thailand, mitigate disproportionate effects on the other contracting party, and for the benefit of the nation, the researcher proposes that the Bankruptcy Act  B.E. 2483 should be revised to incorporate explicit guidelines and methodologies for managing intellectual property licensing agreements, along with a distinct categorization of various types of such agreements.