Mr. Clinton, the President of the United States, issued Executive Order 12959, effective May 7, 1995, prohibiting almost all trade and investment between the United States and Iran, subject to the issue of licenses by the U.S. Treasury Department. The prohibition includes exports of all goods, technology or services from the United States to Iran, imports of goods or services of Iranian origin into the United States and transactions by affiliates of United States enterprises.

The Office of Foreign Assets Control (OFAC) of the Treasury Department subsequently issued General Licenses allowing "U.S. persons" to continue to have certain services relating to patent, trademark and copyright matters carried out in Iran. On September 11, 1995, the OFAC issued its regulations in which their General Licenses were confirmed. However, clients are advised to seek counsel before continuing the transaction of intellectual property matters in Iran.