In this Note, Wimberly addresses one of the areas where trademark protections break down--the problem of "holdover licensees," when an entity formerly licensed to use a mark continues to do so after the license has expired or terminated.

He argues that infringement liability alone is typically insufficient to satisfy trademark law doctrine and policy. Instead, he proposes that holdover licensees should generally incur liability for a more severe and more appropriate cause of action: trademark counterfeiting. Wimberly explores the deficient precedents that in his view have allowed holdover licensees in certain courts to escape counterfeiting liability, then suggests potential legislative and judicial solutions that would enable courts to more readily impose counterfeiting liability in appropriate cases.