Understanding how intellectual property (IP) and bankruptcy laws intersect has never been more essential. Whether you are a debtor in Chapter 11 or a company with critical licensing agreements, the treatment of IP rights in bankruptcy can have a significant impact on the future of your business.

What Is Intellectual Property, Anyway?

Christopher Wick, a partner at Hahn Loeser & Parks LLP, breaks down the key types of IP: • Patents: These protect inventions and discoveries. Governed by the Patent Act and managed by the USPTO, patents offer a 20-year exclusionary right to inventors. Wick notes that the law now uses a ‘first to file’ system instead of ‘first to invent.’ • Copyrights: These cover original works fixed in a tangible medium — think music, writing, and art. Copyrights can be

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