Clark Nevada Trademark Security Agreement

State:
Multi-State
County:
Clark
Control #:
US-0442BG
Format:
Word; 
Rich Text
Instant download

Description

This form is a trademark security agreement.
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FAQ

As with other types of personal property, to perfect a security interest in intellectual property, a lender must not only document the interest in sufficient detail but also must record the appropriate documents with the proper governmental authority.

Security agreement. A security agreement normally will contain a clear statement that the debtor is granting the secured party a security interest in specified goods. The agreement also must provide a description of the collateral.

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.

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.

Securing a lien on personal property, whether through the recording of a security interest, or seizing the property post judgment is routinely used by creditor's to protect their interest in a debtor's property.

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).

The debtor must authenticate the security agreement by signing a statement that announces the intention to grant a security interest in the property specifically outlined in the security agreement.

A security agreement is a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Security agreements often contain covenants that outline provisions for the advancement of funds, a repayment schedule, or insurance requirements.

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.

The trademark security agreement filed with the USPTO must specifically identify the trademarks, which is typically accomplished by attaching a schedule which lists the mark, the jurisdiction, registration number, registration date, and record owner.

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Clark Nevada Trademark Security Agreement