What happens if you don't own your most valuable IP asset?

For FAO Schwarz, who doesn't own the trademark rights to its name - it makes selling the company that much harder. (WSJ.com sub req'd)

When FAO, which filed for bankruptcy-law protection Thursday for the second time this year, is desperately seeking a buyer to avoid the liquidation of its stores. But the company licenses the FAO name, known to generations of children and their parents, from a foundation set up by heirs of FAO Schwarz's founder. The license agreement appears to give the foundation the right to block a transfer of the name if the buyer doesn't meet the foundation's "first quality" standards.