Trade marks and trade secrets.

Tina: And what did he say about the situation internationally?

Peter: Right. Well, the main point he made was that the law is

Still anything but settled. Allover the world, you see

Inconsistent rulings and unclear statutes.

Tina: Can you give me an example?

Jack: Er, let me think ... what was that he said about the UK? Oh,

Yeah, I remember. So, for example in the UK, charges against

Intellectual property have to be registered at Companies

House, but the law is still unclear about whether this applies to

A foreign company that has no presence in the UK.

Peter: Right. And take China and Hong Kong. There, you're not

Allowed to create a security interest in a trade mark.

Jack: So his point was that perfecting security interests

Internationally is a tricky business. You need to have someone

in the countries in question who knows what they're doing.

Tina: I see. And what did he have to say about perfecting

security interests in the US?

Jack: Well, as you know, Article 9 has some new provisions

About IP as collateral.

Tina: Yes, I know.

Jack: And all those different IP assets like copyright, trade

marks, etc. are classified as 'general intangibles'. But

they're not all perfected the same way as you might expect.

Part of the problem is knowing where to file the security

Interest, whether on the state or the federal level. But there

Are other considerations, too. Very complicated.

Tina: I'm interested in copyrights. What can you tell me about

those?

Peter: Well, Kellogg warned us that copyrights are a particularly

Dangerous area for lenders. The key issue here seems to

Be whether the copyright is registered with the Copyright

Office or not. If it is, then you would have to file a security

Agreement with the Copyright Office. If the work is

Unregistered, then you would file a UCC-1 to perfect a

Security interest.

Tina: Right. Um, where could I get more information on what

was covered in the seminar?

Jack: You could borrow our seminar materials. Everything you

Want to know is in there.

Tina: Great, thanks. I promise I'll get them back to you quickly.

Unit 14

Listening1

Part I

Well, I see that my time's running out and so I'd like to move to

my final point. Clients often ask 'How can I limit the exposure

Of my business and personal assets to the risks of my

business?' That's what I'd like to talk to you about - asset

Protection.

The most powerful weapon of a legal adversary is the ability to

Freeze your assets. When your bank account is frozen, you

can't pay your bills or run your business or withdraw your

Money. Your residence, rental property or business can also be

attached. You can't collect rents or income, and your property

can't be sold or refinanced.

The plaintiff can attach your property during or after the

Lawsuit. An attachment during the case is known as a prejudgment

attachment. After the case is decided, it's called a

Judgment lien. A pre-judgment attachment is only granted in

Certain types of cases, generally those involving a contract

Dispute over a particular amount of money.

A judgment lien applies if the plaintiff receives an award in his

Date: 2015-12-11; view: 823