Security Interests in
Howard Knopf; "Security Interests in Intellectual Property: An International Comparative Approach"; Law Commission of Canada; August 1, 2001.
A security interest in a patent is perfected by recording it under the Uniform Commercial Code ("UCC") in the appropriate state office (In re Cybernetic Services Inc., 239 B.R. 917, 199 Bankr. LEXIS 1313 (B.A.P. 9th Cir., No. CC-98-1690-PKRi, 9/29/99).
The Security interest should also be recorded in the United States Patent and Trademark Office ("USPTO") to prevent a borrower from selling the patent to a bona fide purchaser without the patent being subject to the lien (Waterman v. MacKenzie, 138 U.S. 252, 11 S.Ct.. 334, 34 L. Ed. 923 (1891)).
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