Uniform Commercial Code §9-102 includes intellectual property within the definition of "general intangibles." Generally a lender's security in general intangibles is perfected by the filing of a UCC-1 financing statement in the state where the borrower's principal place of business is located. It should be noted, however, that UCC §9-311 provides an exception when the intellectual property rights are governed by federal statutes, regulations, or treaties, federal procedures take precedence. Thus, patents, federally protected trademarks and copyrights are ultimately governed by these federal laws and regulations.
Perfecting security interests in patents, trademarks, copyrights, and domain names all have different requirements and to complicate matters, there are inconsistencies in court rulings and regular changes in the applicable law. To be safe, it may be preferable for the owner and secured party to make sure the security interest in the intellectual property right is perfected by the filing of a UCC-1 financing statement in the state where the borrower's principal place of business is located as well as taking the necessary steps to perfect the security interest in the U.S. Patent and Trademark Office, and/or the United States Copyright Office, whichever is applicable.
The New York Intellectual Property Security Agreement is a legal document that establishes a security interest in intellectual property assets located in New York. This agreement is typically used to secure loans or financial transactions involving the assignment of intellectual property rights as collateral. By recording this agreement with the U.S. Patent and Trademark Office (USPTO) and the United States Copyright Office, it provides notice to the public and other potential creditors about the existence of the security interest. Keywords: New York, Intellectual Property Security Agreement, recording, U.S. Patent and Trademark Office, United States Copyright Office, collateral, loans, financial transactions, security interest, intellectual property assets, notice. There are different types of New York Intellectual Property Security Agreements for recording with the USPTO and United States Copyright Office, including: 1. Trademark Security Agreement: This type of agreement pertains specifically to trademarks and service marks. It ensures that the intellectual property rights associated with registered trademarks are properly secured in the event of a loan or financial transaction. 2. Patent Security Agreement: This agreement focuses on securing the intellectual property rights associated with granted patents. It ensures that the patent owner can use their patent rights as collateral for loans or other financial arrangements. 3. Copyright Security Agreement: This type of agreement relates to copyrights, safeguarding the rights of creators and owners of creative works such as literary, artistic, musical, and dramatic works. It ensures that the copyrights are protected and can be used as collateral when required for financial arrangements. By recording these specific types of Intellectual Property Security Agreements with the USPTO and the United States Copyright Office, it ensures that the security interests in trademarks, patents, and copyrights are properly established and publicly acknowledged, providing protection to both the rights holder and potential creditors or lenders. Overall, the New York Intellectual Property Security Agreement is a valuable legal instrument for securing intellectual property rights in New York and plays a vital role in facilitating financial transactions and protecting the interests of all parties involved.
