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"So I think what this administration is saying is we want both. We want the means of production and we want the research and development intellectual property generation."

"The company has taken our books and used it to make money. It has money, but instead of paying us for our intellectual property instead of licensing a word, it's taking it all for free."

Throughout the bankruptcy process, Authentic Brands Group will retain ownership of Forever 21’s intellectual property and may license the brand to other operators.

As part of the bankruptcy process, the company’s intellectual property was jointly acquired by Authentic Brands Group and mall operators Simon Property Group and Brookfield Property Partners.

Licensing agreements such as this one allow a company to make use of intellectual property owned by another entity, typically in exchange for a fee or a percentage of sales.