Licensees in the Ordinary Course of Business: What’s Exclusive and What’s Not

Barbara M. Goodstein and Adam C. Wolk, discuss how the 'North Star' decision underscores the important distinction between nonexclusive and exclusive license agreements when foreclosing on a licensed asset. A licensee seeking to acquire use rights in trademarks encumbered by a perfected security interest should weigh the benefits under Section 9-321 of a nonexclusive license against possible commercial advantages of an exclusive license.