59.1-505.6 - Transfer by licensee. - Virginia Statutes

§ 59.1-505.6. Transfer by licensee.

(a) If all or any part of a licensee's interest in a license is transferred,voluntarily or involuntarily, the transferee does not acquire an interest ininformation, copies, or the contractual or informational rights of thelicensee unless the transfer is effective under § 59.1-505.3 or § 59.1-505.8(a) (1) (B). If the transfer is effective, the transferee takes subject tothe terms of the license.

(b) Except as otherwise provided under trade secret law, a transfereeacquires no more than the contractual interest or other rights that thetransferor was authorized to transfer.

(2000, cc. 101, 996.)