Michigan Trademark Security Agreement
Description
How to fill out Trademark Security Agreement?
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FAQ
Security interest refers to an enforceable legal right that has been pledged by the owner, usually, to a financier, to obtain a loan. In other words, a registered or pending trademark which is an intangible property can now be used as a form of collateral to secure a loan from a financier.
As with trademarks: to perfect a security interest in patents, file a UCC-1 financing statement; and, as icing on the cake, record a short document detailing the security interest with the USPTO within three months of the effective date (like other documents recorded under the Patent Act).
However, generally speaking, the primary ways for a secured party to perfect a security interest are:by filing a financing statement with the appropriate public office.by possessing the collateral.by "controlling" the collateral; or.it's done automatically upon attachment of the security interest.
Registering your trademark gives you 15 years of exclusive rights to use it, and you can renew it indefinitely, as long as you are still using the trademark.
The Copyright Act defines a detailed system for recording and transferring ownership interests in copyright-protected works. Under the Copyright Act, when a copyright has been registered, a security interest can be perfected only by recording a transfer in the Copyright Office1.
Accordingly, the proper method for perfecting a security interest in a registered copyright is recording the security interest with the Copyright Office in order to give all persons constructive notice of the facts stated in the recorded document, rather than filing a financing statement under Article 9. Id.
As with other intellectual property, the process for securing and foreclosing on patent liens is unique. In order to secure/obtain a lien against the debtor's patent, the creditor must procure a written agreement with the debtor to this effect.
General intangibles. To perfect a security interest in a general intangible, a creditor must file a UCC-1 financing statement in the proper filing office, and the financing statement must include a sufficient description of the virtual currency being taken as collateral.
General intangibles include various categories of intellectual property. U.C.C.
However, the perfection of an unregistered copyright must be done by filing a financing statement with the Secretary of State pursuant to Article 9not by recording the security interest in the unregistered copyright with the Copyright Office. In re: World Auxiliary Power Company, 303 F. 3d at 1128.