5 Key Takeaways – Licensing in a Crisis
Coming out of the pandemic, licensing will see much greater scrutiny and negotiation activity around the so-called “boilerplate” provisions, like force majeure; choice of law provisions; frustration or purpose and/or impossibility of performance standards; insurance; letter of credit; jurisdiction for disputes; and limitation caps on damages.
The COVID 19 crisis has brought out the best in licensors and licenses. There is more communication, more coordination and more cooperation than ever among licensors and licensee to work together for the benefit of
the brand and the relationship. Instead of license terminations or invoking force majeure, the license parties are revising business terms to get through the crisis.
Source: JD Supra, LLC