An effect of licensor bankruptcy clause for use in licenses of intellectual property (IP) other than trademarks. This clause is typically included by and for the benefit of the licensee. It describes the subject matter of the agreement as "intellectual property" as defined by Bankruptcy Code section 101(35A) and sets out the parties' intent concerning their rights and obligations under Bankruptcy Code section 365(n) if the licensor enters into bankruptcy. This Standard Clause has integrated drafting notes with important explanations and drafting tips.