Missouri Collateral Assignment of Trademarks
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How to fill out Collateral Assignment Of Trademarks?
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FAQ
As a result, asset-based lenders have turned to IP portfolios as another form of collateral to secure their loans. But while using IP as collateral can enhance the security of a loan, it presents banks, investors, and other lenders with unique challenges.
Section 39 stipulates that an unregistered trade mark may be assigned or transmitted with or without the goodwill of the business concerned. A request has to be made on Form TM-16 for an unregistered trademark to be assigned or transferred.
Trademarks and other intellectual property can be critical to a borrower's financial success and may represent a significant portion of the value of the borrower's business. Thus, trademarks may be an important part of the lender's collateral.
Intellectual property, including trademarks, is classified under the definition of general intangibles. One obtains a security interest in a trademark by obtaining a written grant of a security interest from the debtor.
A trademark assignment is the transfer of an owner's property rights in a given mark or marks. Such transfers may occur on their own or as parts of larger asset sales or purchases. Trademark assignment agreements both provide records of ownership and transfer and protect the rights of all parties.
Assignment of a trademark occurs when the ownership of such mark as such, is transferred from one party to another whether along with or without the goodwill of the business. In case of a registered Trademark, such assignment is required to be recorded in the Register of trade marks.
Even after your trademark application has been approved, people can challenge and steal your intellectual property, using legal means. The reasons this is possible is that approved trademarks do not come with absolute ownership.
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.
Instead, a trademark must be assigned through an Assignment of Rights. That Assignment must transfer not only the trademark and the registration, but must also transfer the goodwill behind the trademark to be valid.