This document is a collateral assignment of intellectual property. It details the collateral assignment, the scope of the assignment, representations and warranties, default remedies, and all other aspects generally found in an assignment agreement.
West Virginia Collateral Assignment of Intellectual Property
State:
Multi-State
Control #:
US-TC0713
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Word;
PDF;
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How to fill out Collateral Assignment Of Intellectual Property?
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FAQ
One obtains a security interest in a trademark by obtaining a written grant of a security interest from the debtor. The grant should cover the trademark itself, the accompanying goodwill, and, ideally, any other assets that embody that goodwill, such as corresponding domain name registrations.
This is a form of collateral assignment of a material agreement wherein a borrower (the assignor) grants to a lender (the assignee) a collateral security interest in a material contract used in the borrower's business as security for the obligations owing to the lender from the borrower under a credit facility.
The Uniform Commercial Code defines intellectual property as ?general intangibles? in which a lender's security interest is perfected by the filing of a UCC-1 financing statement in the state where the borrower's principal place of business is located.
You give the lender this right when you sign your closing forms. The document granting the security interest can be called by different names, but the most common names are "Mortgage" or "Deed of Trust."
Filing a financing statement: To perfect your security interest in the patent, you must file a financing statement with the relevant patent office. In the United States, this is done through the United States Patent and Trademark Office (USPTO).
There are three requirements for attachment: (1) the secured party gives value; (2) the debtor has rights in the collateral or the power to transfer rights in it to the secured party; (3) the parties have a security agreement ?authenticated? (signed) by the debtor, or the creditor has possession of the collateral.
In order for a security interest to be enforceable against the debtor and third parties, UCC Article 9 sets forth three requirements: Value must be provided in exchange for the collateral; the debtor must have rights in the collateral or the ability to convey rights in the collateral to a secured party; and either the ...