Eternal Image Inc (fka ETNLQ)

[Kardz]

Typically in any kind of licensing arrangement, there's a Sell-Off Period specified following the expiration or termination of the agreement. What usually happens is that the Licensee must submit an inventory statement indicating the number and description of the licensed products on hand.  Following expiration Licensee may manufacture no more licensed products, but, may continue to distribute its remaining inventory during the period specified a predetermined “Sell-Off Period.” Also typical is that the Licensee shall not manufacture, sell or distribute any licensed products after termination of the agreement by Licensor and after expiration of the Sell-Off Period.

In short, it all comes down to what was in the contract between the parties as to the length of the Sell-Off Period and the rules therein.