Jun 19, 2009 (M2 PRESSWIRE via COMTEX) -- With the UK in the grip of what many are calling the worst economic downturn in a generation the Federation Against Software Theft's (FAST) Legal Advisory group (FLAG) has organised a seminar to discuss the myths and realities of software licensing in the insolvency era.
Corporate UK is undergoing a radical transformation with corporate insolvency on the up, while many others are restructuring having to let staff go. Many organisations are finding that they have software licences, which cost thousands, if not hundreds of thousands of pounds, which are simply no longer required. Equally, sizeable companies which have collapsed will undoubtedly have enterprise wide licenses for software that cost millions of pounds to purchase in the first place. But for creditors, administrators, lawyers alike the question is are these software licenses assets that can be realised by the companies or their liquidators or do they have zero value? This seminar will examine the circumstances in which software licensors' rights may be considered to be exhausted and licence restrictions prohibiting assignment or re-sale unenforceable. Find out more here.