Wake North Carolina Trademark Security Agreement
Description
How to fill out Trademark Security Agreement?
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FAQ
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 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).
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 most common way to perfect a security interest is through filing a financing statement. A financing statement is filed with the Secretary of State and it puts other creditors on notice of the secured party's security interest in the collateral.
In view of the importance of the intellectual property, Trademarks Act 2019 (TMA 2019) that came into force on 27 December 2019 now recognises trademark as a form of security interest and regard it as an object of personal or movable property such as stocks and cars regardless of whether it is registered or pending.
Trademarks, copyrights, and patents protect different types of intellectual property. A trademark typically protects brand names and logos used on goods and services. A copyright protects an original artistic or literary work. A patent protects an invention.
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.
A perfected security interest is any secure interest in an asset that cannot be claimed by any other party. The interest is perfected by registering it with the appropriate statutory authority, so that it is made legally enforceable and any subsequent claim on that asset is given a junior status.
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.
A trademark exclusively identifies a product as belonging to a specific company and recognizes the company's ownership of the brand. Trademarks are generally considered a form of intellectual property and may or may not be registered.
