Synapse: Law for Life Sciences — March 2013
This month on Synapse, Taylor Wessing discusses the impact of insolvency on licensors and licensees in the life sciences sector. This sector is feeling the pressure for a number of well-documented reasons — a difficult funding environment, a challenging regulatory landscape and dwindling pipelines — and these all, sadly, mean that insolvencies in the sector are happening and will continue to happen.
So it is prudent for any life sciences company to consider the potential impact of the insolvency of its counterparty in each agreement that it enters into. This article considers, in particular, the impact on intellectual property licences.
The Insolvency Act 1986, as amended, along with the Companies Act 2006, provides a comprehensive toolbox of different procedures that creditors and debtors may take advantage of…
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