An Oregon Trademark Security Agreement is a legal document that establishes a security interest in a trademark or service mark (collectively referred to as "trademarks") as collateral for a loan or debt. This agreement grants the lender or creditor a security interest in the trademark, providing assurance that if the borrower defaults on the loan, the lender has the right to take possession of the trademark and sell it to recover any outstanding amounts. The Oregon Trademark Security Agreement is governed by Oregon state laws, specifically the Uniform Commercial Code (UCC) provisions adopted in the state. The UCC outlines the requirements and procedures for creating and enforcing security interests in various types of collateral, including trademarks. This agreement typically includes detailed information about the parties involved, such as the borrower (debtor) and the lender (secured party). It outlines the specific trademarks covered by the agreement, including their names, registration numbers, and any associated intellectual property rights. Key elements of an Oregon Trademark Security Agreement may include: 1. Granting Clause: This section specifies that the debtor grants the lender a security interest in the trademarks. 2. Description of Collateral: The agreement should provide a detailed description of the trademarks, including their registration details, classes, and any associated goodwill. 3. Security Interest: The agreement establishes the lender's security interest and outlines the borrower's obligations to maintain the trademark rights, including paying any necessary fees or maintaining registrations. 4. Perfection of Security Interest: The agreement typically addresses how the lender will perfect its security interest in the trademarks, ensuring its priority over other potential creditors. This may involve filing a UCC financing statement with the appropriate state agency. 5. Default and Remedies: The agreement outlines the borrower's obligations, such as maintaining the trademarks and not taking any actions that might harm their value. It also outlines the lender's rights and remedies in case of default, including the right to seize and sell the trademarks to recover the outstanding debt. Different types of Oregon Trademark Security Agreements may vary based on the specific requirements and preferences of the parties involved. However, the underlying purpose remains the same, which is to provide security to the lender and ensure the timely repayment of the loan by establishing a security interest in the trademarks.
Oregon Trademark Security Agreement
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How to fill out Oregon Trademark Security Agreement?
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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.
An effective copyright notice, whether registered or unregistered, should include three elements that can appear as a single continuous statement:The copyright symbol © (or for phonorecords, the symbol 2117); the word copyright; or the abbreviation copr.;The year of first publication of the work; and.More items...a€¢
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).
You must submit an application and have your application approved before it receives protection. Trademarks can be words, symbols, names, designs, or any combination of these elements. A trademark is a logo or emblem used to identify and distinguish a company or goods from others.
However, generally speaking, the primary ways for a secured party to perfect a security interest are:by filing a financing statement with the appropriate public office.by possessing the collateral.by "controlling" the collateral; or.it's done automatically upon attachment of the security interest.
Intellectual property, including trademarks, is classified under the definition of general intangibles. One obtains a security interest in a trademark by obtaining a written grant of a security interest from the debtor.
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. Id.
Trademarks are protected by intellectual property rights. How can I protect my trademark? At the national/regional level, trademark protection can be obtained through registration, by filing an application for registration with the national/regional trademark office and paying the required fees.
Trademark law governs the use of a device (including a word, phrase, symbol, product shape, or logo) by a manufacturer or merchant to identify its goods and to distinguish those goods from those made or sold by another. Service marks, which are used on services rather than goods, are also governed by 'Trademark law.