There are primarily four types of intellectual property in the U.S.: (1) patents, (2) trademarks, (3) copyrights and (4) trade secrets. A copyright exists automatically once the creator of a "work" fixes the work in a tangible medium. A work is "fixed in a tangible medium" when it is written, photographed, recorded or otherwise documented. Copyrights can include everything from books and works of literature, as well as non-literary written documents, including compilations of data, references, price lists and computer software. Although a copyright will generally exist under the common law automatically, the rights of the creator are best protected when the creator files for copyright protection under the Copyright Act (17 U.S.C. 201) through the U.S. Patent and Trademark Office.
A New Hampshire Copyright Security Agreement Executed in Connection with a Loan Agreement is a legal contract that safeguards the rights of the lender in case of default or non-payment by the borrower. This agreement ensures that the borrower pledges certain copyright assets as collateral, granting the lender an interest in those assets. In New Hampshire, there are several types of Copyright Security Agreements that can be executed in connection with a Loan Agreement, including: 1. General Copyright Security Agreement: This agreement provides a lender with a security interest in all present and future copyrights owned by the borrower. It encompasses copyrights of literary works, artistic works, software, music, films, or any other form of copyrightable material. 2. Specific Copyright Security Agreement: In some cases, the lender may require a more specific security interest. This agreement grants the lender a security interest in a particular copyright or a group of copyrights listed within the agreement. 3. Exclusive Copyright Security Agreement: An exclusive security agreement gives the lender the exclusive right to use, reproduce, distribute, or exploit the copyrights until the loan is fully repaid. The borrower's rights to utilize the copyrighted material may be restricted during this period. 4. Non-Exclusive Copyright Security Agreement: In contrast to the exclusive agreement, a non-exclusive security agreement allows the borrower to continue exploiting their copyrights while granting the lender a security interest. However, the lender retains the right to step in and use the copyrighted material in case of default. Key terms within a New Hampshire Copyright Security Agreement might include: a. Grant of Security Interest: The borrower grants the lender a security interest in the copyrights listed. This ensures that the lender has the right to seize or sell the collateral in case of default. b. Representations and Warranties: The borrower assures the lender that they either own or have the right to pledge the copyrights as collateral and that these copyrights are free of any other security interests or encumbrances. c. Preservation of Collateral: The borrower is obligated to maintain and protect the copyrights, including renewing registrations, paying any necessary fees, and taking necessary legal actions to defend them against infringement. d. Default and Remedies: The agreement specifies the conditions that would constitute default, such as non-payment. It outlines the remedies available to the lender, which may include the right to take possession of the copyrights and sell them to recover the outstanding debt. e. Governing Law: The agreement identifies that it is executed under the laws of New Hampshire, and any disputes arising from it will be resolved in the courts of New Hampshire. It is crucial to seek legal advice when drafting or executing a New Hampshire Copyright Security Agreement Executed in Connection with a Loan Agreement to ensure compliance with state laws and protect the interests of both the lender and borrower.
