How to Perfect an Intellectual Property Security Interest
Last week I explained what a security interest is and how it can be perfected, i.e., made effective against third parties. (See What is a Security Interest, and Why Should I Care?) This post discusses how to perfect an intellectual property security interest.
To recap, a security interest is an interest in an asset (the “collateral”) intended to secure performance of an obligation. Typically, that obligation is payment of a debt. Perfection typically consists of filing, with one of more secretaries of state, documents that identify the debtor, the creditor and the collateral.
Intellectual Property Security Interest
Sometimes, however, the collateral includes intellectual property – a copyright, a patent or a trademark. To fully perfect an intellectual property security interest, an additional filing may be required. And even if it is not required, it will not be harmful.
- Irrespective of whether a copyright has been registered with the U.S. Copyright Office, a security interest in a copyright may be so registered. See Circular 12, Recordation of Transfers and Other Documents.
- Security interests in patents and patent applications may be registered with the U.S. Patent and Trademark Office. See Section 313 of the Manual of Patent Examining Procedures and the patent Recordation Form Cover Sheet.
- Similarly, a security interest in a registered trademark or service mark, or an application. can be registered with the USPTO. See Section 503.02 of the Trademark Manual of Examining Procedure and the trademark Recordation Form Cover Sheet.
In summary, of collateral includes an intellectual property security interest, then to ensure proper perfection an additional filing with the applicable U.S. governmental office is in order.
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
Contracts, Intellectual Property