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.
Pennsylvania Collateral Assignment of Intellectual Property
State:
Multi-State
Control #:
US-TC0713
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How to fill out Collateral Assignment Of Intellectual Property?
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FAQ
While copyright assignments must be done in writing to be valid, notarization isn't required. But it is always a good idea to have someone witness the assignor and assignee signing and dating the document. Ready to get started? Use this form to create an intellectual property assignment in minutes.
IP assets such as trademarks, trade names, patents, and copyrights are being used to secure loans issued by banks and other lenders. In most situations, IP assets tend to act as ?credit enhancers? and are included in a portfolio of assets that serves as collateral.
Though the agreement is a legal document, it does not need to be notarized. However, obtaining notarization for the signatures provides added protection, limiting the risk of a party later claiming a signature was not valid.
It is necessary to use a written agreement for an assignment of certain types of IP (such as copyright) to be effective. Further, it is important to ensure that the agreement is an enforceable contract. For the contract to be enforceable there must be some form of consideration paid in exchange for the IP.
IP assignment agreements are contracts between a business and its personnel that transfer ownership of IP created by the personnel during their employment or engagement with the business. IP can include patents, trademarks, copyrights, and trade secrets.
While copyright law does require assignments to be in writing and signed, it generally doesn't mandate notarization for validity.
Intellectual property rights can be transferred through a written agreement, such as a contract or assignment. The agreement should clearly state the details of the transfer, including the specific intellectual property rights being transferred, the parties involved, and any conditions or limitations.
Assigning by deed It is worth considering whether to conclude an assignment, mortgage or charge by deed. Even though such transactions do not require a deed, the parties can still agree to effect them in this way.